House Building Advance to Central Government Employees
The scheme was introduced in 1956, as a welfare measure. Ministry of Urban Development & Poverty Alleviation act as the nodal Ministry for the same.
- Permanent Government employees.
- Temporary Government employees who have rendered at least 10 years continuous service.
- To be granted once during the entire service.
- Constructing a new house on the plot owned by the official or the Official and the Official’s wife/husband jointly.
- Purchasing a plot and constructing a house thereon.
- Purchasing a plot under Co-operative Schemes and Constructing a house thereon or acquiring house through membership of Co-operative Group Housing Scheme.
- Purchasing /construction of house under the Self-Financing scheme of Delhi, Bangalore, U.P., Lucknow etc.
- Outright purchase of new ready-built house/flat Housing boards, Development Authorities and other statutory or semi-Government bodies and also from private parties.*
- Enlarging living accommodation in an existing house owned by the official or jointly with his/her wife/husband. The total cost of the existing structure (excluding cost of land) and the proposed additions should not exceed the prescribed cost ceiling.
- Repayment of loan or advance taken from a Government or HUDCO or Private source even if the construction has already Commenced, subject to certain conditions.
- Constructing the residential portion only of the building on a Plot which is earmarked as a shop-cum-residential plot in a Residential colony.
- will be the LEAST of the following:-
S. No.
|
Length of remaining service of the applicant.
|
Repaying Capacity
|
1.
|
Retiring after 20 years.
|
40% of pay @
|
2.
|
Retiring after 10 years but not later than 20 years.
|
40% of pay @ plus 65% of * Retirement Gratuity
|
3.
|
Retiring within 10 years
|
50% of pay @ plus 75% of * Retirement Gratuity.
|
@ Pay means pay in the pay band
S. No.
|
Purpose of HBA
|
Disbursement
|
|
(1)
|
(2)
|
(3)
|
|
(i)
|
For construction/enlargement (single or double storeyed).
|
50% –
50% |
on execution of mortgage deed
on construction reaching plinth level (Ground Floor). |
(ii)
|
For purchase of land and construction (Single storeyed)
|
40% or –
actual cost 30% – 30% – |
for purchase of plot on execution of agreement and production of Surety Bond.
On execution of Mortgage deed. On construction reaching plinth level. |
(iii)
|
For purchase of land and construction (Double storeyed)
|
35% or actual cost
32.5% – 32.5% – |
for purchase of plot on execution of agreement and production of Surety bond.
On execution of the mortgage deed. On construction reaching the plinth level. |
(iv)
|
For purchase of ready built house/flat
|
100% – in one lumpsum.
|
|
(v)
|
For acquiring flat/house from Co-operative Group Housing Society.
|
20% –
80% – |
Towards purchase of land by the Society.
in suitable installments on receipt of demand (pro-rate basis)
|
(vi)
|
For purchase of flat under SFS of Development Authorities etc.
|
|
No payment for initial registration Deposit.
May be released in not more than 5 instalments. But the fifth and final instalment should not be less than 10% and is to be released for making final payment.
|
S. No.
|
Purpose
|
Time limit
|
(a)
|
Purchase of registered plot on which construction can commence immediately.
|
Sale deed to be produced within 2 months.
|
(b)
|
Purchase of ready built house.
|
Acquisition and mortgage to Government to be completed within 3 months.
|
(c)
|
Purchase/construction of new flat
|
Should be utilised within one month of sanction.
|
S. No.
|
Amount of Advance sanctioned to a Government Servant
|
Rate of Interest on HBA (Per Annum).
|
1.
|
Upto Rs. 50,000/-
|
5%
|
2.
|
Upto Rs. 1,50,000
|
6.5%
|
3.
|
Upto Rs. 5,00,000/-
|
8.5%
|
4.
|
Upto Rs. 7,50,000/-
|
9.5%
|
Construction of a house or enlargement of living accommodation
|
* From pay for the month following the completion.
Or
The pay for the 18th month after date of payment of the 1st installment, whichever is earlier.
|
Purchase of land and construction.
|
* From pay for the month following the completion of the house.
Or
The pay for the 24th month after date of drawl of installment for purchase of land, whichever is earlier.
|
Ready built flat.
|
* Pay for the month following the month in which advance was drawn.
|
Purchase of Flat under SFS from Development Authority/Housing Society.
|
* From the pay for the 18th month after date of payment of 1st installment.
|
allowed.
manner.
Here we have given an example, how to calculate the interest amount for House Building Advance.
An employee has drawn House Building Advance as two installments of Rs.163750.
His first installment given on October 98 and the second installment on July 99.
He started to repay from November 99 with monthly Rs.1500.
Here we calculate the interest amount for the employee has to pay…
|
|
|
|
|
|
|
|
|
|
Nov-98 |
81875 |
|
|
|
Dec-98 |
81875 |
|
|
|
Jan-99 |
81875 |
|
|
|
Feb-99 |
81875 |
|
|
|
Mar-99 |
81875 |
|
|
|
Apr-99 |
81875 |
|
|
|
May-99 |
81875 |
|
|
|
Jun-99 |
81875 |
|
|
|
|
|
|
|
|
Aug-99 |
163750 |
|
|
|
Sep-99 |
163750 |
|
|
|
Oct-99 |
163750 |
|
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|
1 |
|
|
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2 |
Dec-99 |
|
|
|
3 |
Jan-00 |
|
|
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4 |
Feb-00 |
|
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5 |
Mar-00 |
|
|
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6 |
Apr-00 |
|
|
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7 |
May-00 |
|
|
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8 |
Jun-00 |
|
|
|
9 |
Jul-00 |
|
|
|
10 |
Aug-00 |
|
|
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11 |
Sep-00 |
|
|
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12 |
Oct-00 |
|
|
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13 |
Nov-00 |
|
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14 |
Dec-00 |
|
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15 |
Jan-01 |
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16 |
Feb-01 |
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17 |
Mar-01 |
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18 |
Apr-01 |
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19 |
May-01 |
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20 |
Jun-01 |
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21 |
Jul-01 |
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22 |
Aug-01 |
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23 |
Sep-01 |
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24 |
Oct-01 |
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25 |
Nov-01 |
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26 |
Dec-01 |
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27 |
Jan-02 |
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28 |
Feb-02 |
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29 |
Mar-02 |
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30 |
Apr-02 |
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31 |
May-02 |
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32 |
Jun-02 |
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33 |
Jul-02 |
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34 |
Aug-02 |
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|
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35 |
Sep-02 |
|
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36 |
Oct-02 |
|
|
|
37 |
Nov-02 |
|
|
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38 |
Dec-02 |
|
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39 |
Jan-03 |
|
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40 |
Feb-03 |
|
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41 |
Mar-03 |
|
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42 |
Apr-03 |
|
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43 |
May-03 |
|
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|
44 |
Jun-03 |
|
|
|
45 |
Jul-03 |
|
|
|
46 |
Aug-03 |
|
|
|
47 |
Sep-03 |
|
|
|
48 |
Oct-03 |
|
|
|
49 |
Nov-03 |
|
|
|
50 |
Dec-03 |
|
|
|
51 |
Jan-04 |
|
|
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52 |
Feb-04 |
|
|
|
53 |
Mar-04 |
|
|
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54 |
Apr-04 |
|
|
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55 |
May-04 |
|
|
|
56 |
Jun-04 |
|
|
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57 |
Jul-04 |
|
|
|
58 |
Aug-04 |
|
|
|
59 |
Sep-04 |
|
|
|
60 |
Oct-04 |
|
|
|
61 |
Nov-04 |
|
|
|
62 |
Dec-04 |
|
|
|
63 |
Jan-05 |
|
|
|
64 |
Feb-05 |
|
|
|
65 |
Mar-05 |
|
|
|
66 |
Apr-05 |
|
|
|
67 |
May-05 |
|
|
|
68 |
Jun-05 |
|
|
|
69 |
Jul-05 |
|
|
|
70 |
Aug-05 |
|
|
|
71 |
Sep-05 |
|
|
|
72 |
Oct-05 |
|
|
|
73 |
Nov-05 |
|
|
|
74 |
Dec-05 |
|
|
|
75 |
Jan-06 |
|
|
|
76 |
Feb-06 |
|
|
|
77 |
Mar-06 |
|
|
|
78 |
Apr-06 |
|
|
|
79 |
May-06 |
|
|
|
80 |
Jun-06 |
|
|
|
81 |
Jul-06 |
|
|
|
82 |
Aug-06 |
|
|
|
83 |
Sep-06 |
|
|
|
84 |
Oct-06 |
|
|
|
85 |
Nov-06 |
|
|
|
86 |
Dec-06 |
|
|
|
87 |
Jan-07 |
|
|
|
88 |
Feb-07 |
|
|
|
89 |
Mar-07 |
|
|
|
90 |
Apr-07 |
|
|
|
91 |
May-07 |
|
|
|
92 |
Jun-07 |
|
|
|
93 |
Jul-07 |
|
|
|
94 |
Aug-07 |
|
|
|
95 |
Sep-07 |
|
|
|
96 |
Oct-07 |
|
|
|
97 |
Nov-07 |
|
|
|
98 |
Dec-07 |
|
|
|
99 |
Jan-08 |
|
|
|
100 |
Feb-08 |
|
|
|
101 |
Mar-08 |
|
|
|
102 |
Apr-08 |
|
|
|
103 |
May-08 |
|
|
|
104 |
Jun-08 |
|
|
|
105 |
Jul-08 |
|
|
|
106 |
Aug-08 |
|
|
|
107 |
Sep-08 |
|
|
|
108 |
Oct-08 |
|
|
|
109 |
Nov-08 |
|
|
|
110 |
Dec-08 |
0 |
|
|
|
|
163750 |
|
Interest amount = 10248125 / 1200 X 10.5 = Rs.89671
Dear sir,
Iwork in kendriya vidyalayA NAMKUM & I9 OWN MY OWN HOUSE.i WOULD LIKE TO KNOW WHETHEr i may be allotted a qu7arter even if i have a house of my own.
Please mention the rules as well.
thanking you
Dr. Tilak
K.V.Namkum,ranchi