| TERMS AND CONDITIONS OF LOAN
Purpose of Loan
Loan upto 80% of balance land premium payable to the DDA for 100%
payment of land cost including Registration Charges and Stamp
Duty to a member society of the DCHFC.
Tripartite Agreement between the DDA, Society and the DCHFC with
an irrevocable authority by the Society in favour of DCHFC to
get the original perpetual Lease Deed of land on its execution
and registration from the DDA with a lien to DCHFC on it as a
Mortgagee. Execution of Loan Agreement and Mortgage Deed by the
Society in Favour the DCHFC.
of Bridge Loan
Bridge Loan Amount
Maximum upto 80% of the total land premium payable to the DDA
plus charges on account of Stamp Duty and registration.
@ 14.00% p.a.
The principal sum and interest thereon at the prescribed
rate would be payable monthly on or before 8th day of the month
as per schedule of payment to be given by the DCHFC to the borrowing
society. Repayment will be in 36 installments, first 21 months only interest and in balance 15 months EMI consisting of Interest and Principal
|Default in Payment
case of default, interest at the rate of 17% will be charged on the defaulted amount which includes 3% penal intrest till the default persists.
of Bridge loan amount
execution of Tripartite Agreement, followed by execution of Mortgage
Deed and Loan Agreement and its registration in the office of the
in the shares of the DCHFC
of a sum to the tune 1% of the released loan amount in the shares
of the DCHFC.
of allotment of land
letter of the DDA.
of receipts of payments made to the DDA.
Certificate, Certified copy of Bye-laws of the Society.
photo copy of the Registration Certificate and Bye-laws of the Society.
Body of the Society is Competent to fix the Maximum Credit Limit
(MCL) based on paid up share capital as provided in rule 68 of the
Delhi Cooperative Societies Rules, 1973
and last list of members of the society verified by the Registrar,
Co-operative Societies, Delhi for allotment of land with up-to-date
address. If some members have been resigned and new members have
been admitted, their details may be given in the remarks columns.