As per the Government Order read 1s paper above, Government employees were permitted to avail House Building loans from recognized financial institutions by creating Second Mortgage on the propefi already pledged to Government.
2) As per the Government order 2n0,3’o and 4th cited the cost ceiling for creating 2nd mortgage has been enhanced thrice previously. Now the Government Order under 4h 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 4th 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.
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