Section 8 in Regulations For The Disbursement of Loans Under The Low Income Group Housing Scheme, 1968
8.
Eligibility of individuals for loans. - (1) A person desirous of constructing a house for residential purpose within the limits of the City or Municipality or within such area outside the limits of the City or Municipalities as may be specified in the notification under section 354 of the U.P. Nagar Mahapalika Adhiniyam, 1959, or under section 3 of the U.P. Municipalities Act, 1916, as the case may be, will be, eligible for the loan provided that -(a)his income from all sources does not exceed Rs.7,200 per year exclusive of the income of other earning members of the family;(b)he possesses freely and exclusively a plot of land within the city or the municipality where he proposes to construct a house;(c)he is a major;(d)that, if he is a displaced person, the District Relief and Rehabilitation Officer certifies that he has not taken any loan for construction of a house under any of the schemes of Relief and Rehabilitation Department;(e)he does not already own any house within the limits of the City or the Municipality where he purposes to construct his house;(f)he does not own more than one house in Uttar Pradesh;(g)he has not taken any loan for construction of houses or purchase of a house under any Housing Scheme of the State or the Central Government either in his own name or in the name of his wife/her husband or dependent child; and/or has not previously availed himself/herself of any financial assistance from the Government for construction of a house anywhere within India;(h)That he utilises the loan for the construction of a house which is required for the bona fide residential purposes; the loan will not be granted to a person who already owns a house within the city or the municipality where he purposes to construct his house with the loan and the grounds that he cannot occupy his existing house because of its. already being let out on rent or because it is situated at a place other than . the place of his/her work or business, will not be accepted;(i)loans can also be sanctioned by the Parishad to persons eligible under this scheme for the purpose also of newly built houses from reliable building companies or other private building agencies with the prior approval of the Parishad, provided that -(i)such houses are purchased within a period not exceeding 12 months from the date of completion of construction;(ii)the Parishad is satisfied that the houses are reasonably priced and they are of acceptable standards of technical efficiency (i.e. in regard to durability, safety, etc.); and(iii ) the persons who purchase these newly built houses undertake not to sell these for a period of at least 5 years from the date of their purchase.
