Over view: Important pre-sanction home-loan regulations
In light of the observations of the Delhi High Court on unauthorized construction, Banks/FIs before extending credit facilities shall follow the RBI guidelines stated below. . Key steps include: Essential DocumentationSome of the crucial documents involved in a property transaction include: Need for Legal AssistanceGiven the complexity and risks associated with real estate transactions, legal…
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Know all the associated costs of your home loan before you apply
There are 18 types of charges you may have to pay on home loans. Do keep in mind all of these charges may not apply to every borrower; so before applying for a home loan know what are the fees you may have to pay on home loans. Also, these charges will vary across lenders…
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Deposit of TDS to the Income Tax Department by Banks
Introduction to TDSTDS stands for Tax Deducted at Source. It is a mechanism introduced to collect tax at the very origin of income. Under this system, a person (referred to as the deductor) responsible for making specified payments to another person (the deductee) is required to deduct tax at the source and deposit the same…
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How banks process Home loan applications?
(The following article examines the documents required to the bank in respect of borrower’s profile and property to be purchased. It also provides the requirement of the bank with the list of Property related documents for building /Construction of the individual house on an open plot or purchase of flat/constructed property and common requirement for sanction…
Do You know how RERA offers 15 major Benefits to home buyers?
RERA stands acronym for Real Estate Regulatory Authority came into existence as per the Real Estate (Regulation and Development) Act 2016. Every state and Union Territory must have its own regulator under RERA in tandem with the Centre’s regulations. According to the Ministry of Housing and Urban Affairs, 34 States/UTs have notified rules under RERA…
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