Section 15(4) in The Regulations For Disbursement of Loans Under The Middle Income Group Housing Scheme, 1968
(4)Loan under this Scheme is admissible only for construction of new houses and for purchase of houses newly built by reliable building companies or other private building agencies and shall not therefore be advanced in respect of the houses the construction of which has been started or completed by a prospective borrower before the loan is duly sanctioned by the Parishad (except the construction of which is done in order to make up the investment of the borrower to at least twenty-five per cent. of the total loan).
