499. [ [Substituted vide S.R.O. No. 1047/ 18.10.1979.]
The advance shall be granted by the council to an officer or servant of the Municipality and in no case such advance shall exceed [Seventy months] pay of the officer or servant of the Municipality or rupees [Sixty thousand] [Substituted vide H.U.D. Department Notification No. 29574/23.9.1985.] or the estimated cost of construction of the building including the cost of land, if any, whichever is less. Advance granted for purchase of land and construction of building thereon shall be released in four instalments, the first instalment being for purchase of a plot of land and the rest therein as nearly as possible, equal instalments, for construction of building thereon. Advance granted only for construction of building shall be released in as nearly as possible three equal instalments. Release of any subsequent instalments shall be made on production of certificate from the Municipal Engineer to the satisfaction of the Chairman on the proper utilisation of the previous instalments of the advance.]
