Government of Telangana after the careful concern of the recommendations
of the tenth pay revision commission and in alteration of the orders
issued by the government order enhanced the existing ceiling of house
building advance to the state government employees, for the purchase of
ready built flat/ house, for purchase of site-cum-construction of new
flat/ house and for the construction of new house/ flat on the site
which was already owned by the employee as follows.
Sl. No.
|
Payment ranges in Revised Pay Scales 2015
|
Enhanced Maximum Ceiling
|
Eligible Total Amount
|
Rate of Interest
|
1
|
Employees
those who are drawing basic pay up to Rs.26600/- per month.
|
Rs.
10.00 Lakhs would be given
|
Rs.10.00
Lakhs or 72 times of basic pay, whichever is less.
|
For
Class.IV employees @ 5.00% p.a. For others @ 5.50% p.a.
|
2
|
Employees
drawing basic pay above Rs.26,600/- p.m. and up to Rs.42,490/- p.m.
|
Rs.
12.30 Lakhs would be given
|
Rs.
12.30 Lakhs or 72 times of basic pay, whichever is less.
|
5.50%
p.a.
|
3
|
Employees
drawing basic pay above Rs.42,490 p.m. and up to Rs.61,450 p.m.
|
Rs.
15.00 Lakhs would be given
|
Rs.
15.00 Lakhs or 72 times of basic pay, whichever is less.
|
5.50%
p.a.
|
4
|
Employees
drawing basic pay above
Rs.61,450/- p.m. |
Rs.20.00
Lakhs would be given
|
Rs.20.00
Lakhs or 72 times of basic pay, whichever is less.
|
5.50%
p.a.
|
5
|
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) |
Rs.25.00
Lakhs would be given
|
Rs.25.00
Lakhs
or 50 times of basic pay, whichever is less. |
5.50%
p.a.
|
As per source order would come into force from 1st April 2015, so all state government employees of are hereby announced to get ready enjoy this facility.
Government of Telangana further order that the following existing recovery model shall continue: employees those e who get beneficial by this scheme would repay the loan amount as follow.
House Building Advance: 300 monthly installments, i.e. 240 principal + 60 interests.
House site: 72 monthly installments, i.e. 60 principal + 12 interests.
Repairs: 90 monthly installments, i.e.75 principal + 15 interest.
Note: Penal 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 official procedure
