Legal Question in Banking Law in India

I wish to purchase a flat in a Society. Society\'s lease is due and the Society\'s authorized person is not willing to renew lease. How can i avail loan towards this property. Please let me know if the bank has power to nullify/ cancel my loan request in such a situation.

Which bank can grant me loan?

Thanks in advance


Asked on 2/09/15, 4:41 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

10.02.2015

Dear Sir / Madam,

You have to ascertain and agree on the flat purchase with the Owner. Once the price or consideration is determined, you can approach and apply for a housing loan at any nationalized or scheduled bank granting housing loans to customers. Granting a housing loan will be at the discretion of the Bank and the Bank has the inherent right to nullify / cancel your loan request if all the terms and conditions of availing and sanctioning the housing loan by the Bank are not fulfilled by the customer.

Regards,

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Answered on 2/09/15, 5:21 pm


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