Benefits of Applying Online
When Banks Compete, you win.
Apply for a Home Loan at ApnaPaisa and we will match your requirements with the best offers from our network of over 400 service providers. We will get a maximum of five providers to compete for your business. WHEN BANKS COMPETE YOU WIN. You can then decide which home loan is best for you based on:
- Lowest Interest Rate
- Lowest EMI
- No Pre-payment charges
- Lowest Processing Fees
- Maximum Eligible Loan Amount
- Mandatory Documents Required
- Lowest Processing Fees
Or any other factor that is important to you.
Negotiating Tips
1) If you have a good credit record and your income is sufficient to justify the loan you can negotiate on interest rates. You can also try and get Processing fees or legal or valuation fees reduced or completely waived.
2) If you go for a floating rate loan then pre-payment charges are not payable.
3) When interest rates are high and are expected to go down you should go in for a floating rate loan as it makes no sense to lock into high fixed rates or the so called Dual rate loans where rates remain fixed for a couple of years before shifting to regular floating rate loans. Please review this decision at least once every 6 months
4) Take term insurance and critical illness and accidental disability policy for the full loan amount to make sure you or your loved ones don't have to worry about loan repayment should you die or are disabled due to a critical illness or accident. You cannot be forced to buy this policy from the insurance company chosen by the lender - you should choose your own insurer.
Amendment proposed to Maharashtra Ownership Flats Act, 1963
Amendment proposed to Maharashtra Ownership Flats (Regulation of the promotion of construction, sale, management and transfer) Act, 1963Apnaloan.com Research Bureau
09 Apr 2008
The Chief Minister Vilasrao Deshmukh is pushing for the passage of an amendment to The Maharashtra Ownership Flats (Regulation of the promotion of construction, sale, management and transfer) Act, 1963 in the Maharastra State Legislative Assembly.
If the proposed amendment comes through, it will become mandatory for builders to sell the flats at carpet areas. Errant builders may face imprisonment of up to 3 years.
This proposal was earlier announced by the CM in the draft housing policy in November 2006.
The CM also took into account the fact that most buyers are not aware of the differences between terms such as carpet area, built-up area and super built-up areas of a flat.
An amendment is introduced to Section 3 (2) of The Maharashtra Ownership Flats (Regulation of the promotion of construction, sale, management and transfer) Act and placed it before the House on Friday.
According to the proposed amendment, flats can be sold only on the basis of Carpet Area and the builder/promoter can charge for the common areas and facilities in proportion to the carpet area of the flat.
Removing any ambiguity, it has been clarified that the flat will include the area of the balcony of such flat.
Any violation of this act can mean a three year imprisonment to the builder/promoter, proposed to be as per section 13 (A) of the Act.
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