Expandable Villas/ Approved Plots Tamil Nadu : Teachers Housing & Welfare Trust

Organisation :Tamil Nadu Teachers Housing & Welfare Trust
Facility :Expandable Villas/ Approved Plots
Applicable State : Tamil Nadu

Home Page :tnteacherstrust.org/Downloads.aspx
Download here :www.statusin.in/uploads/6093-Application%20-%20TN%20Trust.pdf

Expandable Villas

Chennai / Coimbatore / Palani Neighbourhood Scheme :
Tamilnadu Teachers Housing & Welfare Trust invites the applications from the Teachers and public for buying the Villas in the following three Schemes totally 1200 Expandable Villas under Neighborhood Scheme at Chennai, Coimbatore and Palani.

Related : Tamil Nadu Teachers Housing & Welfare Trust Allotment Procedure : www.statusin.in/6091.html

Payment Conditions :
** Applications should be submitted along with 1% total cost of the Villas and plots as Initial Deposit in the form of
** Demand Draft / Cheque (A/c Payee) drawn in favour of the “TAMILNADU TEACHERS HOUSING AND WELFARE TRUST”, payable at CHENNAI.
** Allotted applications of Villas have to pay further 9% of total cost as deposit.
** Allotted applications of Plots have to pay 29% of total cost as deposit.
** The above further payment (9% for Villas, 29% for Approved Plots) to be paid within 21 days from the date of receipt of the allotment order.

For Villas – Balance 90% payment to be remitted as detailed below :
(1) 30%, before commencement of work
(2) 25% within 3 months from date of above 30% payment
(3) 20% within 3 months from the date of above 25% payment
(4) 10% within 3 months from the date of above 10% payment and the remaining
(5) 5% will be collected at the time of handing over.

For Approved Plots – balance 70% has to be remitted as details below :
(1) 40% within 30 days from the date of above 30% payment and remaining
(2) 30% within 30 days from the date of above 40% payment
For eligible Villa’s applicants, bank Loan can also be arranged for a repayment period of
20 years on 240 Equated Monthly Installment (EMI).

Allotment Conditions :
1. Allotments are made on “First come First Serve Basis”.
2. If more number of applications received, then the allotment will be made by category wise on draw basis only.
(a) 70% – Allotment for Teaching & Non Teaching Applicants
(b) 20% – Allotment for General Public
(c) 10% – Allotment for Non Resident Indian (NRI)
3. For unsuccessful applicants 1% Initial Deposit will be refunded without interest.
4. If applicants withdraw their allotment, 80% of the initial deposit amount paid will be refunded.
5. The total cost of the Villas does not include the cost of compound wall, EB Deposit and electrical service connection charges and deposits, water & sewerage service connection charges and deposits, registration charges, legal fees, service tax, statutory payment, etc.,
6. An additional charges of 10% of cost of the Villas will be charged extra towards Elevation work.
7. If applicants interested to apply more than one allotment then the applicants should apply separate application.
8. Other Terms and Conditions will be specified in the agreement entered between the parties.
9. All rights of allotment are reserved by the Trust and the Trust decision is final.
10. If any disputes arise it should be referred to Madras High Court Jurisdiction only.