Monday, February 25, 2013

HOUSE BUILDING ADVANCE SCHEME TO KERALA GOVERNMENT EMPLOYEES

GOVERNMENT OF KERALA
Abstract

HOUSE BUILDING ADVANCE SCHEME TO STATE GOVERNMENT EMPLOYEES — ADDITIONAL LOAN FROM RECOGNISED FINANCIAL INSITUTIONS — CREATION OF SECOND MORTGAGE — ENHANCEMENT OF LIMIT — SANCTIONED — ORDERS ISSUED.

FINANCE (HBA) DEPARTMENT

G.O. (P) No.87/2013/Fin.

Dated, Thiruvananthapuram, 18.02.2013.

Read:
1. G O (P) No.436/91/Fin. Dated 31.07.1991
2. G O (P) No.528/97/Fin. Dated 07.05.1997
3. G O (P) No.1610/99/Fin. Dated 22.07.1999
4. G O (P) No.76/08/Fin. Dated 11.02.2008
5. G O (P) No.505/09/Fin. Dated 12.11.2009
6. G O (P) No.85/2011/Fin. Dated 26.02.2011

ORDER

   1) As per the Government Order read 1st paper above, Government employees were permitted to avail House Building loans from recognized financial institutions by creating Second Mortgage on the property already pledged to Government.

   2) As per the Government order 2nd, 3rd and 4th cited the cost ceiling for creating 2nd mortgage has been enhanced thrice previously. Now the Government Order under 4th cited is running, accordingly cost ceiling limit stands 100 times of basic pay subject to the maximum of 10 lakh.

   3) Employees representing various departments have approached the Government with request to enhance the cost ceiling existing under the Government Order cited in view of the escalation of cost in construction had in the last 5 years. Besides pay revision makes them affordable to avail more amount as loans.

   4) Government have examined the matter in detail and are pleased to order that, the total amount of House Building Advance sanctioned by Government and the loan raised by Government servants from outside financial institutions by creating second mortgage shall not exceed the cost ceiling limit of 100 times of basic pay subject to maximum of Rs. 25 Lakhs. All other conditions existing in the Government Order read 4th paper above shall remains the same and will be followed.

(BY ORDER OF THE GOVERNOR)

T.GANGANDHARAN NAMBIAR
ADDITIONAL SECRETARY (FINANCE)

Source: www.finance.kerala.gov.in

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