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
BUILDER`S ANTICS & TACTICS AT BANGALORE
AS IT IS SAID, THE VIOLATIONS AND IRREGULARITIES ARE A WAY OF LIFE FOR CHEATS AND FRAUDS, EVEN THE GENTLEMEN `BUILDERS AND DEVELOPERS` ARE TAKING SHELTER UNDER THIS UMBRELLA. WHEN ILLEGALITIES/VIOLATIONS AND NON COMPLIANCE TO THE PREVAILING LAWS ARE BROUGHT TO NOTICE OR INTIMATED WITH SUPPORTING DOCUMENTARY EVIDENCE, THE OWNERS/SELLERS/DEVELOPERS, CORNERED WITH THE TRUTH AND … Continue reading BUILDER`S ANTICS & TACTICS AT BANGALORE
B FORM PROPERTIES
THERE IS HIGH RISK INVOLVED IN BUYING PROPERTIES WITHOUT BBMP KATHA. PROPERTIES WITH B FORMS MAY HAVE DEFECTS, DISCREPANCIES AND IS IN CONTRAVENTION TO THE PREVAILING MUNICIPAL AND TOWN PLANNING LAWS. IT IS ISSUED TO PROPERTIES WITH VIOLATION, NON COMPLIANCE AND IS IN CONTRAVENTION TO THE PRESENT STATUTES. PURCHASERS OF THE PROPERTIES MUST EXERCISE UTMOST CAUTION. … Continue reading B FORM PROPERTIES
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
PRE CLOSURE OR FORECLOSURE OF HOME LOANS AND RBI DIRECTIONS TO THE BANKS- UTILISE THIS CIRCULAR
RBI/2011-12/589 DBOD. No. Dir. BC.107/13.03.00/2011-12June 5, 2012 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/Madam Home Loans-Levy of fore-closure charges/pre-payment penalty Please refer to our circular DBOD. No. Dir. BC. 56/13.03.00/2006-2007 dated February 2, 2007 on reasonableness of bank charges. 2. In this context, attention is invited to paragraphs 81 to 83 of the Monetary … Continue reading PRE CLOSURE OR FORECLOSURE OF HOME LOANS AND RBI DIRECTIONS TO THE BANKS- UTILISE THIS CIRCULAR
HOME LOANS AND RBI DIRECTIVES – TAX EVASION BY THE BUYERS IS UNDER SCRUTINY
RBI HAS DIRECTED ALL THE BANKS NOT TO OVER VALUE THE PROPERTIES WHICH INCLUDES STAMP DUTY, REGISTRATION FEE, SERVICE TAX, VAT AND OTHER ADDITIONS, WHILE PROCESSING THE HOME LOANS, AS THE REGULATOR RECEIVED COMPLAINTS OF SUCH DISCREPANCIES BY SOME OF THE BANKS. THE INCOME TAX DEPARTMENT IS EXAMINING THE HOME LOANS APPLICATIONS AND SANCTIONS AS … Continue reading HOME LOANS AND RBI DIRECTIVES – TAX EVASION BY THE BUYERS IS UNDER SCRUTINY
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 IS ON THE CARDS AGAIN
The Reserve Bank of India (RBI) has raised the policy rate (the repo rate) eleven times by a cumulative 325 basis points (bps) since October 2009 and proposes to increase it again to contain the heated inflation rate. The increase in the Base Rates/Benchmark Prime Lending Rates (BPLRs) of banks, consequent upon increase in policy rate by the RBI, … Continue reading INTEREST RATE HIKE IS ON THE CARDS AGAIN
HOME LOANS AND GOVT PROPERTY -LAND GRABBING AND ENCROACHMENTS – BORROWERS ARE IN DOCK !
IT IS SAID THAT THE PROPERTIES IN THE VICINITY OF TANK BEDS,GOMALA LANDS, KAALU DHARI, BANDI DHARI,GUNDU THOPU, CA SITES IN BANGALORE EAST, NORTH, NORTH ADDITIONAL, ANEKAL AND SOUTH TALUKS, WHICH BELONGS TO GOVERNMENT SOLD ON FAKE/FABRICATED/GRANT CERTIFICATES/CERTIFIED COPIES OF BOGUS DOCUMENTS TO BUILDERS AND LAND MAFIA HAVE CONSTRUCTED MANY APARTMENTS AND THE BANKS HAVE … Continue reading HOME LOANS AND GOVT PROPERTY -LAND GRABBING AND ENCROACHMENTS – BORROWERS ARE IN DOCK !
Pre closure/foreclosure charges for home loans – Government Directions –
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 –
DID YOU BUY `B` KATHA PROPERTY ?
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.
SPECIAL TASK FORCE REPORT ON ENCROACHMENT OF GOVERNMENT LANDS
THE SPECIAL TASK FORCE HEADED BY THE RETIRED ADDITIONAL SECRETARY, GOVERNMENT OF KARNATAKA, MR.V.BALASUBRAMANIAN HAS SUBMITTED A 300 PAGE REPORT TO THE GOVERNMENT OF ITS FINDINGS AND RECOMMENDATIONS. SOME OF THE IMPORTANT ISSUES SAID TO HAVE INCLUDED IN THIS REPORT IS ON A GATED COMMUNITY, AT RAMAGONDANAHALLY, WHITEFILED MAIN ROAD AND ANOTHER HIGHLY VALUABLE PROPERTY … Continue reading SPECIAL TASK FORCE REPORT ON ENCROACHMENT OF GOVERNMENT LANDS
HOME LOANS AND RBI GUIDELINES ON 01-07-2011-READ COLUMN 13 FOR HOME LOAN CONDITIONS AND DIRECTIONS TO ALL THE BANKS BY THE RBI———————————— READ THE DELHI HIGH COURT ORDER ON ILLEGAL BUILDING AND ITS EFFECTS ON HOME LOANS AND RBI DIRECTIONS———-BEFORE BUYING ILLEGAL BUILDINGS
READ COLUMN 13 FOR HOME LOAN CONDITIONS AND DIRECTIONS TO ALL THE BANKS BY THE RBI------------------------------------ READ THE DELHI HIGH COURT ORDER ON ILLEGAL BUILDING AND ITS EFFECTS ON HOME LOANS AND RBI DIRECTIONS----------BEFORE BUYING ILLEGAL BUILDINGS RESERVE BANK OF INDIA Master Circular on Housing Finance Date: Jul 01, 2011 RBI/ 2011-12/52 DBOD. No.DIR.BC. 03/08.12.001/2011-12July … Continue reading HOME LOANS AND RBI GUIDELINES ON 01-07-2011-READ COLUMN 13 FOR HOME LOAN CONDITIONS AND DIRECTIONS TO ALL THE BANKS BY THE RBI———————————— READ THE DELHI HIGH COURT ORDER ON ILLEGAL BUILDING AND ITS EFFECTS ON HOME LOANS AND RBI DIRECTIONS———-BEFORE BUYING ILLEGAL BUILDINGS
MORTGAGE-ITS MEANING AND DIFFERENT KINDS OF MORTGAGES
Mortgage refers to the security of something given as a guarantee of repayment. Mortgage: Mortgage refers to “the transfer of interest in specific immovable property for the purpose of securing the payment of money advanced by way of loan". It must be borne in mind that only immovable property can be mortgaged. Lands, buildings, installed … Continue reading MORTGAGE-ITS MEANING AND DIFFERENT KINDS OF MORTGAGES
Central registry for properties to avoid fraud is operational
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
VEHICLE LOANS-DEFALUT-ATTACHMENT BY BANKS- KNOW YOUR RIGHTS AND DIRECTIONS OF CONSUMER FORUM AND THE SUPREME COURT OF INDIA
FORCEABLE REPOSSESSION OF VEHICLES BY THE LENDERS IS NOT PERMISSBLE- KNOW YOUR RIGHTS. READ THE LOAN APPLICATION AND LOAN DOCUMENTS BEFORE SIGNING AND OBTAIN A COPY OF THE LOAN DOCUMENTS. Case Study: Sinha had taken a loan from IndusInd Bank for purchase of a Tata truck. The loan was required to be repaid in 48 … Continue reading VEHICLE LOANS-DEFALUT-ATTACHMENT BY BANKS- KNOW YOUR RIGHTS AND DIRECTIONS OF CONSUMER FORUM AND THE SUPREME COURT OF INDIA
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
Delhi High Court Order and the RBI Directions.
RBI/ 2009-10/75 DBOD. No.DIR. (HSG). BC.08 /08.12.01/2009-10 July 1, 2009 09 Aashada , 1931 (Saka) All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Master Circular on HOUSING FINANCE. Clause 12 clearly directs and specifies that OCCUPANCY CERTIFICATE must be obtained from the concerned authorities. Otherwise, the home loans sanctioned MUST BE RECALLED WITH CHARGES. 12. … Continue reading Delhi High Court Order and the RBI Directions.
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