Section 6(2) in The Regulations For Disbursement of Loans Under The Middle Income Group Housing Scheme, 1968
(2)Loans can also be sanctioned by the Parishad to persons eligible under this scheme for the purchase 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 standard of technical efficiency (i.e., m 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.
