G.O.(Ms.)No.26, Dated:02.02.2021, Government servants from Banks / other Financial Institutions to House Building Advance Guidelines

G.O.(Ms.)No.26, Dated:02.02.2021, Government servants from Banks / other Financial Institutions to House Building Advance Guidelines 

HOUSING AND URBAN DEVELOPMENT (HBA.) DEPARTMENT

Loans and Advances House Building Advance Migration of home loans taken by the Government servants from Banks / other Financial Institutions to House Building Advance Guidelines and amendment to Rule 3 of "State Rules to Regulate the Grant of Advances to Government Servants for Building Etc., of Houses"

The Government of India in Office Memorandum first read above, have issued conditions / clarification on migration of interest bearing advances taken by the existing Government Employees for Home Loans from Banks / other Financial Institutions, based on the recommendation of the Seventh Central Pay Commission.

2. In the Government order second read above, the Government have enhanced the ceiling of House Building Advance to All India Service Officers from Rs.40,00,000/- to Rs.60,00,000/- and to State Government Employees from Rs.25,00,000/- to Rs.40,00,000/- respectively for the following: -

(1) Partly for purchase of land and partly for construction of a house thereon, (or)

(ii) for the construction of a house, (or) (iii) for purchase of a Ready Built House / Flat.

3. In this connection, there are repeated requests from the employees to allow them to migrate their loans availed from other financial institutions to the house building advance sanctioned by the Government.

FOR MORA G.O '

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