Even after two full years are over from the date when Government received the recommendations of Sixth Pay Commission, the modalities for Housing Loan proposed by 6cpc are yet to be framed. In the mean time Ministry of Urban development issued an interim order for grant of HBA after implementation of Sixth Pay Commission.
It could be seen that the maximum Housing loan that could be obtained after implementation of sixth pay commission report is only Rs.7.5 lakhs. We feel this would serve no purpose and Govt should come up with the new modalities for HBA as early as possible.
You might be aware of the recommendations of 6cpc in respect of Housing loan. As per 6cpc recommendations the existing system of lending directly by the government it to be dispensed with and nationalized banks would lend to government employees at a subsidized Interest rates.
This is the extract of 6cpc’s recommendations regarding HBA.
