Section 15 in The Regulations For Disbursement of Loans Under The Middle Income Group Housing Scheme, 1968
15. Restrictions of loans.
(1)Separate loans shall not be admissible on a joint basis. Maximum loan for one single house shall not be in any case, exceed the limit laid down in Rule 7.(2)No loan shall be admissible, for additions alterations or extension of an existing house.(3)No loan shall be given for construction of a shop-cum - residential accommodation.(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).
