Telangana PRC 2015 House Building Advance Enhanced

Telangana PRC 2015 House Building Advance, Telangana State Govt enhanced the existing ceiling of House Building Advance to the State Govt employees. wef 1-4-15. G.O.Ms.No.37, Dated:10-04-2015:

Government of Telangana, Finance Department, Loans and Advances – House Building Advance- Recommendation of Tenth Pay Revision Commission – Admissibility in Revised Pay Scales, 2015- Accepted – Orders– Issued.

Reference:

  1. G.O.Ms.No.174, Finance (A&L) Department, dt:15-05-2010.
  2. G.O.Ms.No. 95, G. A. (Spl. A) Department, dt: 28-02-2013.
  3. G.O.Ms.No. 25, Finance (HRM.IV) Department, dt: 18-3-2015.

ORDER:
In the Government Order 3rd read above, based on the recommendations of Tenth Pay Revision Commission, orders were issued implementing the Revised Pay Scales, 2015 to the State Government employees.

The Tenth Pay Revision Commission among others has recommended enhancement of eligibility ceiling in respect of House Building Advance to the State Government employees, in the Revised Pay Scales, 2015.

Government, after careful consideration of the recommendations of the Tenth Pay Revision Commission and in modification of the orders issued in Government order 1st read above, hereby enhance the existing ceiling of House Building Advance to the State Government employees, for the purchase of ready built house/ flat, for purchase of site-cum-construction of new house/ flat and for the construction of new house/ flat on the site already owned by the employee as follows:

Sl. No.Pay ranges in Revised Pay Scales, 2015Enhanced Maximum CeilingEligible AmountRate of Interest
1Employees drawing basic pay upto Rs.26600/- per month.Rs. 10.00 LakhsRs.10.00 Lakhs or 72 times of basic pay, whichever is less.For Class.IV employees @ 5.00% p.a. For others @ 5.50% p.a.
2Employees drawing basic pay above Rs.26,600/- p.m. and upto Rs.42,490/- p.m.Rs. 12.30 LakhsRs. 12.30 Lakhs or 72 times of basic pay, whichever is less.-do-
3Employees drawing basic pay above Rs.42,490 p.m. and upto Rs.61,450 p.m.Rs. 15.00 LakhsRs. 15.00 Lakhs or 72 times of basic pay, whichever is less.-do-
4Employees drawing basic pay above Rs.61,450/- p.m.Rs.20.00 LakhsRs.20.00 Lakhs or 72 times of basic pay, whichever is less.-do-
5All India Services Officers working in the State (All India Services officers working in the State may be given the option to choose either the State Govt. ceiling or to adopt Govt. of India rules)Rs.25.00 LakhsRs.25.00 Lakhs or 50 times of basic pay, whichever is less.-do-
Telangana PRC 2015 House Building Advance

Further, Government hereby enhance the existing ceiling of House Building Advance for repairs/ extension etc., to twenty times of basic pay in the Revised Pay Scales, 2015 or Rs.4.00 Lakhs, whichever is less.

Government also considered purchase of house site and hereby sanction ten times of basic pay in the Revised Pay Scales, 2015 or Rs.2.00 Lakhs, which ever is less.

Government further order that the following existing recovery pattern shall continue: House Building Advance : 300 monthly instalments, i.e. 240 principal + 60 interest.
Repairs : 90 monthly instalments, i.e.75 principal + 15 interest.
House site : 72 monthly instalments, i.e. 60 principal + 12 interest.

Penal Interest will be charged at double the rate of normal interest in case the advance is misutilised or not utilized at all and at 1 ½ times the normal rates for non-compliance with formalities.

All other conditions governing the sanction of House Building Advance under the existing Rules will continue.

These orders shall come into force from 01-04-2015.

Download the GO.37 HBA Enhanced to Govt. Employees from here

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