Approved Housing Projects
The details of housing projects approved by the Bank are furnished in the next page. Approval of housing projects are mainly for the purpose of eliminating possible delay by avoiding repetitive jobs in processing of loan applications from different purchasers who propose to buy dwelling units in the same project. It is clarified that approval accorded by the Bank is project-specific and not builder-specific.
It is hereby expressly clarified that addition of a housing project in the list of approved housing projects does not mean that the project is being recommended by the Bank. Further, approval of housing project should not be construed to mean that the Bank is certifying /guaranteeing the competence of the Builder, facilities, title of the property, regulatory approvals, quality of construction or delivery schedules etc.
The customers are advised to make independent and discreet enquiries on the projects and satisfy themselves on the credentials of the Builder, before taking any decision.
It is also made clear that the Bank shall not be a party to any dispute which may arise between the customer / builder / third party / regulators etc.
Approval of the housing project does not give a right to customers to claim the loan as a matter of right. The granting/sanctioning of loan is at the discretion of the Bank and shall not be liable to be questioned.
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