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The Ministry of Urban Development, New Delhi, has decided that their Office Memorandum dated 27.11.2008 on House Building Advance will take effect from 1st January 2006.
Accordingly, the Ministry has decided that in respect of Loans sanctioned between 1.1.2006 till 27.11.2008, the Eligibility may be worked based on pay in the pay bands and differential amount between this and amount earlier sanctioned may be sanctioned to the Officers. This is subject to the following conditions :
a) the Entire amount sanctioned earlier should not have been drawn;
b) there will be no deviation from approved plan for which original loan was sanctioned. However,revised cost on the same plan can be considered.
c) Actual entitlement shall be worked out based on formula contained in Office Memorandum dated 17-10-2000.
d) the entire amount of advance and interest shall be recovered before retirement of Government Servant.
e) The Ceiling of Rs. 7.50 Lakhs and 1.80 Lakhs respectively shall remain unchanged.
f) Supplementary Mortgage Deed, Personal Bond and Sureties will be drawn and
executed at the expense of the loanee.
g) The applications for enhancement/differential loan shall be submitted within 6 months of this Order, that is, on or before 13.01.2011.
h) Enhancement shall be granted only once for each employee.
For further details, download Office Memorandum dated 14.07.2010.