Bank of Baroda stops home loans to flat owners in Greater Noida West - The Economic Times

NEW DELHI: Bank of BarodaBSE 1.50 % has stopped releasing home loan instalments to flat owners in Greater Noida (West) in Uttar Pradesh, particularly Gaur City-1 project, in view of an ongoing litigation, the government informed Parliament today.

"Yes, Sir", Minister of State for Finance Namo Narain Meena said in a written reply in Rajya Sabha to a question whether Bank of Baroda has stopped releasing the next housing loan instalments to house owners in Greater Noida (West), particularly Gaur City-I in view of litigation against acquisition of land by companies.

"Bank of Baroda proposes to release the housing loan instalments after the final judgement of Supreme Court," the Minister said .

In view of the ongoing litigation, Meena said, "Bank has adopted a cautious approach for resuming the sanction of fresh home loans and also in releasing further disbursement in home loans already sanctioned in Gaur City-I and other projects in Noida Extension and Greater Noida, till legal position is crystallised."

The Minister further said that Union Bank of IndiaBSE -0.04 % and Corporation BankBSE 0.90 % have "resumed releases" of home loan instalments.

He further said that the order of the Allahabad High Court granting approval to the Master Plan 2021 has been challenged in the Supreme Court. "The...SLP (Special Leave Petition) is at service stage," he added.

Meanwhile, Uttar Pradesh too had filed a petition in the Supreme Court in connection with the issue, the Minister said, adding "no interim stay order has been granted by the Supreme Court."

Under the Master Plan 2021, which was approved by the NCR Planning Board, construction and development work could be undertaken in the Greater Noida.
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  • Read at Just prop forum that other banks have no issues
    Bank of Baroda stops home loans to flat owners in Greater Noida West
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  • Why BOB is taking so high ground? Huh !!!
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  • BOB also stopped loan for Gaur city builder so builder has to seek other bank??? means more delay??
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  • Gaur walo aur karo launch pe launch.. :(
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  • Is BOB came to Know anything fishy about SC verdit of NE?
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  • Originally Posted by Amit Dang
    Is BOB came to Know anything fishy about SC verdit of NE?

    I am more worried about other Banks if they start following the BOB footsteps...
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  • This news is mistimed........

    .............. after a long period when banks had stoped sanctioning / disbursing for Noida Extension .......

    .......... only last few days the news of receipt of disbursal cheques started pouring in .........

    .........and now this another jhatkaa ........

    PS. - I wonder those who had reported receiving disbursement cheques during last few days ..........

    ......... on what terms & conditions were those disbursed......

    ........ whether banks were disbursing only on the condition of another (non noida extension) property as additional collateral security ..........

    OR

    On the basis of noida extension property only without insisting on additional collateral. (as it happens in normal Housing Loans).

    noone who have claimed on IREF of receiving disbursal cheques have shed any light on it. :bab (2):
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  • Hi
    Even my loan for mywoods got disbursed 8th of Nov w/out any security. No problem at all.
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  • Originally Posted by dhanam
    Hi
    Even my loan for mywoods got disbursed 8th of Nov w/out any security. No problem at all.



    what that from BOB ?
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  • Originally Posted by Johny123
    what that from BOB ?


    Oh God! One more blunder.

    Is it planned ?????

    First start the process and attract customer when they are in, just stop to pay them.
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