Which Bank is giving loan for YEIDA plots?

[AA]

Hi All,

Just wondering if SBI, LIC HF is giving loan for YEIDA projects. And
if any anybody knows of any good Loan agent from these banks who can
initiate & expedite the loan processing application.

Also apart from SBI & LIC which other bank is giving good interest
rate for home loans.

Would appreciate any pointers around the same?

Thanks,
Anurag

[tmisyssol]

Hi Anurag,

 

I am a Financial Consultant and providing loan from LICHF and HDFC for YEIDA.

 

pls let me know the details of yours.

 

Mail me at manis...@gmail.com

Regards,

 

Manish Garg

9811275430

[Latshare]

I had raised this query earlier on the forum and there were no specific responses.

 

I am an allottee of 1,000 sq.m. plot and have decided to acquire the same. I have tried to route my loan application through some DMAs of the financial institutions. Axis Bank, LIC HF, HDFC, IDBI, SBI etc. are some of the names being spoken of. It now appears to me that the DMAs are merely collecting the documentation and keeping files ready in anticipation.

The crux of the matter, as came out from my talks with the DMAs is the elusive solution to the following issues:

 

1. Creating first charge of mortgage in favour of the financial institutions : (The brochure reads: Cl. 14(iii)Any lessee, with the previous written permission of the lessor or any officer authorized in that behalf, may  mortgage the lease plot (i.e. after execution of the lease deed) for the purposes of procuring a loan from the any of  bank / financial institution. In the event of grant of permission to mortgage the Authority shall have first charge over the mortgaged plot  All other terms and condition on which mortgage is permitted shall be binding on the allottee).

2. Making down payment to YEIDA so that the Allottee does not end up paying interest to two parties, i.e. to YEIDA (12%) and the financial institution (much less than 12%).

 

Daily I am informed that the possible lenders are negotiating with YEIDA and an outcome is expected shortly. That "shortly" is going on for the last couple of weeks.I am told by DMAs that LIC HF needs 3~4 weeks whereas rest need 2~3 weeks processing time. Processing fees quoted vary (Rs. 1,106 to 5,500 to  0.5% or 11,000/- whichever is lower).

 

I request the knowledgeable stalwarts on this forum to guide the rest in this obviously very important matter.

 

Cheers!

 

Latshare 

[AA]

Hi,

I just had a discussion with one of the Financial consultant on this
forum and looks like LIC has not approved this project for loan yet.
LIC will be confirming that in next couple of days.

In meantime just wondering if SBI is giving loan for YEIDA.

Thanks

On Nov 19, 5:46 pm, Latshare <latsh...@gmail.com> wrote:
> I had raised this query earlier on the forum and there were no specific
> responses.
>
> I am an allottee of 1,000 sq.m. plot and have decided to acquire the same. I
> have tried to route my loan application through some DMAs of the financial
> institutions. Axis Bank, LIC HF, HDFC, IDBI, SBI etc. are some of the names
> being spoken of. It now appears to me that the DMAs are merely collecting
> the documentation and keeping files ready in anticipation.
> The crux of the matter, as came out from my talks with the DMAs is the
> elusive solution to the following issues:
>
> 1. Creating first charge of mortgage in favour of the financial institutions

> : (*The brochure reads: Cl. 14(iii)Any lessee, with the previous written

> permission of the lessor or any officer authorized in that behalf, may
> mortgage the lease plot (i.e. after execution of the lease deed) for the
> purposes of procuring a loan from the any of  bank / financial institution. In
> the event of grant of permission to mortgage the Authority shall have first
> charge over the mortgaged plot  All other terms and condition on which

> mortgage is permitted shall be binding on the allottee*).

> 2. Making down payment to YEIDA so that the Allottee does not end up paying
> interest to two parties, i.e. to YEIDA (12%) and the financial institution
> (much less than 12%).
>
> Daily I am informed that the possible lenders are negotiating with YEIDA and
> an outcome is expected shortly. That "shortly" is going on for the last
> couple of weeks.I am told by DMAs that LIC HF needs 3~4 weeks whereas rest
> need 2~3 weeks processing time. Processing fees quoted vary (Rs. 1,106 to
> 5,500 to  0.5% or 11,000/- whichever is lower).
>
> I request the knowledgeable stalwarts on this forum to guide the rest in
> this obviously very important matter.
>
> Cheers!
>
> Latshare
>

> On Thu, Nov 19, 2009 at 5:16 PM, tmisyssol <tm.isysn...@gmail.com> wrote:
> > Hi Anurag,
>
> > I am a Financial Consultant and providing loan from LICHF and HDFC for
> > YEIDA.
>
> > pls let me know the details of yours.
>

> > Mail me at manis.g...@gmail.com
> > Regards,
>
> > Manish Garg
> > 9811275430