(1) Withdrawals may also be permitted either for the purchase of a house-site or for repayment of any outstanding amount on account of a loan expressly taken for the purchase of a house-site before the receipt of the application for the withdrawal provided that the loan was taken not more than twelve months before the date of receipt of the said application.
(2) The amount of the withdrawal under sub-rule (1) shall not exceed Ninety percent of the amount standing to the credit of the Government servant in his account or the actual cost of the house-site, whichever is the less.
(3) If the amount withdrawn exceeds the actual cost of the house-site, the excess shall be refunded to the General Provident Fund forthwith in one lump sum together with interest at five percent per annum from the month of such withdrawal by the subscriber.
(4) The amount of the withdrawal may be allowed in one instalment in cases of outright purchase of a house-site or for repayment of loan earlier taken for the purpose and is not more than three instalments if payment for the house-site is to be made on an instalment basis. The sanction will be issued for the entire amount of the withdrawal the number of instalments in which it is actually to be drawn being specified therein:
Provided that in cases where a subscriber has to pay in instalments for purchase of a house-site through a House Building Co-operative Society or a similar agency, he shall be permitted to make a withdrawal as and when he is called upon to make a payment in any instalment. Every such payment shall be treated as a payment for a separate purpose for the purposes of sub-rule (1).
(5) The house-site shall be purchased within a period of one month of the date of withdrawal or the withdrawal of the first instalment, as the case may be. In fulfillment of the condition, the subscriber shall produce to the Head of the Department the receipts issued by the seller, the House Building Society, City Improvement Trust Board, etc., in token of the amount of the withdrawal instalment having been utilized for making payment towards purchase of the site.
(6) For the purpose of eventual construction of house on site purchased under sub-rule (1), the amount of the withdrawal for the purposes shall not exceed ninety percent of the balance the balance standing to the Government servant’s credit on the date of application for the purchase of a site or twelve months’ pay as on that date or the actual cost of construction of the house, whichever is the least.
(7) The other provisions enumerated under Rule 28(1)(a) shall apply mutates mutandis, for the purchase of site.