Tamil Nadu Govt raises HBA ceiling to 25 Lakhs
Based on long standing requests from the staff side, the Government of Tamilnadu has decided to increase the ceiling of House Building Advance to its employees from 15 lakhs to 25 lakhs, due to escalation in the cost of land and building materials.
In a latest and important order issued by Finance Department of Tamil Nadu on 20.6.2012 regarding enhancement of ceiling of Housing Loan to State Government employees and officers, which stipulates that ‘the ceiling on House Building Advance to the Government Servants was lastly revised in the year 2009. At this distance of time, considering the escalation in the cost of land and building materiel, the Hon’ble Minister for Finance, in the Budget Speech for the year 2012-2013, has announced enhancement of the present House Building Advance ceiling from Rs.15 lakhs to Rs.25 lakhs to Government Employees. Further, the Government have also considered enhancement of House Building Advance ceiling from Rs.25 lakhs to Rs.40 lakhs to All India Service Officers. The Government after careful examination have decided to enhance the existing maximum ceiling of House Building Advance as above’.
In these days of inflation and ever escalating costs of building materials and labour costs, this decision comes as a great relief to Tamil Nadu Government employees.