Home Loan for NRIs
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Santanu Haldar
May 14, 2011, 7:01:36 AM5/14/11
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Dear Member,
We would like to dedicate this thread for any discussion, query, reference information related to Home loan for NRI only . Please DO NOT POST posts any other info in this thread which does not have any relation to Home loan for NRIs.
Now onwards we should categorize information and open separate thread with meaningful subject name to communicate content inside. It will be of immense help to visitors or members to go through right thread for desired information and in the process a good archive will be developed by us.
Let us make our group THE REFERENCE SITE to all stakeholders of DDA 2010 scheme.
Message has been deleted
Santanu Haldar
May 14, 2011, 8:14:08 AM5/14/11
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NRI Home loan related discussion copied from other thread:
1. Original Message from Ram on 11th May
|
Other recipients: Does someone know if the loan terms and internest for NRI loans are |
2. Response from Sanvic on 12th May
No, the terms and conditions for NRI's are different. In fact the
maximum tenure for home loan to NRI's is 7 yrs.
maximum tenure for home loan to NRI's is 7 yrs.
|
Other recipients: | |
|
3. Response from Mrinal Sharma on 13th May |
Best ReplyMay 13 (19 hours ago) |
|
That is factually incorrect - although there is a maturity limitation | |
Santanu Haldar
May 14, 2011, 8:17:20 AM5/14/11
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Original Post by Naveen on 13th May copied from other thread
--------------------------------------------------------------------------------------------
Santanu, Harsh, others
You guys are rendering great service. Thanks very much.
I am an NRI and require about Rs 1 crore for VK 3BR flat. The problem
is that it is my sister who was lucky in the draw. She will gift deed
the flat to me after conveyance from DDA. Will any bank finance such a
transaction?
Thanks
Naveen
BTW, what is a Twin Account"?
You guys are rendering great service. Thanks very much.
I am an NRI and require about Rs 1 crore for VK 3BR flat. The problem
is that it is my sister who was lucky in the draw. She will gift deed
the flat to me after conveyance from DDA. Will any bank finance such a
transaction?
Thanks
Naveen
BTW, what is a Twin Account"?
Santanu Haldar
May 14, 2011, 8:20:58 AM5/14/11
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Original post by Ranjan copied from other thread
------------------------------------------------------------------------
I am an NRI and intend to apply for Home Loan as a co-applicant with
my father. Have already spoken to few banks like ICICI and SBI and
they are willing to give home loans provided we complete the list of
documentation (which looks long) for them. Starting a thread here so
that we can share information regarding the special processing that
might be required in case of ours.
Also please share any other relevant information we might have to keep
in mind?
my father. Have already spoken to few banks like ICICI and SBI and
they are willing to give home loans provided we complete the list of
documentation (which looks long) for them. Starting a thread here so
that we can share information regarding the special processing that
might be required in case of ours.
Also please share any other relevant information we might have to keep
in mind?
Ranjan
Naveen
May 15, 2011, 2:46:15 PM5/15/11
to DDA 2010
Ranjan,
I am exactly in the same situation as you. I am an NRI and need to
apply along with my sister, who has been successful in the draw. Do
you know if SBI or ICICI bank will accept this arrangement? My email
id is navsinghal @ hotmail.com
thanks
Naveen
I am exactly in the same situation as you. I am an NRI and need to
apply along with my sister, who has been successful in the draw. Do
you know if SBI or ICICI bank will accept this arrangement? My email
id is navsinghal @ hotmail.com
thanks
Naveen
Ash
May 15, 2011, 7:45:22 PM5/15/11
to DDA 2010
Hello guys,
Pretty same situation here as well. I applied through my dad. Got this
document from DDA website, if thats of any use.
Guidelines for transfer of Allocation/Allotment of flat within family
member
The following documents are required to be submitted:
Affidavit from transferor on Rs. 10/- non-judicial stamp paper duly
attested.
Affidavit from transferee on Rs. 10/- non-judicial stamp paper duly
attested.
Indemnity Bond from the transferor on Rs. 100/- non-judicial stamp
paper duly registered.
Indemnity Bond from the transferee on Rs. 100/- non-judicial stamp
paper duly registered.
Undertaking from the transferee in case the of possession of the flat
has been taken
over by the allottee on Rs. 10/- on non-judicial stamp paper duly
attested.
No Objection Certificate from the employer/Govt. loan paying agency,
if house building advance obtained.
Documentary evidence of relationship i.e., attested photocopy of:
School leaving certificate,duly attested by the gazetted officer or
Passport, etc., duly attested by the gazetted officer and
Ration card
duly attested by the gazetted officer
For SFS flats - Bank guarantee duly renewed, if applicable.
Gift Deed in case the conveyance deed has been executed and registered
shall have to be registered after obtaining possession.
Photograph and three Signatures of both duly attested by the gazetted
officer.
Guidelines for inclusion of name of family member other than spouse as
co-registrant in registration
The following documents are required to be submitted:
Affidavit from Registrant on non-judicial stamp paper of Rs. 10/- duly
attested.
Affidavit from the co-registrant on non-judicial stamp paper of Rs.
10/- duly attested.
Indemnity Bond on non-judicial stamp paper of Rs. 100/- from
Registrant & Co-registrant duly attested
Registration Certificate in original
F.D.R. in original.
Documentary evidence of relationship of registrant and co-registrant
i.e.,
Ration card, duly attested copy by the gazetted officer and
School leaving certificate, duly attested copy by the gazetted officer
or
Passport, etc. duly attested copy by the gazetted officer
Photograph and specimen signatures of both duly attested.On May 15,
Pretty same situation here as well. I applied through my dad. Got this
document from DDA website, if thats of any use.
Guidelines for transfer of Allocation/Allotment of flat within family
member
The following documents are required to be submitted:
Affidavit from transferor on Rs. 10/- non-judicial stamp paper duly
attested.
Affidavit from transferee on Rs. 10/- non-judicial stamp paper duly
attested.
Indemnity Bond from the transferor on Rs. 100/- non-judicial stamp
paper duly registered.
Indemnity Bond from the transferee on Rs. 100/- non-judicial stamp
paper duly registered.
Undertaking from the transferee in case the of possession of the flat
has been taken
over by the allottee on Rs. 10/- on non-judicial stamp paper duly
attested.
No Objection Certificate from the employer/Govt. loan paying agency,
if house building advance obtained.
Documentary evidence of relationship i.e., attested photocopy of:
School leaving certificate,duly attested by the gazetted officer or
Passport, etc., duly attested by the gazetted officer and
Ration card
duly attested by the gazetted officer
For SFS flats - Bank guarantee duly renewed, if applicable.
Gift Deed in case the conveyance deed has been executed and registered
shall have to be registered after obtaining possession.
Photograph and three Signatures of both duly attested by the gazetted
officer.
Guidelines for inclusion of name of family member other than spouse as
co-registrant in registration
The following documents are required to be submitted:
Affidavit from Registrant on non-judicial stamp paper of Rs. 10/- duly
attested.
Affidavit from the co-registrant on non-judicial stamp paper of Rs.
10/- duly attested.
Indemnity Bond on non-judicial stamp paper of Rs. 100/- from
Registrant & Co-registrant duly attested
Registration Certificate in original
F.D.R. in original.
Documentary evidence of relationship of registrant and co-registrant
i.e.,
Ration card, duly attested copy by the gazetted officer and
School leaving certificate, duly attested copy by the gazetted officer
or
Passport, etc. duly attested copy by the gazetted officer
Photograph and specimen signatures of both duly attested.On May 15,
Santanu Haldar
May 19, 2011, 5:06:11 AM5/19/11
to dda-...@googlegroups.com
Copied from other thread - relevant for NRIs
---------------------------------------------------------------
Dear Naveen,
I forwarded your request to SBI manager on 13th May itself.
copy of the mail:
----------------------
"One of our group member has posted following query. Can you please respond to his query which is as follows.
“I am an NRI and require about Rs 1 crore for VK 3BR flat. The problem
is that it is my sister who was lucky in the draw. She will gift deed
the flat to me after conveyance from DDA. Will any bank finance such a
transaction? “
Key questions are
1. His Sister is allotted VK HIG flats implies property value 1.1 Cr+
2. He wants 1 Cr Loan
3. He is a NRI can he be co-applicant / guarantor to avail the loan?
4. What other method he or his sister adopt do to avail loan?
Post reply|
|
Naveen |
Post reply Best Reply
May 17 (2 days ago) |
|
Re: Template - Bank Loan Offer
Other recipients:
Thanks very much Santanu, your queries are right on accurate. The cost
of the flat will be about RS 1.25 crore including about 10 lakhs in advance maintenance charges. Naveen - show quoted text - | ||
Santanu Haldar
May 19, 2011, 5:10:50 AM5/19/11
to dda-...@googlegroups.com
Naveen,
SBI Response is as follows:
"Dear Sir in this case WE would not be able to finance, we can only take your Sister Husband as a co-applicant.
For further clarification you can call me -9540062152
Thanks
Rohit"
Naveen
May 19, 2011, 1:19:16 PM5/19/11
to DDA 2010
Santanu,
Thanks for following up on my case.
The information being given by Rohit is different than what other loan
officers at SBI are telling me. I guess, I will call this gentleman
directly and clarify.
BTW the loan officer I talked to was also interested in negotiating
with our group. If you like you could call him directly, his info is
Amit Prasad amit....@sbi.co.in 9871698419.
thanks
Naveen
Thanks for following up on my case.
The information being given by Rohit is different than what other loan
officers at SBI are telling me. I guess, I will call this gentleman
directly and clarify.
BTW the loan officer I talked to was also interested in negotiating
with our group. If you like you could call him directly, his info is
Amit Prasad amit....@sbi.co.in 9871698419.
thanks
Naveen
Santanu Haldar
May 20, 2011, 6:24:41 AM5/20/11
to dda-...@googlegroups.com
Naveen,
It is better talk to Rohit directly and give reference to your talk with other SBI officer.
Santanu
Ash
Apr 23, 2012, 5:01:31 PM4/23/12
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Dear All,
i would appreciate, if someone can share their experience in getting a power of attorney done at Indian consulate in uk or elsewhere. I have read in few places that power of attorney has to be registered, Is that right, doesnt say anywhere on sbi website?
Thanks,
ashok
May 7, 2012, 1:57:08 AM5/7/12
to DDA 2010
Dear All,
I am NRI and looking to avail the loan from SBI as part of DDA group
with my father as joint owner.My home town is not NCR/Delhi. Can
someone please clarify few question i have?
1. Currently I do not have any SBI account, is this a issue with
getting SBI loan?
2. since My home is not in NCR , is it going to delay the process.
3. My father is planning to attend the loan session that is planned to
be next saterday/sunday . If he is not able to make it to loan session
with DDA group can he directly go to the Loan Branch and mention DDA
Group member on any other day? Is that going to affect the process.
4.I have prepared all the documents from here in USA but still not
done with Power of Attorney which i have few question on :
4.1. SBI format of power of attorney at below link has multiple
document format like one of them being POA, do i need to complete all
the doc or just the POA ?:
http://www.sbi.co.in/webfiles/uploads/files/1279088758219_POWER_OF_ATTORNEY_HOMELOAN.pdf
4.2. SBI template of Power of attorney specifically asks for home
loan branch and sanction letter number and date, What to mention under
loan branch address,
Letter Number,Sanction Amount and Sanction Date as my Loan is not yet
sanction?I have not yet started the loan process.
I am looking to go to embassy to get POA attested at ASAP so that i
can send the documents to India at the earliest. Really appreciate any
clarification to these questions.
I am NRI and looking to avail the loan from SBI as part of DDA group
with my father as joint owner.My home town is not NCR/Delhi. Can
someone please clarify few question i have?
1. Currently I do not have any SBI account, is this a issue with
getting SBI loan?
2. since My home is not in NCR , is it going to delay the process.
3. My father is planning to attend the loan session that is planned to
be next saterday/sunday . If he is not able to make it to loan session
with DDA group can he directly go to the Loan Branch and mention DDA
Group member on any other day? Is that going to affect the process.
4.I have prepared all the documents from here in USA but still not
done with Power of Attorney which i have few question on :
4.1. SBI format of power of attorney at below link has multiple
document format like one of them being POA, do i need to complete all
the doc or just the POA ?:
http://www.sbi.co.in/webfiles/uploads/files/1279088758219_POWER_OF_ATTORNEY_HOMELOAN.pdf
4.2. SBI template of Power of attorney specifically asks for home
loan branch and sanction letter number and date, What to mention under
loan branch address,
Letter Number,Sanction Amount and Sanction Date as my Loan is not yet
sanction?I have not yet started the loan process.
I am looking to go to embassy to get POA attested at ASAP so that i
can send the documents to India at the earliest. Really appreciate any
clarification to these questions.
Sandeep Kumar
May 7, 2012, 4:06:56 AM5/7/12
to DDA 2010
Answers
1) No, not having SBI account is not a problem
2) Verification for outstation people takes 4-5 days extra.
3) We are not filing group application through any branch, it's
directly with SBI RACPC dept. I'll suggest try to do it this Saturday/
Sunday, but if for any unavoidable circumstance you are not able to do
it, I'll provide you the contact details of a SBI person responsible
for our group application, to whom you give application directly.
4) I think you can go for simple POA saying your so and so Indian
representative is authorized to sign on your behalf.
Regards
Sandeep
On May 7, 10:57 am, ashok <ashokg...@gmail.com> wrote:
> Dear All,
> I am NRI and looking to avail the loan from SBI as part of DDA group
> with my father as joint owner.My home town is not NCR/Delhi. Can
> someone please clarify few question i have?
>
> 1. Currently I do not have any SBI account, is this a issue with
> getting SBI loan?
> 2. since My home is not in NCR , is it going to delay the process.
> 3. My father is planning to attend the loan session that is planned to
> be next saterday/sunday . If he is not able to make it to loan session
> with DDA group can he directly go to the Loan Branch and mention DDA
> Group member on any other day? Is that going to affect the process.
> 4.I have prepared all the documents from here in USA but still not
> done with Power of Attorney which i have few question on :
> 4.1. SBI format of power of attorney at below link has multiple
> document format like one of them being POA, do i need to complete all
> the doc or just the POA ?:
> http://www.sbi.co.in/webfiles/uploads/files/1279088758219_POWER_OF_AT...
1) No, not having SBI account is not a problem
2) Verification for outstation people takes 4-5 days extra.
3) We are not filing group application through any branch, it's
directly with SBI RACPC dept. I'll suggest try to do it this Saturday/
Sunday, but if for any unavoidable circumstance you are not able to do
it, I'll provide you the contact details of a SBI person responsible
for our group application, to whom you give application directly.
4) I think you can go for simple POA saying your so and so Indian
representative is authorized to sign on your behalf.
Regards
Sandeep
On May 7, 10:57 am, ashok <ashokg...@gmail.com> wrote:
> Dear All,
> I am NRI and looking to avail the loan from SBI as part of DDA group
> with my father as joint owner.My home town is not NCR/Delhi. Can
> someone please clarify few question i have?
>
> 1. Currently I do not have any SBI account, is this a issue with
> getting SBI loan?
> 2. since My home is not in NCR , is it going to delay the process.
> 3. My father is planning to attend the loan session that is planned to
> be next saterday/sunday . If he is not able to make it to loan session
> with DDA group can he directly go to the Loan Branch and mention DDA
> Group member on any other day? Is that going to affect the process.
> 4.I have prepared all the documents from here in USA but still not
> done with Power of Attorney which i have few question on :
> 4.1. SBI format of power of attorney at below link has multiple
> document format like one of them being POA, do i need to complete all
> the doc or just the POA ?:
Ash
May 7, 2012, 5:25:06 AM5/7/12
to dda-...@googlegroups.com
Dear Ashok,
I am in pretty same situation. please find the attached the format of power of attorney. This is the form u need to get attested by consulate, dont bother about rest of the forms. U can get it done without filling details like branch and sanction letter as the person who s gonna be attorney can fill those details once u receive the sanction letter. U do need to attach the photo of the attorney and sign it as that is the most important thing. Consulate do put a stamp on saying that they are not responsible for the contents of the document, as they just want to confirm your signatures. I would recommend that your father attends this session and clear all the queries personally. If you still have any issues, you can contact a senior housing loan executive which I am using but I cant put his details on this forum without his permission. If u you want his details, pls send me ur email address.
Good luck,
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