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This Scheme of House Building Advance to Central Government Employees is very support to build or purchase an Individual or Falt for own in service. The scheme is introduced by Ministry of Urban Development & Poverty Alleviation Act as the nodal Ministry for the same in 1956.
The salient features of House Building Advance :-
Eligibility Criteria :-
(a) All permanent employees.
(b) Employees with at least 10 years’ continious service.
(c) If both husband and wife are Government servants, advance is admissible to only of them.
Purposes :-
(a) Acquiring a plot constructing a house.
(b) Constructing a new house on the plot laready owned by the official or jointly with his/her spouse.
(c) Getting a plot under Co-operative Schemes
(d) Extension of living accommodation in an existing house.
(e) Repayment of a loan taken from HUDCO for house construction.
(f) Purchase flats form Registered Builders
Advance Amount :-
(a) The Maximum Limit for grant of House Building Advance shall be 34 months’ of band pay subject to a maximum of Rs.7,50,000 or cost of the house or the repaying capacity whichever is the least, for new construction/purchase of new house/flat.
(b)The maximum limit for grant of HBA for enlargement of existing house shall be 34 months’ 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.
(c)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 lakh relaxable up to a maximum of 25% of the revised maximum cost ceiling of Rs.30 lakh.
(d) The rate of interest on House Building Advance is between 5% to 9.5% ,depending on the loan amount.
(e) The repaying capacity of Govt. servants who have more than 20 years of remaining service has been revised from 35% to 40% of pay. (Pay means pay in the pay band).
For more details visit www.urbanindia.nic.in
RATE OF INTEREST:-
| Amount of Loan Sanctioned |
From 16.12.97 to 31.3.01 |
From 1.4.01 to 31.3.02 |
From 1.4.02 to 31.3.03 |
From 1.4.03 |
| Up to Rs.50,000 |
7.5% |
6.5% |
6% |
5% |
| Rs.50,000 to Rs.1,00,000 |
9% |
8% |
7.5% |
6.5% |
| Rs.1,00,000 to Rs.1,50,000 |
9% |
8% |
7.5% |
6.5% |
| Rs.1,50,000 to Rs.2,00,000 |
11% |
10% |
9.5% |
8.5% |
| Rs.2,00,000 to Rs.2,25,000 |
11% |
10% |
9.5% |
8.5% |
| Rs.2,25,000 to Rs.5,00,000 |
11% |
10% |
9.5% |
8.5% |
| Rs.5,00,000 to Rs.7,50,000 |
12% |
11% |
10.5% |
9.5% |
|
7 Responses
Can anyone tell me that how to obtain HBA??? I am Central Govt Employee…
Thanks & Regards
I want to HBA. My PB 9300-34800 and pay is 9300+4200 so that total amount will be grant for HBA
I am working as a SO. I have to submit my ACR to US(Reporting Officer) but unfortunately he died.. now, should I directly submit my ACR to DS(Reviewing Officer)? what are the options for me
is it possible to take HBA for purchasing site & construction?
If I have taken loan from Bank initially can I apply for HBA?
Pls give an advice
I want to HBA. My PB 9300-34800 (17300+DA etc) so that total amount will be grant for HBA. Here it may be mentioned that I Have taken loan from bank for the purchcase of plot. Please tell me advice in this regard.Can I apply for HBA.
Om Parkash, AIR, Chandigarh
I joined in the state govt. service as an exhibition Assistant (equivalent to junior grade IIS in the central service) and due for MACP.In my state this post is isolated. Can I claim for ACP in conformity with the central govt. employees for fixing my pay under ACP/MACP as may be elligible for Jr. Gd. IIS getting MACP being fixed in the Sr. Gd Scale of Rs.2000 – 3200/-(4th CPC).please help!
sir, kindly reply me the actual eligibility criteria for ota of central govt. employees other than railway employees. also total ceiling of ota amount. wheter higher rate ota is inclusive in total ota limit
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