Announcement

Collapse
No announcement yet.

Does the Backing Of a Nationalised Bank Hold Weight For a Project?

Collapse
X
Collapse

Does the Backing Of a Nationalised Bank Hold Weight For a Project?

Last updated: January 24 2013
5 | Posts
837 | Views
  • Time
  • Show
Clear All
new posts

  • Does the Backing Of a Nationalised Bank Hold Weight For a Project?

    Hi People,

    I just visited a project and saw it the builder said that the project loan is approved by nationalised bank such as ICICI SBI,HDFC,MAHARASHTRA BANK etc .. so i went on to confirm this wiht them.

    And i found out that its indeed true the bank is approving the loan for that project, Now does that mean that the project is clear has no issue the papers are clear etc etc ... because nationalised banks gives loan to the project only when the paper of the builder and the project is clear

    please advice

    regards,
    roxen
  • #2

    #2

    Re : Does the Backing Of a Nationalised Bank Hold Weight For a Project?

    Need Reply

    Guy please dont just view my thread please reply and suggest me if my assumptions are true or not ????

    Comment

    • #3

      #3

      Re : Does the Backing Of a Nationalised Bank Hold Weight For a Project?

      hi

      as per my undersatnding check other approvals like.

      cc (commencement certificate) this require for intiating work.

      and if banks approves it must be ok.

      u have to check other ligitation also is there any problem related to plot.

      best u can do ask builder to provide details of the plot and take that paper to proeprty lawyer.

      Comment

      • #4

        #4

        Re : Does the Backing Of a Nationalised Bank Hold Weight For a Project?

        HI

        Helo Surya,

        you are right but the thing is a nationalised bank in india only approves loan for a project when the paper work is clear right .. ??? i want to know that if that the case then every paper of the place is ok right ????

        Regards,
        Roxen

        Comment

        • #5

          #5

          Re : Does the Backing Of a Nationalised Bank Hold Weight For a Project?

          hi

          i dont know this--

          might be true.

          what i heard in lodha dombiviali project bank is giving finance without checking approvals to construct, and later on some of the banks reject giving loan.

          u can check in lodha casa bella thread.

          if builder lobby is strong anything can happen.

          Comment

          • #6

            #6

            Re : Does the Backing Of a Nationalised Bank Hold Weight For a Project?

            Originally posted by roxen29 View Post
            Hi People,

            I just visited a project and saw it the builder said that the project loan is approved by nationalised bank such as ICICI SBI,HDFC,MAHARASHTRA BANK etc .. so i went on to confirm this wiht them.

            And i found out that its indeed true the bank is approving the loan for that project, Now does that mean that the project is clear has no issue the papers are clear etc etc ... because nationalised banks gives loan to the project only when the paper of the builder and the project is clear

            please advice

            regards,
            roxen
            We would like to think so. But there is a difference between bank is approving and bank has approved. I have been stuck for more than a year when the bank officials told me that they are in process of approval and only awaiting a few documents. luckily got my money back from the builder after a year with no interest. Be very very careful. Spend a few thousand and show all the documents to a reliable property lawyer and only then complete the transaction.

            Experience talking!

            Comment

            Have any questions or thoughts about this?
            Working...
            X