Government of Himachal Pradesh
Finance(Regulations) Department
No.Fin(C)A(3)-5/2009 Dated Shimla-171002, the 1st September, 2012.
OFFICE MEMORANDUM
Consequent upon the revision of Pay Scales of the State Government Employees w.e.f. 1.1.2006, the matter regarding revision of the rates/ entitlements/ limits of the House Building Advance to the State Government employees was under consideration of the Government. The Governor, Himachal Pradesh is pleased to order that quantum of amount of House Building Advance will be as under:-
| Sl.No | Item | Revised Entitlements | |
| 1. | Quantum of HBA | The maximum limit for grant of House Building Advance shall be 34 months of pay in the Pay Band subject to maximum of Rs.7.50 lakhs or the cost of the house or repaying capacity whichever is the least,for new construction/purchase of new house/flat. | |
| 2. | Cost Ceiling Limit | The cost ceiling limit shall be 134 times of the pay in the Pay Band subject to a minimum of 7.50 lakh and a maximum of Rs.30.00 lakhs relaxable upto a maximum of 25% of the revised maximum cost ceiling of Rs.30.00 lakhs. | |
| 3. | Quantum of Advance for repair/enlargement of the existing house. | The maximum limit for grant of HBA for enlargement of existing House shall be 34 months 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. | |
| 4. | Rate of Interest | Sanctioned Advance upto | Rate of interest P.A. |
| Rs.50,000/- | 7.5% | ||
| Rs.1.50 lac | 9% | ||
| Rs.5.00 lac | 11% | ||
| Rs.7.50 lac | 12% | ||
2. The enhancement/revision will be admissible only in those cases of House Building Advances where either the fresh cases of House Building Advance OR installments were/are pending for sanction on OR after 1.9.2012.
3. Other terms and conditions for grant of House Building Advance shall remain the same as prescribed from time to time.
4. These orders will be effective from 1st September, 2012.
sd/-
Joint Secretary(Finance) to the
Government of Himachal Pradesh.
Source:http://himachal.gov.in/finance/Regulations/HBAMemo1Sep2012_A1b.pdf
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