Legal Question in Banking Law in India
In a housing finance loan property is equitable mortgaged for Rs 5000/- maxi value set by Tamil Nadu in year 2011 at the time of registration. Subsequently, Tamil Nadu has revised the maxi value of mortgage to Rs25,0000/- After a year on applying for renovation loan in the same finance institute for the same property, they ask for again 0.5 percent of the loan to extend the equitable mortgage.
Should I need to pay again.
Asked on 8/03/12, 5:09 am
1 Answer from Attorneys
Aniruddha Pawse
Aniruddha.P.Pawse Advocates
You have to seek a opinion of local lawyer as they are state laws.
Answered on 8/04/12, 5:53 am
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