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05/02/2012 - HMDA plans Toll Tax on ORR from May
05/02/2012 - CBI Action on IAS officers, impacts Governance. Expect indecision by IAS officers on all matters. Project Approvals to be affected
04/02/2012 - Govt. may relax GO111 regulations in certain areas
30/01/2012 - BP Acharya Arrested by CBI in Emmar - APIIC Scam
28/01/2012 - Building Penalisation Scheme (BPS) may be extended
24/01/2012 - Cisco evaluates Hyderabad for Development Center
24/01/2012 - HMDA to take up Shaikpet to Kokapet ORR Radial Road work soon.
20/01/2012 - Andhra Pradesh seeks a stringent real estate Act
20/01/2012 - Infor Global Solutions eyes $70 mn from Hyerabad centre of excellence (CoE)
19/01/2012 - AP Govt seeks a stringent real estate regulatory Act
15/01/2012 - Kukatpalli to Hi Tec City in 2 Minutes- Rail Over Bridge to be ready by May 2012
12/01/2012 - Yash Birla to set up sports university near Hyderabad
12/01/2012 - KBR Park Prime Property Project by ICICI & NCC may be converted to Luxury Residential Apartments
12/01/2012 - Andhra Pradesh bags Rs.5.57 lakh crore investment projects
01/01/2012 - MGF may get the Boot as EMMAR Pleads to Let it Complete the Project, with 26% APIIC Stake Restored
01/01/2012 - LRS (Plot Regularization) Scheme is BACK! Regularize Your Plots till 30 June 30,2012.
20/12/2011 - GHMC undertakes Demolition of illegal buildings in LB Nagar
20/12/2011 - EMMAR - Govt Duel. EMMAR said to have agreed to restore 26% Stake of Govt in APIIC
19/12/2011 - Lanco Hills News. Apartment registrations under hold as legal battle rages in court.
19/12/2011 - LRS Deadline may be extended. But Eligibility Cut Off Date may remain December 31, 2007.
15/12/2011 - LIG - EWS Reservation in Real Estate Projects. 10% of the built-up area or 25% of its total units to be reserved
15/12/2011 - Mayo Clinic to Fly into Shamshabad? Joint venture planned by GMR, Apollo and Mayo Clinic
11/12/2011 - Hyderabad Real Estate scene looking up with Telangana movement factored!
10/12/2011 - DLF Commercial Project on Road No2 Banjara Hills in trouble. Cheating case against DLF honchos
07/12/2011 - GO111 Impact. Govt Cancels 227 Layouts in Moinabad, Shamshabad, Chevalla, Shankarpalli, Shabad Mandals
04/12/2011 - HMDA Plans Plot Auction in Jawaharnagar and elsehwere
21/11/2011 - Split or No Split? Solving the Hyderabad Puzzle.
21/11/2011 - LRS likely to be back again! Plot Regularization Could Still be Posiible!
17/11/2011 - US Company Siemon relocationg India Center from Delhi to Hyderabad!
06/11/2011 - Boulder Hills Plot Deals. Emaar, Stylish Homes deal a fraud,says CBI
06/11/2011 - Centre Plans to Go with Telangana Regional Council.
06/11/2011 - Hyderabad Real Estate Prices on Upward Move after an Year of Stagnation. Unresolved GO45 issue has potential to raise price by 20% overnight
06/11/2011 - Occupancy Certificate Needed for New Water Connections
05/11/2011 - GHMC Plans Green channel nod for high-rises soon
04/11/2011 - Rape of Kondapur Botanical Garden. HC issues notice to Govt and MOEF
02/11/2011 - 423 Acres Plotted Land Near Ramoji Film City. Wakf Board claims encroachment and issues notices to about 2000 plot owners
01/11/2011 - HMDA Plans Land Auction in Hyderabad to Raise Funds for ORR Works. 60 Leftover Plots and 3 Acres New Layout in Gopanpally to be auctioned
26/10/2011 - Bangalore Metro Runs while L&T to Rthink on Hyderabad Metro Project, in the wake of inability of Govt, to handover land
26/10/2011 - No one to Toll You on ORR! Toll Collection Postponed.
26/10/2011 - RBI raises hikes Repo Rate by 0.25 basis points. SB accounts to fetch more interest. Home loan Rates Unlikly to increase
25/10/2011 - Telangana News. SAMME ends after 42 days. Govt Staff to resume duty
22/10/2011 - ACB seeks info on illegal buildings in Kukatpally, Serilingampally and Rajendranagar municipal circles
22/10/2011 - Saab India Technology Centre opens in Hyderabad
21/10/2011 - Boulder Hills News. Plot buyers coerced to lie before CBI by
20/10/2011 - No Prepayment Penalty on Home Loans taken from HDFC, LIC, DHFL etc
19/10/2011 - Telanga Agitatiion Pauses for Breath. Govt Staff continues stir
19/10/2011 - AP among top five investment destinations notwithstanding Telangana Agitation
19/10/2011 - Decision on Telangana likely by month-end
18/10/2011 - GHMC sister city pacts a farce! Just a ploy to get Govt sponsored Foreign Tours!
18/10/2011 - Hyderabad Metro. Delay in Land Acquisition makes L&T jittery

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PARTIAL HOME LOAN. HOW DOES IT WORK? - JULY 2009
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PARTIAL HOME LOAN. HOW DOES IT WORK?

A look at operationalization of partial home loan .........Exclusive Ventures -July 2009
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1.0 Home Loan

Banks usually release 80 to 90% of the total Value of property as Home Loan, provided, the loanee's credit worthiness is equal to or above the value of the property. The balance amount of money that one has to bring-in, is called Margin Money. Bank will insist to see proof that Margin Money has been paid to the builder before loan is disbursed.

When a person takes only a lower, partial amount as loan, builder may insist that the amount not taken by loan, be paid upfront to him, in full to avoid possible payment defaults.

Lets look at what happens if Builder has agreed that upfront payment of self funded amount, is not necessary.

2.0 Partial Home Loan

Its Partial Loan, when you take a smaller amount as loan, compared to cost of an apartment.

Before deciding to go for partial loan, ensure that the balance amount is absolutely available with you, to be released as and when required.

During construction phase, delay in payment will be subject to large interest. This is due to the fact that the contractor would have bought materials in advance and he need to be compensated timely. Any delay will require contractor to raise short term funds at high interest rates and the interest and cost associated with funding such shortfall, will become bearable by the defaulter.

Once you go for Bank Loan, Banks make prompt payments and you do not need to worry about default interest payability. An individual, if he decides to fund by self, fully or partly, has to ensure that funds are absolutely available as per payment schedule, since interest costs in case of payment delays, could be heavy.


3.0 An Example

If an Apartment costs 35L and you take only 25L loan, the bank will release each installment ONLY after You have paid the Builder, respective installment of Money that You need to pay directly. The receipt from builder is to be given to Bank Before it releases.

In case of partial loan, if Bank do not release installment since you have delayed your portion to the builder, then interest will be applied to the entire due amount including due from bank and this interest will have to be borne by the Buyer.

Cost of Apartment: 35 L

Credit Limit Approval by Bank say- 38L

Amount taken by Loan -25L

Balance to be funded by self - 10L [Bank may seek clarification how and from where you propose to bring this part and it has to be satisfied]

Funded as Margin Money. Say 10% of property Value - 3.5L

Balance to be funded by self during construction- 6.5L

Bank Payment Schedule (Conceptual )

1st Installment - 25% = 6.25L - Bank Will pay 5L Only if Buyer has paid Builder 25% of 6.5L .(Self funding Portion) first. Receipt for this has to be given to bank for bank to release 6.25L.

Second - 25% =6.25L (Buyer has to pay 25% of 6.5L before Bank Pays 6.25L installment)

Third - 20% = 5L (Buyer has to pay 20% of 6.5L before Bank Pays 5L installment)

4th Installment -20% = 5L (Buyer has to pay 20% of 6.5L before Bank Pays 5L installment)

Final Installment 10% = 2.5L (Buyer has to pay balance of 6.5L before Bank Pays 2.5L installment)

Total 25L

In the above example, the buyer has to pay 1.3L as his portion of third installment. If he delays for 3 months, bank will hold its portion of 5L. Total amount due is 6.3L and default interest payable to the Builder, on 6.3L could be as high as 20% ie Rs.31,500 for just 3 months.

Before going for Partial Home loan, ensure that funding arrangement for the balance amount is firmly in place, to prevent wasting money, on default interest payment.
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