NBR Developers
Citiescities-arrow
  • more-arrow-down
    • Please wait while loading other cities loading...

Finance institutions suffered Rs 9,000 crores funding on illegal properties

  • No. 1 Property Portal in India
  • Over 25 Lakhs Apartments and More
  • Post Free Residential Properties in India
  • Find Property in Bangalore
  • Buy/Sell/Rent Apartments in India
  • Search Latest Residential Property in India
  • Get Free Alerts on Property Requirements
  • Find Agents/Buyers for your Property
mobile-ad
The Municipal Corporation of Delhi (MCD) was thoroughly destroying the illegitimate lands which had led some banks for loss. Banks might have lost Rs. 7,200 Crores to Rs. 9,000 Crores as an awful property on housing loans which was been paid from many years. Delhi had observed auctions of about 25,000 housing properties in the market for around Rs. 12,000-15,000 Crores on an average about 60% property cost which was financed by the banks. There were about 50 banks which were working through 2,000 branches in Delhi. This crisis was occurred while banks were in a hurry to hit competitors and had given the loans without correct certifications. According to the rules banks must release loans after making sure of title deeds, Form A, Form C, Form D and Form E which will be given by the MCD. But some banks and HFCs had been financing the properties without Form E and Form C & D.
Ankur Srivastava MD of DTZ told that, “Taxes at shares will be higher and at least 1,000 residences with an average price of Rs. 1.5 Crores were sold in South Delhi alone. Banks had financed on properties between Rs. 60 Lakhs and Rs. 1 Crores by taking their total yearly coverage to over Rs. 600-1,000 Crores.”
Legalized specialists were in the estimation that banks cannot even claim outstanding loans when a property is demolished.
Anshuman Magazine head of CB Richard Ellis India said that, “Banks had given finance without MCD’s conclusion documents for some years but as RBI became strict things were better.” After the sealing’s commenced RBI had issued a notice that banks should not give loans without correct documents from local authorities. Not only for home loans but also for the loans against property (LAP) which was given by banks might strike the books too and LAP market is believed to be almost double the dimension of the home loan market.
Source: NIMMA BENGALURU

Property Listings

Apartments, Flats and Property for Sale in New Delhi

Aug 01, 2015
Victorian Corporation is offering 2 bhk flat in Dwarka L Zone Delhi in its new residential project Victorian Privilege. The project is located in..
Jun 11, 2014
Antriksh Group launches a world class famous residential project of Antriksh Golf City noida. Types :Apartment, 2BHK, 3BHK Sizes :1050 - 1665 sq..
Apr 11, 2014
Well located apartment available for sale with all the modern amenities like power-backup, intercom, 24 hours security with CCTV surveillance,..
Mar 15, 2014
3 Bhk apartment for sale in rohini ........Please contact for more..
Mar 12, 2014
Available 1st and ground floor for sale at reasonable price,2+1 with 1 attached toilet,white marble flooring,modular kitchen,very near to main..
Feb 22, 2014
3 bhk apartment for sale in rohini delhi north.....please contact for more..
Feb 22, 2014
3 bhk apartment for sale is available in delhi north ..........please contact for more..
Feb 11, 2014
When you want to create a fresh perspective for your life, this is the best real estate option for you and your family. A self sufficient township..
Feb 10, 2014
Corner,200 yards (1800 sq Ft covered area),Freehold property,located in commercial road,in LAJPAT NAGAR-1, New Delhi.Three side balcony,3 Big Bed..
Dec 07, 2013
House is a building for human habitat on. It is one of the basic needs for many people, owning a home brings a sense of pride freedom that cannot..
spacer

Apartments, Flats and Property for Rent in New Delhi

Jul 19, 2016
For Rent New Friends Colony, Newly Built Second Floor 3 Bedrooms attached bathrooms, Drawing-Dining, Modular Kitchen, Excellent Wood work, Car..
Jan 14, 2016
For Rent at New Friends Colony, Nicely Built Third Floor 3 Bedrooms Attached Bathrooms, Drawing, Dining, Modular Kitchen, Car Parking, Woodwork,..
Jan 14, 2016
FOR RENT DEFENCE COLONY NEWLY BUILT SECOND FLOOR 4 BEDROOMS ATTACHED BATHROOMS, DRAWING, DINING, MODULAR KITCHEN, CAR PARKING, LIFT, S.Q. RENT..
Jan 06, 2016
FOR RENT DEFENCE COLONY NEWLY BUILT SECOND FLOOR 4 BEDROOMS ATTACHED BATHROOMS, DRAWING, DINING, MODULAR KITCHEN, CAR PARKING, LIFT, RENT..
Mar 12, 2014
Available 1st floor on rent in affordable price,2+1 with 1 attached toilet,white marble flooring,modular kitchen,nice location,very near to main..
Feb 25, 2014
Fully furnished 1 room with attached bathroom surrounding by green..
Jan 04, 2014
We offer our 3 BHK furnished apartment in defence colony. Apartment has three bedrooms with attached bathrooms. It has a modular kitchen which is..
Jun 05, 2013
1 ROOM SET, 1 BHK AND 2 BHK FULLY - FUNISHED are available for Rent in New Delhi at VASANT..
May 04, 2013
leigh appartment first floor for family, for sale in New..
spacer
spacer
spacer
spacer
spacer