7th Pay Commission

7th Pay Commission – After the Dearness Allowance hike, the government has recently made another big announcement for the employees. Central Govt. employees will get another big amount of money after DA increase.

After 7th Pay Commission DA hike, employees can get advance money for construction of house with a minimum interest in the new scheme. The central government has allocated a good amount of money to its employees for building houses. Employees can take advance if they want.

7th Pay Commission – After DA hike, this is going to be a jackpot!

Central government employees will get a maximum amount of Rs29 lakh for building a dream house. Earlier, if any employee took this advance money, he/she had to pay interest at the rate of 7.9%. But, now if any employee took this advance money, he/she has to pay interest at the rate of 7.3%. Interest will remain at this rate till 31 March 2023.

In this regard, guidelines will be issued by the government. Special guidelines have been issued by the Ministry. This decision of the central government will allow the workers to build a roof over their heads. You can spend less in buying or reselling a flat.

Amount:-
After the 7th Pay Commission DA hike, this is going to be a jackpot for the employees. 25 lakhs will be given to central government employees for construction of houses.

Benefits:-
After the 7th Pay Commission DA hike, in this new scheme, the central government employees will get 2 types of benefits.
1) Employees can repay the money in one maximum installment of 32 months.
2) Employees can get a maximum of Rs. 25 lakhs as advance.

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Many employees will be benefitted by this facility of the central Govt. employees. Under the House Building Advance facility can purchase houses in their own name or in the name of their spouse.
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Written and edited by Rajeshwari.

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