Section 18A(2) in Gauhati University Loans and Advances Rules, 1959
(2)The employee should sign an agreement in the prescribed form before taking an advance for the purchase of land, and the amount should not exceed what Ls required for the purpose subject to a maximum of 40% of the advance admissible to him. A mortgage deed in the prescribed form should be executed before any further advance is drawn for the purpose of the construction of the house within one month from the date of signing the agreement whichever is earlier. The mortgage deed must be registered within one month of its execution. The fact of execution and the registration of the mortgage deed should be intimated to the Treasurer as soon as possible.(i)Applications for an advance for house-building should in all cases be accompanied by a report from the Head of the Administrative Department concerned who should state besides his opinion as to the necessity of the advance, whether any previous advance has been made to the applicant and if so, when and whether such advance has been fully repaid or not.(ii)After the application for house building loan is found on preliminary examination to be in order and the funds are available for the purpose, the case should be referred to a legal adviser of the University and his professional fees at the rate prescribed by the University should be realised from the loanee.
