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Dearness Pay to be counted alongwith basic pay for grant of House Building Advance
New Delhi: August 9, 2004

It has been decided to count Dearness Pay alongwith basic pay for the purpose of grant of House Building Advance and for the purpose of calculating repaying capacity. Accordingly the basic pay will be the sum total of existing basic pay and the dearness pay. However, the existing maximum limits of HBA of Rs.7.5 lakh for construction/purchase and Rs.1,80,000/- for enlargement of existing house will remain unchanged. Also, the existing cost ceiling limits of Rs.7.50 lakh (minimum) and Rs.18 lakh (Maximum), relaxable upto a maximum of 25% in individual cases will continue to be unchanged.

Rates of interest are as follows :-

Upto Rs.50,000/- - 5%
Upto Rs.1,50,000/- - 6.5%
Upto Rs.5,00,000/- - 8.5%
Upto Rs.7,50,000/- - 9.5%


All other provisions of HBA rules like eligibility, repaying capacity, recovery, etc. will remain unchanged.

Press Release: PIB
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