Interest bearing advances/ Seventh Central Pay commission on migration Of existing government employees who have already taken Home Loans from Banks’ other Financial Institutions
1-17011/11(4)/2016-H.III
Government of India
Ministry of Housing & Urban Affairs
Housing-III Section
Government of India
Ministry of Housing & Urban Affairs
Housing-III Section
Nirman Bhawan, New Delhi,
Dated:31.01.2018
Dated:31.01.2018
Office Memorandum
Subject: Interest bearing advances/ Seventh Central Pay
commission on migration Of existing government employees who have
already taken Home Loans from Banks’ other Financial Institutions — reg.
Kind attention is invited to para 2(viii) of this Ministry’s OM. No. l-
17011/11 (4)/2016-H.III dated 09.11-2017 on the above-mentioned subject
regarding fulfilment of extant conditions, extant conditions are
clarified as follows.
a) Before granting such House Building Advance. the Head of the Department
i) Should satisfy himself that the home loans were taken by
the government employee entirely for purpose of construction / purchase
of new house/ flat.
ii) Should ensure that the House Building Advance sanctioned
is to tie amount of loan still due to be repaid by the government
employee
b) House Building Advance can be availed towards repayment
of bank loan taken for the purpose of construction/ purchase of new
house/ flat.
C) Employee shall be eligible for grant Of House Building
Advance on the date she obtained loans from banks and other financial
institutions, irrespective of whether they applied for House Building
Advance before raising he loan.
d) House Building Advance fry repayment of loans Shall be
granted to the Eligible employees in one lump sum. However, the
Government employee shall produce the HBA Utilisation Certificate within
one month the date of release of HBA
e) Employee has to satisfy tie other provisions of the House Building Advance Rules -2017.
(Shailendra Vikram Singh)
Director(FD)
Director(FD)
