ARMY WELFARE HOUSING ORGANISATION

INCOME TAX REBATE (SELF OCCUPIED PROPERTY):-

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QUALITY HOUSING AT AFFORDABLE COST

NO PROFIT NO LOSS ORGANISATION

PANCHKULA SECT 27 : HANDING OVER SCHEDULE ; BANGALORE WHITEFIELD: OPTION LETTER ; PUNE HADAPSAR PH-II : OPTION LETTER ; LATEST JOB VACANCIES AWHO; MYSORE (KESARE) : PROPOSED MASTER PLAN & FLOOR PLANS; FEEDBACK FROM ALLOTTEES / REGISTRANTS; MOHALI SECTOR 114 OPEN FOR AR AND GREF; CHENNAI OMR - OPEN TO AR, GREF, IAF AND NAVY;

LOAN OPTIONS FROM VARIOUS LOANING AGENCIES

S.No.	Loan	Agencies	Max Amount (Rs)	Eligibility	Obtain Application From	Rate of Interest
1.	House Building Advance (HBA)	AG’s Branch	2.1 Lac Provided cost of flat is below Rs 37.50 Lacs.	Serving Army Pers.	Room No. 414, Sena Bhawan, Rajaji Marg, New Delhi-110011 Ph- 35062 (ASCON) 011-23792551	a) 7.5% p.a. for amount sanctioned upto Rs50,000/- b) 9.0% p.a. for amount sanctioned upto Rs1,50,000/- c) 11.0% p.a. for amount sanctioned upto Rs2,10,000/-
	2.5% rebate in the interest for the following @ .5% for each condition:- * Making regular payment of HBA. * Mortgaging flat in favour of President of India within 90 days of taking possession. * Insurance of house against risk of fire, flood and lightening. * Maintaining the house in good repair and pay all the taxes etc. * Seeking prior permission in case of further mortgage. A further rebate of 0.5% for adopting small family norms.


S.No.	Loan	Agencies	Max Amount (Rs)	Eligibility	Obtain Application From	Rate of Interest
2.	House Building Advance (HBA)	AGIF, Army Group Insurance Fund	35 Lac	All Service Offrs/ JCOs & OR (Re-emp Offrs, JCOs/OR are NOT eligible)#	AGI Bhawan, Rao Tula Ram Marg New Delhi Ph – 26142749 & 26151031	JCOs/OR - 7.5% Offrs - 9.0%
	# Short Service Commissioned Officers including Women Service Entry Scheme Officers can apply after getting first extension for next 10 years. * Max Repayment Period 240 months acutal period upto 6 month prior to date of retirement. * Processing Fee 0.25%, min of Rs. 250/- and upto a max of Rs. 1,000/-. * Administrative Fee 0.5 %, subject to min of Rs. 250/- and upto a max of Rs. 1,250/-. * Monthly reducing balance. * Max loan admissible excluding the HBA given by Army HQ (AG’s Branch) will not exceed Rs. 35 Lacs or 50 times the Basic Pay whichever is less. * Loan amount will be restricted to the repaying capacity of the individual in the present rank. * 1% as Compulsory Insurance Cover for the loan amount sanctioned.

S.No.

Loan

Agencies

Max Amount
(Rs)

Eligibility

Obtain Application From

Rate of Interest
(Confirm from agency for changes if any)

House Building Loan

SBI

1. Upto 80% of the cost of DU.

2. 55% of Income as EMI

All AWHO allottees having adequate repaying capacity.

Mr. Kewal K Batra,
Sr. Marketing Executive
Mobile No- 9810528259 Email id:- kewal.batra@sbi.co.in

Mr Sanjeev Garg,
Marketing Executive
Mobile No-9871698418 Email id:- sanjeev.garg4@sbi.co.in

C/o State Bank of India, 11 Parliament Street New Delhi-110001, Tel. 011-23407900-02,

Upto 30 Lacs : 10.50%

Above 30 Lacs to Rs. 75 Lacs: 10.75%

Above Rs. 75 Lacs : 11.00%

House Building Loan

HDFC

Upto 85% of the cost of DU.

All AWHO allottees having adequate repaying capacity.

HDFC Ltd, The Capital Court, Munirka, Outer Ring Road, Olaf Palme Marg, New Delhi-110067
Phone: 011-41115111
Ruchi Ahuja @9818327381

0-30 Lakhs : 10.5%
30-75 Lakhs : 10.75%
75 n above : 11.00%

HDFC OFFER FOR SERVING ARMY PERSONNEL
All serving Army Personnel can avail 50% off on the processing fee for all home loan applications logged in till 31st March 2013 and disbursed till 30th June 2013

House Building Loan

Syndicate Bank

90% of total cost of DU if loan amount upto 25 lacs
Or
80% of total cost of DU if loan amount above 25 lacs

All AWHO allottees having adequate repaying capacity

Any branch of Syndicate Bank

0-25 Lakhs :10.50%
25-75 Lakhs :10.75%
75 Lakhs n above : 10.90%

Home Loan

ICICI Bank Limited

Upto 80% of the cost of the construction as applicable

All AWHO allottees having adequate repaying capacity.

Nearest ICICI bank Branch.
Raman Walia
Regional Head

ICICI Bank Ltd

Tel : 09899457658
Email : raman.walia@icicibank.com

Upto 30Lac 10.5%
Above 30Lac 10.75%*
Applicable admin fees 0.25% + ST (Spl. discount of 0.75% to AWHO members)

House Building Loan

State Bank of Travancore

M.G. Road, Ernakulam

Relation Manager : 0484-2350245 / 9656111056
Assst Manager: 0484-2350245 / 9447140046
Chief Manager : 0484-2368555 / 9446410006
Email: ekmmgroad@sbt.co.in

* Attractive interest rates.

* Concession of 0.5% in interest rate exclusively for the allottees.

* Low processing charges.

Concession of 50% in processing charges exclusively for the allottees.

* No preclosure charges.

Freedom to prepay installments.

* Option for availing Housing Loan as Overdraft. (upto Rs 50 lakhs).

* Facility for capitalization of interest during construction period.

* Interest calculated on daily diminishing balance.

House Building Loan

Bank of Maharashtra

28/ 14, 1st Floor, East Patel Nagar, New Delhi-110008
Tel: 25816858, 25816859, 25788604, Tele Fax: 42481310

* Lowest Rate of Interest @ 10.60%
* No processing Fees upto Rs 25.00 Lacs loan amount
Quick Processing / Decision

House Building Loan

Vijaya Bank

RACPC (CO Code 9804)
Vijaya Building, Ground Floor,
17, Barakhamba Road,
New Delhi - 110001.
Phone: 011-23353242
Fax: 011-23721079, IP: 980401
Email: delracpc@vjayabank.co.in

Less than Rs 75.00 lakhs : BR + 0.05% presently at 10.25% pa
75 lakhs and above : BR + 0.30% = 10.50% pa
Processing/ Prepayment/ Documentation Charges NIL
Rates & Charges valid upto 30.6.2013

10.

Star Home Loan

Bank of India

(a) Upto 80% of the cost of flat / house / unit

(b) Max EMI can be = (60% of gross income) - (deductions)

(a) AWHO allottees with sufficient repaying capacity

(b) Maximum eligibilty is 6 times of annual gross income

Any nearest branch of BOI

or

Form can be requested through email from: rbc.lucknow@bankofindia.co.in

- 10.50% (upto Rs 30 Lacs)

- 10.75% (Above Rs.30 Lacs to Rs.75 Lacs

- 11.25% (Rs.75 Lacs and above)

NIL Processing fees

Draft Tripartite Agreement (First Charge)

Draft Tripartite Agreement (Second Charge)

Note: DD OF RS. 200/- IS NOT REQUIRED WEF 01 APR 2010 TOWARDS SERVICE CHARGES FOR SIGNING THE TRIPARTITE AGREEMENT.

Loan Assistance: Allottees, if seem to be cheated by officials/agents of any Pvt Banks & Financial Institutions for getting Home Loans may seek guidance and help on legal avenues free of cost from Lt Col Sham Lal Sharma (Retd) who is advocate at Supreme Court of India and P&H High Court, Chandigarh. He may be contacted at 0172-2607461, 09815960746 & shamsons@rediffmail.com. However, such cases shall not be referred to AWHO.

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KINDLY CONTACT LOANING AGENCY FOR THE LATEST INFO

POINTS TO NOTE:-

1.   Check the EMI for the loan tenure along with the interest.
2.   Prepayment of loan should be allowed without inviting any penalty.
3.   Penalty for late payment & incentive for timely payment should be known.
4.   Processing Fees & Administrative Fees/Service Charges should be known.
5.   Necessary NOC (No Objection Certificate) and Non-Encumberance Certificate can be obtained from AWHO on specific request by allottee along with provisional Interim sanction. Sanction letter from the loaning agency stating the loan amount and tenure.
6.  Tripartite Agreement for HBA from AG PS-3(c) and AGIF is signed by AWHO as per their Draft Agreement. For other Housing Finance Agencies, Tripartite Agreement / Undertaking approved by AWHO is signed.

INCOME TAX REBATE (SELF OCCUPIED PROPERTY):-

1.   Whatever loan you repay, it has two components : Principal and Interest.
2.   Interest Component is to be deducted fully (100%) from the Taxable Income up to a maximum limit of Rs 1,50,000/-.
3.   Principal Component (Up to Rs. 1,00,000/- Only) to be claimed for rebate under Section 88.

Housing Loan :- PROCEDURE TO FOLLOW

1. Select a loaning agency, show them your Financial Papers:-
(a) Latest Pay Slip/Proof of Income (3 months).
(b) Bank Statement for last six months where salary is credited.
(c) Income Tax Return/Form 16 (Last 2-3 years).
(d) PAN Card.
(e) Identity Proof.
(f) Residence Proof.
(g) Passport size photo.
(h) Personal assets and liabilities statement (PF, PPF, LIC etc.) along with documentary evidence.
(j) Copy of PPO/Pension certificate copy (For pensioners).

And obtain a provisional/Interim sanction letter from the loaning agency stating the loan amount and tenure.

2. Apply to AWHO Loan Section for a No Objection or for mortgaging the allotted dwelling unit with a copy of sanction letter.

3. In case the loaning agency requires a tripartite agreement to be signed. It has to be done as per AWHO draft which is given here.