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QUALITY HOUSING AT AFFORDABLE COST
NO PROFIT NO LOSS ORGANISATION
   
COIMBATORE : REVISION OF PAYMENT SCHEDULE; PUNE WAGHOLI : DELAY IN COMMENCEMENT OF CONSTRUCTION WORK; DEHRADUN (REG & JJAY) : HANDING/TAKING OVER SCHEDULE ; BANGALORE WHITEFIELD : DRAW RESULT OF SUPPLEMENTARY PARKING ; MEERUT (RAKSHAPURAM) : DEMAND SURVEY ; BELGAUM JJAY : HANDING TAKING OVER INSTRUCTIONS ; PUNE HADAPSAR P-II : OPTION LETTER FOR PARKING SPACES; OMR CHENNAI (TURNKEY) : REVISION OF PAYMENT SCHEDULE; KANDAGHAT, HP : EXPRESSION OF INTEREST; PANCHKULA SEC-27 : REVISED H/T SCHEDULE; BANGALORE (WHITEFIELD) : H/T SCHEDULE; VADODARA : EXPRESSION OF INTEREST;
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) 8.5% p.a. for amount sanctioned upto Rs50,000/- 
b) 10.0% p.a. for amount sanctioned upto Rs1,50,000/- 
c) 11.5% 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 or 85% of DU cost whichever is lesser

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)

3. 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.

Shalini Bisht Pundir
Branch Manager
State Bank of India,
Ins India Branch,
Dalhousie Road
New Delhi
Phn : 011-23010812, 023794285

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,

For Women Borrowers
Loan Amount  ROI
Upto 75 lacs 10.10% pa
Above 75 lacs 10.25% pa
No fixed rate available in any limit bracket

For Other Borrowers
Loan Amount  ROI
Upto 75 lacs 10.15% pa
Above 75 lacs 10.30% pa
No fixed rate available in any limit bracket

Note: There is no rebate or concession in interest rate in housing loans for DSP account holders. Only waiver of processing fee is applicable for DSP account holders (serving Army Personnel having DSP accounts in SBI) or Defence Pension account holders with SBI.

4. 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

Loan Slab

Adjustable Rate Home Loan

0-30 lacs

10.15%(RPLR-6.25%)

30.01- and above

10.40%(RPLR - 6%)

Processing Fee - 0.5% of the Loan amount or 10000/- which ever is lower

HDFC RPLR : 16.40%

Home Loan

Interest Rates during the Fixed Interest Rate Period (% pa)

Interest Rates during the Subsequent Period under ARHL (% pa)

Basis

Upto & including Rs 30 Lacs

10.50%

10.15%

RPLR-6.25%

Above Rs 30 Lacs

10.75%

10.40%

RPLR-6.00%

 


5. 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%
6. 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 10.25%
Above 30Lac 10.50%
Applicable admin fees 0.25% + ST
(Spl. discount of 0.75% to AWHO members)
7. 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.

8. 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.

9. House Building Loan LIC HOUSING FINANCE LTD 1. Loan Upto 85% of the cost of DU.*

2. Loan Upto 70% of income
AWHO allottees with sufficient repaying capacity

Contact Person - Mr Ranjit Singh Authorised DSA 8860942631,9268466681

RAJ KUMAR DUBEY, AREA MANAGER, 9971666891, 8860942631, 28855274, 25616197, 25616198
1. ROI 10.00% *
2. Processing Fee Rs. 5000 /-*
3. No Preclosure Charges*

*Subject to Terms and Conditions and Norms of LICHFL at any given time.

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.
 
Draft Tripartite Agreement (First Charge)
 
Draft Tripartite Agreement (Second Charge)
 
Note: 
1. DD OF RS. 200/- IS NOT REQUIRED WEF 01 APR 2010 TOWARDS SERVICE CHARGES FOR SIGNING THE TRIPARTITE AGREEMENT.
2. IF LOAN AVAILED FROM AGs BRANCH OR AGIF, TRIPARTITE AGREEMENT TO BE EXECUTED AS PER THEIR FORMAT, WHICH MAY BE OBTAINED FROM THEIR RESPECTIVE OFFICE.
 
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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