Interest Bearing Advances/Seventh Central Pay Commission recommendation on migration of existing government employees who have already taken Home Loans from Bank / Other Financial Institutions
Office of the Controller General of Defence Accounts
Ulan Batar Road, Palam, Delhi Cantt – 10
No.AN/VII/7117/GPF/2018-19 Dated: 19.11.2018
Sub: Interest bearing advances/Seventh Central Pay Commission recommendation on migration of existing government employees who have already taken Home Laons from Bank / Other Financial Institutions – reg.
A copy of Government of India, Ministry of Housing & Urban Affairs, Housing-II Section OM No.I-17011/11(4)/2016-H.III dated 31.01.2018 on the subject is enclosed herewith for your information and disseminating under your organisation.
Accounts Officer (Admin)
7th CPC HBA – Migration of Existing Employees – MoHUA Orders on 31.1.2018
Government of India
Ministry of Housing & Urban Affairs
Nirman Bhawan, New Delhi,
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)