Home Loan

How to borrow Home Loan on GPA Property in Delhi NCR ?

May 15, 2022May 28, 2023 Santa Prof

Home Loan on GPA Property is a Housing Loan in which some HFCs/NBFCs provide financial assistance with specific terms and conditions (i.e.- Subject to Sale Deed). What is GPA ? GPA stands for General Power of Attorney. It is a legal instrument that is used by a person (Grantor) to confer Authority on the person (Grantee) to act on his behalf. GPA can be registered anywhere in the country and it does not necessarily have to be registered with the authority which has the jurisdiction on the property. Why does a…

How to borrow Home Loan on Regularized Area Property in Delhi NCR ?

May 15, 2022May 28, 2023 Santa Prof

Banks generally do not make Home Loan on Regularized Area Property. However, there are some HFCs and NBFCs which provide Home Loan on Regularized Area Property with some special terms and conditions. What is Regularized Colony ? A regularized colony is one whose land use is changed by the government in a statutory manner. Since huge vote banks reside in unapproved or unauthorized colonies, unauthorized colonies are finally able to undergo regularization and take advantage of basic civic amenities such as water supply, sewerage etc. Once they become regularized they…

How to borrow Home Loan on Unauthorized Property in Delhi NCR ?

May 15, 2022May 28, 2023 Santa Prof

Banks usually do not entertain application for Home Loan on Unauthorized Property. But, there are certain HFCs / NBFCs that provide Home Loan on Unauthorized Property. What is unauthorized / unapproved Colony ? Generally unauthorized / unapproved colonies are not included in the master plan. Disadvantaged urban middle class and urban poor people live in these colonies, which are similar to urban slums. The purchase and sale of property in unauthorized / unapproved colonies is done by the General Power of Attorney (GPA), as these colonies are not considered part…