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Can I take loan if municipal completion certificate is not obtained
16-Mar-2023 (In Banking / Finance Law)
Usually banks are granting home loans to the borrower on the strength of an agreement to sale which has been registered with Registrar of Assurance and full stamp duty has been paid.In such case if the house is under construction and municipal completion certificate is not obtained and also possession of the house is not handed over to the borrower whether the such mortgage is valid and enforceable by court.
Banks grants loans to the borrower on the agreement to sale which has been registered with the registrar, an agreement to sale can be obtained before the competition of the construction or the possession is handed over to the purchaser or the borrower.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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