Revision of House Building Advance for Himachal state employees

Government of Himachal Pradesh

Finance(Regulations) Department

No.Fin(C)A(3)-5/2009    Dated Shimla-171002

OFFICE MEMORANDUM

Consequent upon the revision of Pay Scales of the State Government Employees w.e1.1.1,2006, the matter regarding revision of the rates/ entitlements/ limits of the House Building Advance to the State Government employees was under consideration of the Government. The Governor, Himachal Pradesh is pleased to order that quantum of amount of House Building Advance will be as under:-

SI.No.

Item

Revised entitlementsPreview

1. Quantum of HBA The maximum limit for grant of House Building Advance shall be 34 months of pay in the Pay Band subject to maximum of Rs.7.50 lakhs. or the cost of the house or repaying    capacity   whichever   is   the   least,   for   new construction/purchase of new house/flat.    –
2. Cost Ceiling Limit The cost ceiling limit shall be 134 times of the pay in the Pay Band subject to a minimum of 7.50 lakh and a maximum of Rs.30.00 lakhs relaxable upto a maximum of 25% of the revised maximum cost ceiling of Rs.30.00 lakhs.
3. Quantum of Advance for repair/enlargement of the existing house. The maximum limit for grant of HBA for enlargement of existing House shall be 34 months of pay, in the Pay Band subject to a maximum of Rs.1.80 lakh or cost of the enlargement or repaying capacity whichever is the least,
4. Rate of Interest Sanctioned                             Advance

upto

Rate of interest P.A.

Rs.50,000/- 7.5%
Rs.1.50 lac 9%
Rs.5.00 lac 11%
Rs.7.50 lac 12%

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