Interest bearing advances/Sixth Central Pay Commission recommendation on House Building Advance-enhancement in past cases-regarding
Government of India
Ministry of Urban Development
(Housing -III section)
Nirman Bhawan, New Delhi.
Dated:- the 27th Nov, 2008
Subject: Interest bearing advances/Sixth Central Pay Commission recommendation on House Building Advance-enhancement in past cases-regarding.
The undersigned is directed to say that the implementation of the recommendations of the Sixth Central Pay Commission relating to interest bearing advances, including House Building Advance, granted to Central Government employees is under consideration of the Government.
2.Pending finalisation of the new arrangements, the matter has been examined in consultation with the Department of Expenditure and the following provisions for House Building Advance shall be in operation:
(i) The maximum limit for grant of HBA shall be 34 months’ of pay in the pay band subject to a maximum of Rs.7.50 lakh or cost of the house or the repaying capacity whichever is the least, for new construction/purchase of new house/flat.
(ii) 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.
(iii) The cost ceiling limit shall be 134 times the pay in the pay band subject to a minimum of Rs.7.50 lakh and a maximum of Rs.30.00 lakh relaxable up to a maximum of 25% of the revised maximum cost ceiling of Rs.30.00 lakh.
4. All Ministries/Departments of Government of India are requested to bring the contents of this O.M. to the notice of all concerned.
5. These orders shall be effective from the date of their issue.
Deputy Financial Adviser