Section 4 in The Regulations For Disbursement of Loans Under The Middle Income Group Housing Scheme, 1968
4.
Loan will also be admissible to Local Bodies (Nagar Mahapalika, Nagar Palikas and Improvement Trusts), for the construction of houses which will be sold (either outright or on hire-purchase basis) or let out by them to their own wholetime employees and also to other persons eligible under sub- para (a) of Rule 3 above on no-profit no-loss basis.Subject to the condition that not more than 33 1/3 per cent of the houses will be allotted to employees of Central and State Government including employees of semi-Government institutions and local bodies.
