Loan or advance under these regulations may be granted to an employee;(i)For acquisition of a plot of land and for construction thereon;(ii)For construction of a new house;(iii)For enlarging the present living accommodation owned by any of the spouse; and(iv)For purchase of a constructed house or flat not more than 15 years old.Explanation - The above acquisition and construction of purchase may be either at the place of employment or at the place where the employee proposes to settle down after retirement.
