Telangana Employees House Building Advance G.O Ms.No.37 Dated 10.04.2015 is released for TS Employees House Building Advance (Home Loan). Telangana Govt Employees can avail House Building Advance as per their Basic Pay. The TS Govt has issued G.O Ms.No.37 Dated 10.04.2015 regarding this scheme. The following is the G.O No.37 Copy of Telangana Employees House Building Advance
Loans and Advances—House Building Advance- Recommendation of Tenth Pay Revision Commission – Admissibility in Revised Pay Scales, 2015- Accepted – Orders– Issued
Finance (HRM.IV) Department, G.O.Ms.No.37 Dated 10-04-2015.
Read the following:-
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.
Telangana Employees House Building Advance G.O Ms.No.37
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.
2. 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.
3. 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:-
A) Employees drawing basic pay upto Rs.26600/- per month
Enhanced Maximum Ceiling: Rs.10,00,000
Eligible Amount: Rs.10.00 Lakhs or 72 times of basic pay, whichever is less
Rate of Interest: For Class 4 employees @ 5.00% p.a. For others @ 5.50% p.a.
B) Employees drawing basic pay above Rs.26,600/- p.m. and upto Rs.42,490/- p.m
Enhanced Maximum Ceiling: Rs.12,30,000
Eligible Amount: Rs.12.30 Lakhs or 72 times of basic pay, whichever is less
Rate of Interest: For Class 4 employees @ 5.00% p.a. For others @ 5.50% p.a.
C) Employees drawing basic pay above Rs.42,490 p.m. and upto Rs.61,450 p.m
Enhanced Maximum Ceiling: Rs.15,00,000
Eligible Amount: Rs.15.00 Lakhs or 72 times of basic pay, whichever is less
Rate of Interest: For Class 4 employees @ 5.00% p.a. For others @ 5.50% p.a.
D) Employees drawing basic pay above Rs.61,450/- p.m
Enhanced Maximum Ceiling: Rs.20,00,000
Eligible Amount: Rs.20.00 Lakhs or 72 times of basic pay, whichever is less
Rate of Interest: For Class 4 employees @ 5.00% p.a. For others @ 5.50% p.a.
E) All 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)
Enhanced Maximum Ceiling: Rs.25,00,000
Eligible Amount: Rs.25.00 Lakhs or 72 times of basic pay, whichever is less
Rate of Interest: For Class 4 employees @ 5.00% p.a. For others @ 5.50% p.a.
4.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.
5.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.
6.Government further order that the following existing recovery pattern shall continue:
- House Building Advance: 300 monthly installments, i.e. 240 principal + 60 interest.
- Repairs: 90 monthly installments, i.e.75 principal + 15 interest.
- House site: 72 monthly installments, i.e. 60 principal + 12 interest
7.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.
8.All other conditions governing the sanction of House Building Advance under the existing Rules will continue.
9.These orders shall come into force from 01-04-2015. This G.O is available online at http://goir.telangana.gov.in
Download Telangana Employees House Building Advance G.O Ms.No.37 Dated 10.04.2015 for detailed information.
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