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State govt abolishes upper ceiling limit to buy, construct houses

State govt abolishes upper ceiling limit to buy, construct houses
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Kolkata: Abolishing the upper ceiling limit to buy or construct houses, the state government has issued a notification allowing its employees to invest more than Rs 30 lakh for the same.
It is learnt that the decision has been taken considering an increase in the cost of such properties.
State government employees from group D level to WBCS officers had a ceiling of Rs 30 lakh to buy such property. Issuing a notification, the state Finance department stated
that a decision has been taken "...to abolish the upper cost ceiling limit for construction/acquisition of house/flat funded from all sources by the employees, with immediate effect."
It may be mentioned that the issue of revision of the cost ceiling limit for construction or acquisition of houses or flats was under active consideration of the state government for the past some time.
However, the employees have to inform the government about such procurement as usual, as per the service code of conduct.
The employees need to give assets declaration to the government after a certain point of time and the notification abolishing the upper cost ceiling limit has nothing do with the norms of assets declaration, according to a state government official.
The official further stated that the cost of such property has gone up and it has come to the notice of the state Finance department.
So, the state government has taken the decision because in many cases it was found that it is not possible to buy such property by investing something in between Rs 30 lakh. Now, with the ceiling getting abolished, there will be no as such limit in the cost of a flat or house that an employee wants to buy or construct.
The decision has been welcomed by the state government employees.
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