HBA Interest Rate Concession for Small Family Norms Withdrawn

HBA Interest Rate Concession for Small Family Norms Withdrawn – Details of related Notifications listed before and after 7th Pay Commission Implementation

Small Family Norms in HBA Rules 2017 for Interest Rebate – 7th CPC recommendations implemented.

Government of India

Ministry of Housing & Urban

Housing – III Section

Nirman Bhawan, New Delhi,

Dated 31.01.2018.

OFFICE MEMORANDUM

Subject: Small Family Norms in House Building Advance Rules-2017 as per the recommendations of 7th CPC— reg.

The undersigned is directed to invite attention to Ministry of Finance’s 0M NO. 12(4)/2016-EIII.A dated 7th July 2017 on above mentioned subject and to say that interest rebate available to HBA beneficiaries for promoting small family norms shall cease to exist with effect from 01.07.2017.

(Shailendra Vikram Singh)

Director(IFD)

As a result of issue of above mentioned OM by Ministry of Housing, 0.5% housing loan interest concession available for maintaining small family norms has been withdrawn.  Checkout the following link which gives the details of small family norms housing loan interest rate concession

Click here for Housing Loan Interest concession available till 30.06.2017

Abolition of Family Planning Allowance as recommended by 7th Pay Commission:

Earlier as recommended by 7th Pay Commission for abolition of Family Planning Allowance was duly accepted by the Govt and and implemented vide Finance Ministry OM F. No.12(4)/2016-EIII.A dated 07.07.2017.

Click here for Finance Ministry OM dated 07.07.2017 for abolition for Family Planning Allowance on implementation of 7th Pay Commission

Checkout House Building Advance Rule 2017 (On implementation of 7th Pay Commission Report) – HBA Ceiling increased to Rs. 25 lakh