Housing Loan Products from Banks carrying risks :: RBI advises caution
RBI/2013-14/320 RPCD.CO.RCB.BC.No.43/07.51.013/2013-14 October 8, 2013 The Chairman All State and Central Co-operative Banks (StCBs and CCBs) Dear Sir, Housing Sector: Innovative Housing Loan Products Upfront disbursal of housing loans It has been observed that some banks have introduced certain innovative Housing Loan Schemes in association with developers/builders, e.g. upfront disbursal of sanctioned individual housing loans… Read More
Tags: Bank, Construction, Individual, Loan, Lump sum, Mortgage loan, Public housing, Upfront
RBI warns UCBs against High Risk Innovative Housing Loan Products
RBI/2013-14/268 UBD CO BPD (PCB) Cir. No.17/09.22.010/2013-14 September 17, 2013 The Chief Executive Officer All Primary (Urban) Co-operative Banks Dear Sir / Madam, Housing Sector: Innovative Housing Loan Products - Upfront Disbursal of Housing Loans Primary (Urban) Co-operative Bank It has been observed that some banks have introduced certain innovative Housing Loan Schemes in association with… Read More
Tags: Bank, CICs, Construction, EMI, Loan, Mortgage loan, Public housing, Schemes
RBI Circular w.r.t. Housing Sector: Innovative Housing Loan Products
RBI/2013-14/247 RPCD.RRB. BC. No. 29 /03.05.33/2013-14 September 11, 2013 All RRBs Dear Sir, Housing Sector: Innovative Housing Loan Products Upfront disbursal of housing loans It has been observed that some banks have introduced certain innovative Housing Loan Schemes in association with developers/builders, e.g. upfront disbursal of sanctioned individual housing loans to the builders without linking the… Read More
Tags: Construction, Individual, Loan, Lump sum, Mortgage loan, Public housing, Risk, Upfront
RBI observation on Innovative Housing Loan Products – Advises banks on risks
RBI/2013-14/217 DBOD.BP.BC.No. 51/08.12.015/2013-14 September 3, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Housing Sector: Innovative Housing Loan Products Upfront disbursal of housing loans It has been observed that some banks have introduced certain innovative Housing Loan Schemes in association with developers/builders, e.g. upfront disbursal of sanctioned individual housing loans to the builders without… Read More
Tags: Bank, Construction, Loan, Lump sum, Mortgage loan, Public housing, Rajesh Verma, Upfront
External Borrowing Norms for Housing Projects
The policy regarding ECB for the low cost affordable housing projects has been recently reviewed in consultation with RBI and has been rationalized as under: ¢ Developers/builders should have a minimum of three (3) years™ experience in undertaking residential projects as against five (5) years prescribed earlier and should have good track record in terms… Read More
Tags: Affordable housing, External Commercial Borrowing, finance, Lok Sabha, National Housing Bank, NHB, Public housing, Real Estate
Payment of Arrears of family pension
In case of death of a pensioner, all money payable to the pensioner on account of pension are payable to the nominee of the deceased pensioner. In the absence of any valid nomination made by the pensioner, the arrears of his/her pension are paid to the legal heir. However, dependants of some pensioners expressed difficulties… Read More
Tags: Arrears, Goodluck Jonathan, Government, Housing Benefit, Payment, Pensioner, Public housing, Universal Credit
CLR Snippets | Real Estate Watchdog
In order to ensure that the real estate promoters undertaking housing projects, utilize the funds collected for a particular project, for the development of the same project and not invest it elsewhere (leading to delay in execution and probable cost escalation), the provision for keeping a specified percentage of money collected from the allottes, to… Read More
Tags: Ajay Maken, Bill, HUPA, Lok Sabha, New Delhi, Public housing, Real Estate, Regulation