MS-3: LOANS AND ADVANCES – Advance for Ready Built House to Sri K.Ramachandra Reddy, Section Officer, BC Welfare Department, Rs.6,00,000/- (Rupees Six Lakhs only) for purchase of Ready built House - Sanctioned – Orders – Issued.

GOVERNMENT OF ANDHRA PRADESH ABSTRACT LOANS AND ADVANCES – Advance for Ready Built House to Sri K.Ramachandra Reddy, Section Officer, BC Welfare Department, Rs.6,00,000/- (Rupees Six Lakhs only) for purchase of Ready built House - Sanctioned – Orders – Issued. BACKWARD CLASSES WELFARE (OP) DEPARTMENT G.O.Ms.No. 3 Dated: 04.02.2012. Read the following:- 1. G.O.Ms.No.174, Finance (A&L), Dated: 15.05.2010. 2. G.O.Rt.No.4156, Finance (A&L), Dated: 23.11.2011. 3. G.O.Rt.No.459, BC Welfare (OP)Department, Dated: 28.12.2011 4. Application of Sri. K.Ramachandra Reddy, Section Officer, Backward Classes Welfare Department, Dated:21.1.2012. **** O R D E R: Under Article-226 & 233-A of the A.P. Financial Code Vol.l the rules for grant of loans to Govt. Servants for House Building purpose and in pursuance of the orders issued in the Government, G.O.Nos.1st to 3rd read above, the Government hereby sanction House Building Advance of Rs.6,00,000/- (Rupees Six Lakhs Only) to Sri. K.Ramachandra Reddy, Section Officer, Backward Classes Welfare Department for the purpose of Ready Built House under the terms and conditions laid down in G.O.Rt.No.368, Finance & Planning Department, dated: 02.03.1958, and subsequent orders if any. The sanction of the advance is subject to the following conditions:- i). The amount of Rs.6,00,000/- sanctioned in para above (Rupees Six Lakhs only) shall be payable in the form of a crossed Cheque / Demand Draft drawn in favour of Sri Gopu Bhaskar Reddy S/o Gopu Yalla Reddy, R/o. Chinna Obinenipalli Village, Bestawarapeta Mandal, Prakasham District, A/c No.32171044900, State Bank of India, Cumbum, Prakasham District, IFSC Code: SBIN0001173, MICR Code:523002543. The Cheque will be handed over to the Vendor through the Departmental representative of BC Welfare Department, before the Sub-Registrar at the time of registration of sale Deed. ii). The advance sanctioned above shall be recovered in 181 installments i.e., at the rate of Rs.4,200/- for 1st month and at the rate of Rs.3,310/- from 2nd month to 181 months, which is commencing from the month of March, 2012. The interest will be charged at the rate of 5.5% per annum and it will be recovered in 30 monthly installments. iii). The purchase of the house must be completed and get the house mortgaged to Government within 3 (three) months from the date of drawal of the advance, falling which the advance together with interest there on shall be refunded forthwith. iv). He shall insure the house at his cost for sum not less than the amount of the advance with interest due thereon and shall keep the house so insured against damage by fire, or lightening till the advance with interest due thereon is fully repaid to the Government and deposit the policy with the Government. Contd…2::2:: v). The house shall be maintained and repaired at his own cost and he shall pay all municipality and local taxes regularly until the advance is repaid in full. vi). He shall keep the house free from all encumbrance. vii). He shall furnish surety bonds in the prescribed FORM-IX from a permanent Government servant drawing pay not less than his pay as required under rule 5 (b) (i) of House Building Advance Rules; He shall furnish agreement bond in Form-VI under rule 5 (a) (3) of the H.B.A. Rules; and viii). The recovery shall commence from the pay of the month following that in which the advance is drawn. 2. If any amount of advance drawn is found to be in excess of the expenditure incurred, it should be refunded forthwith with interest to Government. 3. The Insurance Policy should be forwarded to the Accountant General, A.P., Hyderabad, for perusal together with letter addressed to the Insurance Company with whom the building is insured, notifying to the company that the Government are interested in the policy secured. The insurance policy should be renewed every year till the entire loan amount is repaid. 4. It will be open to the loanee to repay the amount in shorter periods if he so desires. The balance of the advance with interest, if any, remaining un-paid should be recovered from the whole or any specified part of the retirement gratuity that may be sanctioned to him. 5. In case, the loanee does not repay the balance of the advance due to Government on or before the date of retirement, it shall be open to Government to endorse the security of the mortgage at any time there after and recover the balance of the advance due to together with interest and the cost of recovery by sale of the house or in such other manner as may be permissible under the law. The recovery of the advance shall be effected through the monthly pay / leave salary bills of the loanee. If the loanee ceases to be in service for any reason other than normal retirement by superannuation or if he dies before the repayment of the advance is completed, the entire outstanding amount of advance shall become payable to the Government forthwith. Failure on the part of the loanee or his successors in interest to repay the advance for any reason whatsoever will entails the Government to enforce the mortgage or to take such other action as may be permissible under the law. The property mortgaged to the Government shall be reconveyed to the loanee or his successors in interest as the case may be after the advance together with interest thereon has been repaid to the Government in full. 6. The agreement bond obtained from the individual is kept with the Department for record. 7. It is certified that the advance for the purchase of Ready Built House is sanctioned for the first time and that the individual has not taken any such advance previously. 8. The individual who is now sanctioned the advance for Ready Built House purpose has no house in his name and in the name of his wife or minor children. Contd.. 3::3:: 9. The amount sanctioned referred to para-2 (i) shall be met from the amount allotted to this Department in references first and second read above and shall be debited to the Head of account “7610-Loans to Government Servants, M.H.201 House Building Advance- S.H. (05) Loans to other Officers. 001 Loans to other Officers”. 10. This order does not require the concurrence of Finance (A & L) Department, as per rules and orders in force on the subject. ( BY ORDER AND IN THE NAME OF THE GOVERNOR OF ANDHRA PRADESH) ASHWINI KUMAR PARIDA PRINCIPAL SECRETARY TO GOVERNMENT To Sri. K.Ramachandra Reddy, Section Officer, BC Welfare Department. The Pay and Accounts Officer, Secretariat Branch, Hyderabad. Copy to: The BC Welfare (Claims) Dept., The Finance (A&L) Dept., The Accountant General, A.P., Hyderabad. Sri Gopu Bhaskar Reddy S/o Gopu Yalla Reddy, R/o. Chinna Obinenipalli Village, Bestawarapeta Mandal, Prakasham District. SF/SC // FORWARDED :: BY ORDER // SECTION OFFICER