244-N. Advances for the purchase of land and construction of a house thereon :(1) The sanctioning authority will first act as in clause (1) of the preceding paragraph. On allotment of funds by Government in the Finance Department, he may sanction an advance for only so much as in required to purchase the land. The sanctioning order must fix a definite date within one month of the date of sanction or March 31, whichever is earlier, during which period the advance must be drawn.
(2) Immediately on receipt of the sanctioning order, the drawing officer will have an agreement in Form no. 22-A executed by the borrowing servant and see that it is in order. He will send it to the sanctioning authority at the same time as the bill for the advance is prepared and presented for payment. Where the applicant is authorized to sign his bill, he must similarly execute and send the agreement to the sanctioning authority at the time of drawing the advance.
(3) Within one month of the date of drawal of the advance, the borrowing servant must purchase the plot of land with the advance and execute a mortgage bond in Form no. 22-B. On receipt of the mortgage bond, and not before, the sanctioning authority may sanction a further advance of the amount required for construction of the house as in paragraph 244-M.