7th CPC HBA Orders: Migration of Existing Home Loans from Banks/other Financial Institutions

7th CPC recommendation on migration of existing government employees who have already taken Home Loans from Banks/ other Financial Institutions – reg.

I-17011/11(4)/2016-H.III

Government of India 

Ministry of Housing & Urban Affairs 

Housing-III Section

***** 

Nirman Bhawan, New Delhi,

Dated:31.01.2018.

OFFICE MEMORANDUM

Kind attention is invited to para 2(viii) of this Ministry’s OM. No. I-17011/11(4)/2016-H.III dated 09.11.2017 on the above mentioned subject
regarding fulfilment of extant conditions, the 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 limited to the 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 he/ she obtained loans from banks and other financial institutions, irrespective of whether they applied for House Building Advance before raising the loan. 

d) House Building Advance for repayment of loans shall be granted to the eligible employees in one lump sum. However, the Government employee shall produce the HBA Utilization Certificate within one month from the
date of release of HBA. 

e) Employee has to satisfy the other provisions of the House Building
Advance Rules -2017. 

(Shailendra Vikram Singh)

Director(IFD)

Tel:011-23062798

To,

All the Ministries and Departments of the Government of India, C&AG and

UPSC, etc. as per standard endorsement list.