PLEASE BE CAREFUL AND CONDUCT DUE DILIGENT EXAMINATION AND THE SCRUTINY OF THE DOCUMENTS, APPROVALS AND COMPLIANCE OF THE PRE LAUNCH OFFERS FROM UNKNOWN, LITTLE KNOWN, DISREPUTE OR STRANGE GROUPS. DO NOT MAKE ANY PAYMENT OR NOR GIVE ANY MONEY, UNDER ANY CIRCUMSTANCE WITHOUT PROPER AND DILIGENT TITLE CLEARANCE AND APPROVALS FROM THE APPROPRIATE DEPARTMENTS … Continue reading CAUTION – APARTMENT BUYERS – PRE LAUNCH OFFERS FROM LITTLE KNOWN OR UNKNOWN GROUPS
HOME LOAN BORROWERS ARE UNAWARE OF THE FACTS THAT AT THE TIME OF AVAILING THE HOME LOAN EITHER FOR THE PURCHASE AND CONSTRUCTION OF THE HOUSE(COMPOSITE LOAN) OR FOR THE PURCHASE OF THE HOUSE OR APARTMENT, A DECLARATION CUM INDEMNITY BOND WILL BE SIGNED AS PER THE DIRECTIVES OF THE RESERVE BANK OF INDIA, WHICH … Continue reading DECLARATION CUM INDEMNITY BOND SIGNED BY THE HOME LOAN BORROWERS
Advance/ Security Deposit/Earnest money is paid or given at the time when the contract is entered into and, as a pledge for its due performance by the depositor to be forfeited in case of non-performance, by the depositor. It (Advance/earnest money deposit/security deposit)represents the guarantee that the contract (clauses in the sale agreement) would be … Continue reading FORFIETURE OF EARNEST MONEY DEPOSIT/SECURITY DEPOSIT/ADVANCE PAID FOR THE PURCHASE OF PROPERTY
A Private sector `YES Bank` on Tuesday has raised savings deposit rate for all savings accounts by 200 basis points to 6%. It is also reliably learnt that other banks will follow this suit to attract SB account deposits.
IT HAS COME TO OUR NOTICE THAT SOME BANKS ARE OFFERING HOME LOANS ON `B` KATHAS. PLEASE DO NOT SEEK THE DETAILS OF THE BANKS, WHICH ARE OFFERING IT,FROM US. THE SANCTION/OFFER OF LOAN WILL NOT CONFER ANY RIGHT, TITLE AND INTEREST AND THE BUYERS ARE ADVISED TO BE VERY CAUTIOUS BEFORE THE PURCHASE. … Continue reading B-KATHA – HOME LOANS
Government, in May 2010, advised Public Sector Banks, Indian Banks’ Association and National Housing Bank that no pre-payment charges may be levied by the lending institutions when the loan amount is paid by the borrowers out of their own funds; and if any pre-payment charges are to be imposed on housing loans, the same need … Continue reading Pre closure/foreclosure charges for home loans – Government Directions –
IF, YES, YOU CANNOT TRANSFER IT TO YOUR NAME AND NOR CAN YOU SELL IT NOW. YOU HAVE TO WAIT FOR AKRAMA-SAKRAMA OR ANY OTHER REGULARISATION SCHEME. B KATHA IS NOT USEFUL TO GET THE LOAN AND BUILDING PLAN WILL NOT BE SANCTIONED.
A. Housing Loan for building construction i. In cases where the applicant owns a plot/land and approaches the banks/FIs for a credit facility to construct a house, a copy of the sanctioned plan by competent authority in the name of a person applying for such credit facility must be obtained by the Banks/FIs before … Continue reading HOME LOAN CONDITIONS- RBI-01-07-2011
The Department of Posts (DoP) has launched the mobile-based money transfer service by Post Offices for quicker transfer of money from one city to another and this service will help those who were unable to avail banking services. The service will be operated by DoP with technological support from BSNL. HOW TO AVAIL THE SERVICE: … Continue reading MOBILE MONEY TRANSFER SERVICE IN INDIA BY DEPARTMENT OF POSTS
May 27, 2011 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks Madam / Dear Sir Reconciliation of failed transactions at ATMs Please refer to our letter DPSS No. 711 / 02.10.02 / 2008-2009, 1424 / … Continue reading FAILED ATM TRANSACTION-RBI ISSUES GUIDELINES TO ALL BANKS
HAVE YOU READ ALL THE CLAUSES AND CONDITIONS ON WHICH THE HOME LOAN HAD BEEN SANCTIONED TO YOU? HAVE YOU EXECUTED AN UNDERTAKING OR AN AFFIDAVIT TO THE BANK REGARDING THE COMPLIANCE? CHECK IT ONCE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! THE UNDERTAKING EXECUTED BY YOU TO THE BANK? WE ARE PUBLISHING ONE SUCH AFFIDAVIT WITH GENERAL CLAUSES EXECUTED ON OATH … Continue reading HOME LOANS-BANK SANCTIONS-DOCUMENTATION-UNDERTAKINGS-AFFIDAVIT- READ IT
The Central Registry for Properties Operationalised to avoid multiple lending on the same property The Central Registry of Securitisation, Asset Reconstruction and Security Interest of India, A Government Company, Incorporated to prevent fraud on lending money on properties The Central Registry has become operational with effect from today i.e.31st March,2011. The objective of setting-up the … Continue reading Central registry for properties to avoid fraud is operational