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Loan Disbursement in 7x Sectors after Farmers Agitation

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Loan Disbursement in 7x Sectors after Farmers Agitation

Last updated: May 26 2011
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  • Loan Disbursement in 7x Sectors after Farmers Agitation

    I just came to know that HDFC stopped disbursement for Max Royal Sec-76 project and will take decision 1-2 days. Did anyone faced this situation from other banks for falts booked in 7x sectors?
  • #2

    #2

    Re : Loan Disbursement in 7x Sectors after Farmers Agitation

    I was just thinking, can bank stop disbursement of loan if it has already disbursed one installment(which means that bank has verified all paperwork of builder and buyer). if bank stops disbursement of loan after verifying everything, won't it be right of loan taker to take bank to consumer court, as he will be facing possible penalty from builder and other metal anguish because of the bank's decision. also bank has also charged good amount of money as processing fee. will they return that amount as they will not be disbursing loan anymore.

    will someone with legal knowledge care to comment?

    Comment

    • #3

      #3

      Re : Loan Disbursement in 7x Sectors after Farmers Agitation

      Alok Bhai,I think we must check the documents that we signed while asking for a home loan.
      There are huge number of papers which we sign & usually don't read while availaing this facility.I think there should be a hidden clause somewhere that if the property becomes disputed,the bank may stop further disbursement or may even ask for complete settlement.The banks deal with such cases every now & then.
      Someone with loan papers can verify this.

      Comment

      • #4

        #4

        Re : Loan Disbursement in 7x Sectors after Farmers Agitation

        I don't think..anyone can drag bank into the consumer court for this, even if one does, chances of banking winning are more. I am not sure but if one reads the clauses mentioned while sanctioning the loan, they must have mentioned something related to this.
        They are not fools, they are doing business & are very good with their legal department.

        Don't waste your time in running after HDFC. Wait for their decision, they are reviewing the documents again. Instead ask your builder what to do, as his project is not supported by HDFC anymore.

        You may have to go for another bank loan, if HDFC retains their decision

        Comment

        • #5

          #5

          Re : Loan Disbursement in 7x Sectors after Farmers Agitation

          Arora_B, u r quite right .

          The fine print says it all .
          Please read IREF rules | FAQ's

          Comment

          • #6

            #6

            Re : Loan Disbursement in 7x Sectors after Farmers Agitation

            This is a "ACID TEST" for the current ongoing situation -

            -- If Bank stoppped the payments - doomsday has arrived.
            -- If Bank is OK with the payments - things will be fine in no time.

            Banks - I mean only - LIC + govt banks + HDFC (biggest home loan lender in the country).

            Regards
            Sbajaj

            Comment

            • #7

              #7

              Re : Loan Disbursement in 7x Sectors after Farmers Agitation

              Originally posted by alokgarg View Post
              I was just thinking, can bank stop disbursement of loan if it has already disbursed one installment(which means that bank has verified all paperwork of builder and buyer). if bank stops disbursement of loan after verifying everything, won't it be right of loan taker to take bank to consumer court, as he will be facing possible penalty from builder and other metal anguish because of the bank's decision. also bank has also charged good amount of money as processing fee. will they return that amount as they will not be disbursing loan anymore.

              will someone with legal knowledge care to comment?
              not sure of the legal aspects but sure the cusomer will be extra concerned next time going for the same bank

              Comment

              • #8

                #8

                Re : Loan Disbursement in 7x Sectors after Farmers Agitation

                Banks including HDFC temporarily reviewed their exposure to Noida but today they have gone ahead with confirmation that disbursals shall go on for Noida Projects. So not to worry.

                Comment

                • #9

                  #9

                  Re : Loan Disbursement in 7x Sectors after Farmers Agitation

                  Originally posted by rajaji View Post
                  Banks including HDFC temporarily reviewed their exposure to Noida but today they have gone ahead with confirmation that disbursals shall go on for Noida Projects. So not to worry.

                  Good News for Noida Projects.

                  What about NE?

                  Comment

                  • #10

                    #10

                    Re : Loan Disbursement in 7x Sectors after Farmers Agitation

                    can someone confirm please, if HDFC has started disbursing loans or not for max royal 76.

                    Recently only i have applied for the loan

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