House Building Advance is admissible for only one of these purposes

House Building Advance is admissible for only one of these purposes

House Building Advance (HBA) is admissible to an employee for only one of the purposes listed in the House Building Advance Rules 2017 issued by Ministry of Housing & Urban Affairs vide its OM No.I.17011/11(4)/2016-H-III Dated 09-11-2017

Grant of House Building Advance for Central Government employees is regulated in terms of rules and regulations laid down from time to time by the Ministry of Housing & Urban Affairs (erstwhile Ministry of urban Development).

2. Purpose

House Building Advance (HBA) is admissible to an employee for only one of the following purposes:-

i. Constructing a new house on the plot owned by the employee or spouse, either jointly or individually.

ii. Purchasing a plot and constructing a house thereon _

iii. Purchasing a plot under co-operative Schemes and constructing a house/flat thereon or acquiring a house through membership of Cooperative Group Housing Societies.

iv. Purchase/construction of house under the self-financing schemes Of Delhi, Bangalore. UP. Lucknow etc.

v. Outright purchase of a new ready-built house/ flat from Housing Boards. Development Authorities and other statutory or semi-Government bodies and from registered builders i.e.. registered private builders. architects, house building societies, etc.. but not from private individuals.

vi. Expansion of living accommodation of an existing house owned by the employee or jointly with spouse. The total cost of the existing structure (excluding cost of land) and the proposed additions should not exceed the prescribed cost ceiling under these rules.

vii. Repayment of loan or advance taken from a Government or HUDCO or private sources even if the construction has commenced, subject to certain conditions.

viii. Existing employees who have already taken Home Loans from Banks and other financial institutions are allowed to migrate to this scheme, Subject to fulfilment of extant conditions.

ix. Constructing Only residential portion of the building on a plot earmarked for a shop cum residential plot, in a residential colony, subject to prescribed cost ceiling

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