Chapter II PROTECTION OF SINGLE DWELLING PLACE

Declaration as to giving effect to the directive principle.—It is hereby declared that this Act is for giving effect to the policy of the State in securing the directive principle laid down in clause

1. (b) of article 39 of the Constitution of India.

Protection of single dwelling place.—The families who loses dwelling place on account of the attachment or the recovery proceedings initiated by financial institution due to the non-repayment of loan raised by mortgaging the single dwelling place from the financial institution functioning in the State shall, subject to the provisions of this Act, eligible for getting protection.

Eligibility criteria.—

1. (1) The following eligibility criteria shall be applicable for the purpose of getting protection under this Act, namely:—
   • (i) the loan amount shall not exceed the maximum of five lakh rupees;
   • (ii) the total repayment amount including the loan amount, interest, penal interest and other incidental expenses shall not exceed the maximum of ten lakh rupees;
   • (iii) except the property mortgaged, the debtor and family, either himself or jointly, shall not have other properties or shall not have other means for repayment;
   • (iv) the total extent of land belonging to the debtor and family, either himself or jointly, shall not exceed five cents in Municipal/ Corporation area or ten cents in Grama Panchayat area;
   • (v) the annual gross income of the debtor and family shall not exceed the maximum of three lakh rupees;
   • (vi) after the date of raising of the loan, the debtor or family members shall not have transferred any of the properties belonging to themselves;
   • (vii) the person eligible to get the benefit shall be an Aadhar holder;
   • (viii) the protection shall not be available to those loans raised except for the purposes of education, treatment, marriage, house building/house renovation, agriculture and creation of livelihood for self-employment.
2. (2) The Government shall, by notification, have the power to amend from time to time the eligibility criteria under sub-section (1).
3. (3) In the case of taking over the repayment liability fully or partially by the Government, a family shall not be eligible to get such benefits for more than once.