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Wednesday, February 14, 2018

HBA Interest Rate Concession for Small Family Norms Withdrawn

Press Information Bureau
Government of India
Ministry of Housing & Urban Affairs
09-November-2017 18:33 IST
House Building Advance 2017

The Government has revised the House Building Advance (HBA) rules for Central Government Employees incorporating the accepted recommendations of the 7th Pay Commission.  Following are the salient features of the new rules:-
1.         The total amount of advance that a central government employee can borrow from government has been revised upwards.  The employee can up to borrow 34 months of the basic pay subject to a maximum of Rs. 25 lakhs (Rs. Twenty Five Lakhs only), or cost of the house/flat, or the amount according to repaying capacity, whichever is the least for new construction/purchase of new house/flat.  Earlier this limit was only Rs.7.50 lakhs.
2.         Similarly, the HBA amount for expansion of the house has been revised to a maximum of Rs.10 lakhs or 34 months of basic pay or cost of the expansion of the house or amount according to repaying capacity, whichever is least. This amount was earlier Rs.1.80 lakhs. 
3.      The cost ceiling limit of the house which an employee can construct/ purchase has been revised to Rs.1.00 crore with a proviso of upward revision of 25% in deserving cases. The earlier cost ceiling limit was Rs.30 lakhs.
4.      Both spouses, if they are central government employees, are now eligible to take HBA either jointly, or separately.  Earlier only one spouse was eligible for House Building Advance.
5.      There is a provision for individuals migrating from home loans taken from Financial Institutions/ Banks to HBA, if they so desire.
6.      The provision for availing ‘second charge’ on the house for taking loans to fund balance amount from Banks/ Financial Institutions has been simplified considerably. ‘No Objection Certificate’ will be issued along with sanction order of HBA, on employee’s declaration.
7.      Henceforth, the rate of Interest on Housing Building Advance shall be at only one rate of 8.50% at simple interest (in place of the earlier four slabs of  bearing interest rates ranging from 6% to 9.50% for different slabs of HBA which ranged from Rs.50,000/- to Rs.7,50,000/-) .
8.       This rate of interest shall be reviewed every three yearsAll cases of subsequent tranches/ installments of HBA being taken by the employee in different financial years shall be governed by the applicable rate of interest in the year in which the HBA was sanctioned, in the event of change in the rate of interest.  HBA is admissible to an employee only once in a life time.
9.      The clause of adding a higher rate of interest at 2.5% (two point five percent) above the prescribed rate during sanction of House Building Advance stands withdrawn. Earlier the employee was sanctioned an advance at an interest rate of 2.5%  above the scheduled rates with the stipulation that if conditions attached to the sanction including those relating to the recovery of amount are fulfilled completely,  to the satisfaction of the competent authority, a rebate of interest to the extent of 2.5% was allowed.
10.  The methodology of recovery of HBA shall continue as per the existing pattern recovery of principal first in the first fifteen years in 180 monthly instalments and interest thereafter in next five years in 60 monthly instalments.
11.   The house/flat constructed/purchased with the help of House Building advance can be insured with the private insurance companies which are approved by Insurance Regulatory Development Authority (IRDA). 
12.       This attractive package is expected to incentivize the government employee to buy house/ flat by taking the revised HBA along with other bank loans, if required.  This will give a fillip to the Housing infrastructure sector.

Grant of leave to officers belonging to All India Services on completion of their tenures of Inter-cadre deputation

F.No. 14017/06/2017-AIS-II 
Government of India 
Ministry of Personnel, Public Grievance and Pensions 
Department of Personnel & Training
North Block, New Delhi
dated 9th February, 2018
The Chief Secretaries of all the 
State Governments / UTs
Subject: Grant of leave to officers belonging to All India Services on completion of their tenures of Inter-cadre deputation - reg.
This Department has issued Consolidated Deputation Guidelines for All India Services w.r.t. Rule 6 of the IAS (Cadre) Rules, 1954 and analogous provisions in the IPS (Cadre) Rules and IFoS (Cadre) Rules, vide letter No. 14017/33/2005-AIS(II)(Pt.) dated 28th November 2007. 
2. Clause 1.3 under para 3.2 of the said instructions issued vide letter dated 28th November 2007 provides for inter-cadre deputation to another State Government, under Rule 6(2)(ii) of the IAS (Cadre) Rules, 1954 and analogous provisions in the IPS (Cadre) Rules and 1FoS (Cadre) Rules. Maximum tenure of 5 years has been provided for this category, provided that the officer has Completed 9 years in his own cadre and has not reached the Super-time scale. 
3. In so far as Central Deputation as per clause 1.1 under Rule 6(1) is concerned, instructions issued vide this Department's OM No. 27(38)-EO (87 (SM) dated 20th May 1987 (copy enclosed) provide that on reversion from Central deputation, the officers concerned might be allowed leave not exceeding two months by the concerned Ministry Department, and that the officer concerned should apply for further leave to the State Government / Cadre Authority. It is also to be stated that such leave is debitable from the leave account of the Officer. 
4. The matter regarding extending these instructions to cases of inter-cadre deputation has been considered and it has now been decided with the approval of the Competent Authority that the said instructions dated 20th May 1987 as amended from time-to-time are also applicable to cases of inter-cadre deputations mentioned above. 
(Jyotnsa Gupta)
Under Secretary to the Govt. of India
Source: DoPT

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 Notification : Features added in v5.0
  • Added New categories for incidents and requests
  • WEG Code is added and now it is mandatory
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Central Civil Services (Leave Travel Concession) Rules, 1988 - Fulfillment of procedural requirements - Clarification : Department of Posts