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Page 1 of 1 - Central Bureau of Investigation

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ii)iii)iv)The second charge can be created only in r/o loans for meetingthe balance cost <strong>of</strong> the house/flat.The total HBA plus the loan raised should not exceed theprescribed cost ceiling.Loan to be obtained should be from recognized financialinstitutions, such as, banks, government financialcorporations, co-operative housing finance institutions, publiccompanies formed and registered in India with the specificpurpose <strong>of</strong> financing housing like, Housing DevelopmentFinance Corporation Ltd.v) Second charge can also be created for enlarging livingaccommodation in the house constructed/acquired with HBA,if two years have elapsed after completion <strong>of</strong> the construction <strong>of</strong>the house.Rs 1500/- or anticipated price <strong>of</strong> cycle including STwhichever is less {Rule 212 (i)}Other conditions :a) Subsequent advance will not be available within 3 years <strong>of</strong> theearlier advance. Rs 1500/- or anticipated price <strong>of</strong> cycle includingST whichever is less {Rule 212 (i)}<strong>Page</strong> 161 <strong>of</strong> 161

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