Maximum limit for grant of House Building Advance on the recommendations of the 6th CPC

Railway Board Letter No
F(E)Spl.2008/ADV.3/6 dated 12.01.2009
Date
RBE No
07/2009
Circular Subject
House Building Advance for Central Government/Railway employees :- Implementation of the recommendations of the 6th CPC

1.            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 lakhs 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 month’s 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 upto a maximum of 25% of the revised maximum cost ceiling of Rs.30.00 lakh.

 

3.         All Ministries/Departments of Government of India are requested to bring the contents of this O.M to the notice of all concerned.

4.         These orders shall be effective from the date of their issue.