Six steps to a home loan

1: Submission of loan application

The
first step involves filling up the application form of the housing
finance company (or bank) along with the required documents. A one-time
processing fee will also have to be paid at this stage.

Income documents needed:

If you are employed

• Verification of employment form.
• Latest salary slip/salary certificate showing all deductions for at least the past six months.
• Form 16 from your employer for the past three years.
• If your job is transferable, permanent address needs to be provided.
• If
  you have been in your present employment / business or profession for
  less than a year, mention details of occupation for previous five
  years, giving position held, reasons for change and period of the same.

If you are self-employed

• Balance
  sheet and profit and loss account of the business/profession along with
  copies of individual income tax returns for the past three years as
  certified by a chartered accountant.
• A note giving information
  on the nature of the business/profession, year of establishment,
  present bankers, form of organisation, clients, suppliers, et cetera.
• Your net worth as an applicant/co-applicant.

2: Submission of property documents

• Title deeds of the builder/land owner for a period of at least 13 years.
• Development agreement between the builder and land owner if applicable.
• Power of Attorney executed in favour of the builder, if applicable.
• An
  encumbrance certificate for the past 13 years. An encumbrance
  certificate is  report issued by registrar of assurances or
  sub-registrar's office after due verification of the relevant documents
  certifying that the property in question is free from all encumbrances
  such as mortgages, leases, easements or restrictions.
• A khata
  certificate. This certificate is the basic document indicating
  ownership of property as entered in the register of the government
  authorities.
• Up-to-date tax paid receipts of the property.
• A sanctioned plan and licence.

3: At the housing finance company branch

• An agreement for sale and a construction agreement with the borrower.
• A comprehensive legal scrutiny will be done.
• Pre-sanction inspection of the property will be carried out.
• Credit appraisal and personal interview.
• Following this, a sanction letter will be issued.
• Acceptance of sanction letter. Administrative fee to be paid at this juncture.

4: Final documentation for the loan

• Tripartite agreement between the borrower, builder and the housing finance company to be submitted.
• Proof of investment of margin money to be submitted.
• Loan papers to be signed by the applicants.
• Your guarantors should execute the guarantee agreements.
• The original documents executed with the builder to be submitted.

5: Disbursement of the loan

• Inspection of the property will be carried out to ensure progress of work done.
• Following
  this, there will be a release of loan amount directly to the builder to
  coincide with the progress of work done as per the agreement with the
  builder.
• No objection certificate from the builder to mortgage the property in favour of the housing finance company to be obtained.
• No
  objection certificate to be obtained from other housing finance
  companies if the builder has availed a project loan, to release the
  mortgage right over the flat to be financed by the company you are
  securing the loan from.

6: After release of the loan amount

• Receipt to be obtained from the builder for the amount released.
• The sale deed, duly registered, must be obtained.
• In addition to this, an up-to-date tax paid receipt would be sought.
• An encumbrance certificate will be deemed necessary.

Procedure to obtain Home Loan from LIC Housing

Coming soon....................

Marriage certificate – Hindu marriage act

 

I am posting this information as I have learnt it from one of my friend who got his marriage certificate done.

1. First you need to fill up a form, which can be obtained at the registration office itself.

2. Proof of address for both Bride and Bridegroom.

List of documents that can be submitted as address proof

• Passport mentioning your current address.
• Driving license
• Electricity bill.
• Telephone bill
• Gas connection proof.
• Ration Card
• Voters ID
• A letter from your company HR.
• Rent Agreement copy.
• Bank statement showing your address.

All the documents need to be in English, Hindi or Kannada.

3. Date of Birth proof for Bride and Bridegroom. The following documents will be acceptable.
a. Passport
b. Date of Birth Certificate
c. Driving license
d. School / College leaving certificate
e. Voters ID

4. Invitation card in original.

5. 5 Copies of 2B size photo. A 2B size photo means a joint photo of Bride and Bridegroom.

• Fill the form with details and get it verified with the clerk. The clerk will cross check all the documents attached and then ask for signature of both Bride and Bridegroom on each and every document submitted. After the verification the clerk will stamp on the form.
• Take the stamped form to the Marriage Registrar. He will again verify it and sign it.
• Take the form to the operator who would enter the details in the registration database and give 3 copies of the certificate. Please ensure that all your spelling and details are correct and then sign a draft before printing the final certificate.
• Take the printouts to the clerk. Paste the remaining 3 photos on the 3 certificates and submit it back to the clerk.
• The clerk will acknowledge the receipt and you’ll have to sign in the register.
• The clerk will then get the certificate stamped and signed from the Marriage Registrar.

Important Note:

• Both the Bride and Bridegroom must be present to complete the whole procedure.
• 3 witnesses signature is required.
• 115 Rs. Official fees for registration.
• You will receive 2 original copies of the marriage certificate.

Beware: Fake mails circulating using ICICI banks email Id

 

Dear All,

I received a mail from ICICI bank suggesting me to verify my login details, else my account will be de-activated. I have verified that this is a fraud mail. This fake email is circulating and trying to cheat people. If you receive a mail like below, please delete it and do not give any details of your bank account. Below is a copy of mail that I have received today.. You may contact me for further details.

This web site at https://infinity.icicibankinfiniity.com has been reported as a web forgery.

We Are Upgrading Our Server's So Verify Your Login Details.

Dear ICICI Bank Customer,
This is your official notification from ICICI Bank that the service(s)

listed below will be deactivated and deleted if not renewed immediately.

Previous notifications have been sent to the Billing Contact assigned to

this account. As the Primary Contact, you must renew the service(s) listed

below or it will be deactivated and deleted.

SERVICE: ICICI Bank Online Banking Update

EXPIRATION: JAN 16th 2009

https://infinity.icicibank.co.in/login.jsp

For Corporate Users Click Here

https://cib.icicibank.com
Sincerely,
ICICI Bank Account Review Department.

Need help Use "Site Helper" or call customer service at 1.800.788.7000.
Please do not "Reply" to this Alert.
2007 ICICI Bank Financial Group. All rights reserved

 

Honeymoon in Kodaikanal

Kodaikanal is one of the most popular peaceful hill stations in Tamil Nadu. It is a striking hill resort on the Palani hill. Me and my wife are just back from our trip to Kodaikanal. We holidayed for 2 days in this beautiful place from 28th December to 29th December, 2008.

We booked seats online through KSRTC for our trip for 27th December 2008. The bus departed at 9.30 PM from Shanti Nagar Bus stop. Bus stopped after about an hour as soon it entered in Tamil Nadu for a 15 min break. Kodaikanal is about 500 Kms from Bangalore and 12 hours by road.

We woke up 7.30 AM the next day when the bus stopped for breakfast at a small hotel about 60 Kms from Kodaikanal. We got refreshed and had a cup of masala tea.

The bus departed at 7.45 AM towards Kodaikanal, and started climbing the ghats, It took abot 2.15 hrs reach Kodaikanal, the journey on the ghats seemed to be endless as the bus moved on the narrow roads of the ghats.

We reached Kodaikanal by 10.00 AM. We had booked a Super Deluxe room in Hotel Mount View(online – 2200 Rs/night). We got down at Zion School.  The weather was cold and we felt the chill as soon as we got down. We checked into Hotel 5 mins walk from Zion School. Hotel Mount View is little far from places like lake, Coaker's walk, Bryant Park and popular restaurants. The hotel staff was courteous and helped us with a smooth check-in.

The Hotel room was small one, but we didn’t bother much, as we had planned to roam around all day. After freshening up we had breakfast at a hotel restaurant nearby.

We booked a cab(Maruti Van) nearby restaurant for whole day trip, driver was Mr Mani(9865077293). He introduced himself to us, and speaks Hindi, English, Tamil and Telegu so it was easy conversing with him. He agreed to take us to 17 places the whole day and for Rs 600.  I suggest anyone to book the same driver as you can trust him, as well as he is a good guide and helps you to take your pictures too. Throughout our trip he took care of our belongings and guided us well.

You can also book local tour vans, they charge you about 200-300 per person, and it is a group tour, but you are not independent and don’t have much choices too.

The first place we visited was Chettiar Park and took photos of long lawns of green grass and rose plants. We spent about 20 minutes there. Further we went to see the Pine Tree forest and took a lot of pictures there.

Chettiar park

Chettiar park

Pine tree forest

Then moved to see the Green Valley View, Silent valley view and Vaigai dam view and finally reached to see the Pambar Falls.

Silent valley view

Silent valley view

Silent valley view

Pillars rock

Me and my guide/cab diver at Pambar falls

Had lunch at Royal Tibet hotel near the lake, then moved to the lake for a nice boating trip in a twin paddle boat for half an hour. As the time was passing by and evening approaching, the temperature started to fall again. It was quite chilly. We bought a pair of gloves and a woolen cap to keep ourselves warm and had a cup of masala tea. Spent some time sitting beside the lake and then headed back to hotel.

More about my trip shortly….

Spouse name addition in passport

I am writing about my experience in getting my name added to my wife's passport.

Note: Addition of spouse name or name change or address change involves reissue of passport. Therefore you'll get a fresh passport with a new passport number. If you have applied for any visa or any visa is stamped on the passport then try to avoid it.

To get it done I downloaded and printed the Miscellaneous services application form (Form 2) from the passport site http://passport.gov.in/cpv/miscell.pdf

A copy of your marriage certificate is required to be submitted. (The original is to be produced for verification). Spouse's passport should be produced(if any) at the counter for verification, along with a photocopy of it.

Passport size photograph with white background 5 Nos has to be submitted. Address proof is also required to be submitted if the present address is different from the one mentioned in the passport.

For marriage proof, I did not have copy of marriage certificate from registrar. In the absence of a marriage certificate, I had to make a joint affidavit (notarized) with a joint photograph. I had to go to Mayo hall, Bangalore to get it notarized and attested by magistrate. As I went there, some lawyers approached and asked what was to be done. I informed them about my requirements, upon which they asked me that it would take 300 Rs, I bargained and got the work done for 100 Rs.

I suggest you carry 3 sets of copies of marriage proof, address proof and spouse's passport copy.

The next day we reached the passport office about 10:30, parked my bike and stood in a queue to get the token. After getting the token we went to the ground floor main hall and stood in another queue nearby the door hall to get the documents verified and stapled by the clerk.

Then we sat in the hall and waited for our token number. When our token number flashed on the screen we rushed to the counter and submitted our documents along with my wife's original passport. The officer verified all the documents, collected 1000 Rs from us and stamped a "Canceled" seal on my wife's original passport and handed it us along with the 1000 Rs payment receipt.

We received a new passport with a new passport number in 15 days.


I hope this post helps other people. This is my true experience, there might be variations changes at other cities and states. Request reader not to completely depend on this post and only use it as a reference.

Marriage certificate - Muslim marriage act

Hi All,


I am writing this blog as I could not find any site or blog providing information of getting a Marriage certificate from the registrar under the Muslim marriage act.

Note: The total time for getting your marriage certificate has a waiting period of 30 days (Muslim marriage / Special Marriage act). At the time of submitting and receiving the marriage certificate, the bride, the groom and the same 3 witnesses are required to be present.

Submission procedure: The bride and groom need to be present at the time of application along with 3 witnesses. An application form in 3 sets needs to be filled along with the age proof, address proof of both the bride and groom, signature of bride groom and the 3 witnesses and submitted to the Marriage officer (Sub registrar) . In my case they never asked for a joint photograph. Hence I assume it to be same at all the other offices too.

A fee of Rs 15 is charged at the time of submission and you need to produce the receipt at the time of receiving the marriage certificate.

Sub registrar will request to wait for a period of 30 days as under the Muslim marriage act/Special marriage act.

Your application is then put on the notice board of the respective registrar office for a period of 30 days.

Receiving the marriage certificate: Once the 30 days period is over the bride, groom and 3 witnesses need to be present at the sub registrar office and submit the receipt received at the time of submission.

The sub registrar's secretary will ask you to get a printed copy of the marriage certificate(3 sets). Sub-registrar will verify the certificates, sign and put a seal on it. Two copies will be kept by Registrar and one copy will be given to you.

I hope this blog will help others.

This is my true experience, there might be changes or variations in the procedure at different states or cities, request all the readers to inquire about the procedure yourselves and not completely depend on the information published on this blog.