Most Important Terms & Conditions

MOST IMPORTANT TERMS AND CONDITIONS
OFFER CUM ACKNOWLEDGEMENT FORM
Major Terms and Conditions of the housing loan agreed to between (Borrower(s) name) and New Habitat Housing Finance &Development Ltd. (NHHFDL) are as under:
Dear Customer Date:
Thank you for your decision to avail loan facility with NHHFDL. We hereby confirm our acceptance to extend the facility on terms referred herein.
PARTICULARS OF THE LOAN:
1 Application No./ LAN No.
2 Loan Amount (Rs.)
3 Loan Type Other: ) a. Home Loan b. Land Loan c. Loan cum construction Loan d. Home Equity f. Others…………………………………..(Please specify)
4 Rate Type a Fixed b. Adjustable Rate Home Loan (ARHL) Rate c. Others
5
Rate of Interest
For a. Fixed Rate of Interest
(i) The Applicant/s shall pay interest on the principal amount of the Facility outstanding from time to time monthly at % per annum plus applicable taxes/ statutory levy on the dates mentioned below.
(ii) The Applicant/s shall pay PEMI at % per annum plus applicable taxes/ statutory levy until commencement of the EMI. Such PEMI will be calculated from the date of respective disbursement(s) and shall be payable on the dates mentioned below.
For b. Adjustable Home Loan Rate (ARHL) of Interest :
(i) Retail Prime Lending Rate (RPLR) = %per annum as on date.
(ii) The Applicant/s will pay Adjustable Home Loan Rate (ARHL) Interest of % per annum (i.e. RPLR + margin of %) plus applicable interest tax or other statutory levies.
(iii) The Applicant/s shall pay PEMI at % per annum until commencement of the EMI payable on the dates mentioned below plus applicable interest tax or other statutory levies
(iv) Reset Period: Every three months from the date of first disbursement
6 Tenure/Total No. of EMIs months/ EMIs (Subject to change with a change in Base Rate, in cases of Floating / Adjustable Rate of Interest).
REPAYMENT OF THE LOAN & INTEREST:
1 EMI (Rs.) Rs. (Subject to change with a change in RPLR, in cases of Floating / Adjustable Rate of Interest)
2 Due Date for payment of first EMI
INSURANCE OF THE PROPERTY AND THE BORROWER(S):
1 Insurance of the Borrower Premium Features_Life cover for the Outstanding Loan Amount as per Policy availed by the borrower
2 Insurance of the property Premium Features Property cover against any damage as per Fire Insurance Policy availed by the borrower
FEES AND OTHER CHARGES:
  As per Annexure A
SECURITY FOR THE LOAN:
Mortgage of Below mentioned property in Favour of NHHFDL
Property Mortgaged:
Other Security:
Detail of Guarantor(s):
CONDITION FOR THE DISBURSEMENT OF LOAN:
The Loan is subject to satisfactory compliance of all terms and conditions as stipulated in the legal opinion report, technical verification report of the property, sanction letter and other term and conditions as applicable, to be funded by NHHFDL.
Any Special Condition: As per the Loan offer letter
PROCEDURE FOR INTIMATION OF THE CHANGES IN RATE OF INTEREST / EMI
In event of any change in rate of interest /EMI, NHHFDL will communicate the same to you through letter at the last known address as updated in our records, within 15 days of subsequent quarter.
Note: Service Tax & other govt. taxes, levies, etc. applicable as per prevailing rate will be charges over and above these charges.
I/we acknowledge that:
1 I / We have not made any payments in cash, bearer cheque or kind along with or in connection with this application to the executive collecting my / our application form.
2 All other terms and condition of the contract will be as per our loan agreement signed by you.
3 This offer is valid for 90 days, subject to submission and fulfillment of all required document for the proposed loan.
4 Company may withdraw this offer, if any information/document provided by you seems doubtful.
5 Please read our agreement carefully for executing the same, our executive will help you in understanding/ clarifying any clause if you required.
BRIEF INDICATIVE PROCEDURE TO BE FOLLOWED FOR RECOVERY OF OVERDUE
On occurrence of any Event of Default as mentioned in the Loan Agreement, all Outstanding Amount owned by the Borrower to the Lender shall become payable forthwith and the Lender reserves the right to undertake such necessary processes/measures to enforce its rights under the Loan Agreement including but not limited to charging Default Interest, recovery of over dues by enforcing the Security in accordance with the remedy available under the Law. The actual recovery procedure shall be determined by the Lender depending upon the circumstances of each transaction. All the recovery related cost/charges shall be payable by the Borrower.
CUSTOMER SERVICES:
For any assistance/queries, you can visit our office or contact us @ between 9:30 AM to 6:00 PM. You can also write to us at
You can collect the following documents by visiting our branch, timelines are mentioned for the same:
Loan Account Statement Within 7 working days
Photocopy of the title documents Within 14 working days
Return of Original document on closure of the loan Within 21 working days
CUSTOMER GRIEVANCE MECHANISM
New Habitat Housing Finance & Development Limited ( NHHFDL), we believe in providing the best of services to our customers. We provide customers with easy access to information, products and services, as well as the means to get their grievances redressed.

Step1:

Please visit to the nearest New Habitat Housing Finance & Development Limited ( NHHFDL), Branch and submit your complaints/grievance get your complaint logged in the “Complaint & Grievance Register” maintained at the branches (During the working hours from 9:30 A.M to 6:00 P.M) We will respond to your complaint within 15 working days.
Step 2:
If you are still not satisfied with the resolution you receive, or you don’t receive any response within 15 working days you can write, mail, fax or call to the Nodal Officer of the company:-

Mr. Vivek Krishan
C-1, Sector 3, Noida
Uttar Pradesh
E-Mail ID: vivek.krishan@newhabitat.in
Office: +91 120 4180500 Extn. 1611
Mob:+91 9654841478

After examining the matter, we shall send the customer our final response or explain why it needs more time to respond and shall endeavor to do so within 15 working days.

In case the Borrower is still not satisfied with the response, the Borrower may approach the Complaint Redressal Cell of National Housing Bank by lodging its complaint in Online mode at the link https://grids.nhbonline.org.in or may write to National Housing Bank, Complaint Redressal Cell, Department of Regulation & Supervision, National Housing Bank, 4th Floor, Core 5A, India Habitat Centre, Lodhi Road, New Delhi – 110003

It is hereby agreed that for detail terms and conditions of the Loan, the parties hereto shall refer to and rely upon the loan and other security documents executed / to be executed by them.

The above terms and conditions have been read by the borrower/s / read over to the borrower by Shri/Smt./Km. of the company and have been understood by the borrower/s.

Signature of Borrower(s) along with full Name : Signature & Name of the Authorized Representative:
(New Habitat Housing Finance & Development Limited)

Date:
Note: Duplicate copy of the MITC should be handed-over to the borrower(s).

Download Annexure A