ENCROACHMENT – RAJA KALUVE – LAKES – LENDERS ESCAPED

The owners who have bought the apartments and sites in and around raja kaluve and the lakes have borrowed money from BANKS.  In many cases, the banks have evaluated the projects and in some cases had issued pre approval to the projects which are under investigation and demolition. Majority of the buyers are borrowers and … Continue reading ENCROACHMENT – RAJA KALUVE – LAKES – LENDERS ESCAPED

HOME LOAN – HOUSING LOAN – RESERVE BANK OF INDIA`S DIRECTIVES TO BANKS AND FINANCIAL INSTITUTIONS ISSUED ON 01-07-2015

THE RESERVE BANK OF INDIA HAS CLEARLY MANDATED THAT LOAN MUST NOT BE SANCTIONED TO 1). ILLEGAL AND UNAUTHORISED LAYOUTS OR SITES. 2). IRREGULAR AND UNAUTHORISED CONSTRUCTIONS OR BUILDINGS. 3). BUILDINGS WHICH ARE NOT CONSTRUCTED AS PER THE SANCTIONED BUILDING PLAN. RESERVE BANK OF INDIA DIRECTIVES TO BANKS AND FINANCIAL INSTITUTIONS IN RESPECT OF HOME … Continue reading HOME LOAN – HOUSING LOAN – RESERVE BANK OF INDIA`S DIRECTIVES TO BANKS AND FINANCIAL INSTITUTIONS ISSUED ON 01-07-2015

REALTY MARKET IN BANGALORE

THE SALE OF APARTMENTS HAS SLOWED DOWN DUE TO ABNORMAL PRICES AND DWINDLING OF THE DEMAND.  THE RENT SCENARIO IS MUCH WORSE.  THE RETURN ON INVESTMENT IN RESIDENTIAL BUILDING IN THE FORM OF RENT AFTER THE MAINTENANCE AND TAXES IS 2% TO 8% AND IN COMMERCIAL BUILDINGS, IT IS 2% TO 16% AND IN INDUSTRIAL … Continue reading REALTY MARKET IN BANGALORE

SARAKKI LAKE LAND RECOVERY – SOME FACTS -HOME LOANS – HOME GONE – LOAN REMAINS

THE SARAKKI, JARAGANAHALLY AND PUTTENAHALLY WERE UNDER GRAMAPANCHAYAT EARLIER AND THEN TRANSFERRED TO CMC AND LATER TO BBMP. DURING THE GRAMAPANCHAYAT AND CMC TENURE, LAND MAFIA BIFURCATED AGRICULTURAL LANDS SURROUNDING THE LAKE AND REGISTERED THE PROPERTIES WITH KANESHMARI NUMBER AND DIFFERENT SURVEY NUMBER, OTHER THAN THE REAL AND TRUE (LAKE SURVEY NUMBER) TO THE BUYERS. … Continue reading SARAKKI LAKE LAND RECOVERY – SOME FACTS -HOME LOANS – HOME GONE – LOAN REMAINS

FREE-FREE- BUYING AN APARTMENT OR A SITE – OFFERS FROM ?????????????????????????

BUYING AN APARTMENT OR A SITE FROM A BUILDER / DEVELOPER AND THERE ARE MANY FREE GIFTS!!!! CLUB HOUSE-FREE MEMBERSHIP-FREE BANK LOAN ARRANGEMENT-FREE REGISTRATION-FREE DEAR BUYERS, USE COMMON SENSE AND THINK, HOW CAN THESE PROFIT MAKERS OR THE COMPANIES OFFER ANYTHING FREE FOR A STRANGE BUYER? IS IT POSSIBLE TO CREATE SOME CONCRETE THING OR … Continue reading FREE-FREE- BUYING AN APARTMENT OR A SITE – OFFERS FROM ?????????????????????????

BBMP `A` KATHA – CHECK AND VERIFY THE BACKGROUND AND FIND OUT , HOW THE KATHA IS OBTAINED ? – BEFORE THE PURCHASE

IT IS STRONGLY RECOMMENDED TO THOROUGHLY VERIFY THE BBMP `A` KATHA ISSUED TO REVENUE POCKETS, AREAS, BIFURCATED/LAYOUTS FORMED IN DC CONVERTED SITES AND THE BASIS ON WHICH THESE KATHAS ISSUED BY THE BBMP, BEFORE PURCHASING A SITE/PLOT OR AN APARTMENT. IN THE COURSE OF OUR VERIFICATION, WE HAVE STUMBLED UPON MANY PARADOXES, SOME ARE SO … Continue reading BBMP `A` KATHA – CHECK AND VERIFY THE BACKGROUND AND FIND OUT , HOW THE KATHA IS OBTAINED ? – BEFORE THE PURCHASE

HOME LOAN AND LOAN COVERAGE INSURANCE BY SBI LIFE – IRDA DIRECTS SBI LIFE TO REFUND PREMIUM COLLECTED ON MISREPRESENTATION – WRONG – FRAUDLANT SALE

INSURANCE REGULATORY DEVELOPMENT AUTHORITY (IRDA) DIRECTS THE STATE BANK OF INDIA`S INSURANCE ARM (SBI LIFE) TO REFUND RS 275 CRORES, THE PREMIUM COLLECTED FROM POLICY HOLDERS FOR MISREPRESENTING THE FACTS ABOUT THE PLAN.THE SAID PLAN WAS POSITIONED AS TWO YEAR PREMIUM PAYING TERM FOR COVERING HOME LOANS BORROWED BY THE HOME LOAN CLIENTS OF STATE … Continue reading HOME LOAN AND LOAN COVERAGE INSURANCE BY SBI LIFE – IRDA DIRECTS SBI LIFE TO REFUND PREMIUM COLLECTED ON MISREPRESENTATION – WRONG – FRAUDLANT SALE

RBI REVISES NORMS FOR HOME BUYERS!!!

RBI revises the norm for (Pure Residential) Home buyers can now get 90% loan against a property Up to Rs. 20 lakhs, 80%, Above Rs. 20 lakhs and up to Rs. 75 lakhs and 75% above 75 Lakhs respectively. The reason for the change is that the residential housing projects exhibited lesser risk and volatility … Continue reading RBI REVISES NORMS FOR HOME BUYERS!!!

DEFAULT OF EMI IN HOME LOANS IS INCREASING

A LATEST REPORT HAS SHOWN SIGNIFICANT INCREASE IN THE DEFAULT/NON REPAYMENT OF EMI ON HOME LOANS.  THOUGH THE PERCENTAGE OF DEFAULTERS ARE MORE IN THE UNSECURED CREDITORS SECTOR, ESPECIALLY IN CREDIT CARD AND PERSONAL LOAN SECTOR, BUT THE HOME LOAN SECTOR IS ALSO WITNESSING THIS CHANGE.    

HOUSING LOAN – MASTER CIRCULAR – RBI – 02-07-2012

Date: Jul 02, 2012 Master Circular – Housing Finance RBI/ 2012-13/73 DBOD. No.DIR.BC.07/08.12.001/2012-13 July 2, 2012 Ashadha 11, 1934, (Saka) All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Master Circular – Housing Finance Please refer to the Master Circular DBOD No. Dir. BC. 03 /08.12.001/2011-12 dated July 1, 2011 consolidating the instructions / guidelines issued … Continue reading HOUSING LOAN – MASTER CIRCULAR – RBI – 02-07-2012

UNIFORM INTEREST RATE TO ALL HOME LOAN BORROWERS – NHB AND RBI

NATIONAL HOUSING BANK AND THE RBI- pass on the benefit of lower interest rates uniformly to all customers RBI has directed the top banks to charge lower home loan rates to old customers instead of just using the lower interest rates to pull new borrowers. But lenders continued to resist the proposal, citing cost mismatch. The contentious issue cropped … Continue reading UNIFORM INTEREST RATE TO ALL HOME LOAN BORROWERS – NHB AND RBI

INTEREST RATE HIKE

AMONG OTHER FISCAL MEASURES TO CONTAIN THE EVER INCREASING AND UNCONTROLLED INFLATION, THE GOVERNMENT AND THE RBI PROPOSE TO INCREASE THE INTEREST RATES, HOPING THAT THIS MOVE WILL HALT THE GALLOPING TREND, SO FAR, ALL THE ECONOMICAL MEASURES FAILED TO CONTAIN THE PACE OF INFLATION. HOME LOAN INTEREST MIGHT REACH UP TO 12% BY DECEMBER, … Continue reading INTEREST RATE HIKE

HOME LOAN CONDITIONS- RBI-01-07-2011

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

HOME LOANS AND RBI DIRECTIONS

Banks Can Give up to 90 Percent on Home Loans not exceeding Rs. Rs 20 Lakh The RBI has empowered the Banks to give up to 90 per cent of the value of the property in case of small value home loans up to Rs 20 lakh. But in case of loans above Rs 20 … Continue reading HOME LOANS AND RBI DIRECTIONS