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Housing / Loans / Hudco Niwas

NRI.........
List of documents to be submitted for the loans:
A) Photocopies of :
  1. Residency related documents
  2. Overseas Bank account statement for the last six months.
  3. Bank account statement of NRE/NCNR/NRO/NRNR account in India for the last six months.
  4. Employment contract (if a contract is in a language other than English, an English translation of the same attested by the Embassy/Employer should be given).
  5. Latest salary slip.
  6. Receipts for payments if any made for purchase of dwelling units.
  7. Latest work permit.
  8. Identity card issued by current employer.
  9. Visa stamped on passport.
  10. Continuous Discharge Certificate (CDC) (if applicable).
  11. Copy of approved drawings of proposed construction/purchase.
  12. Agreement for sale/sale deed/detailed cost estimate from Architect/Engineer for property to be
  13. purchased/constructed.
  14. Allotment letter from the co-operative /association of apartment owner/private builder/Public agencies etc.
B) Power of attorney as per HUDCO draft.
C) Requirement of Reserve Bank of India (RBI)
In addition to conditions applicable to NRI’s as per RBI guidelines, following are also to be kept in view by the applicants :-
  1. The flat/house will be used for self occupation by the non-resident on return to India and not for any other purpose.
  2. The sale proceed of the flat/house acquired with assistance of borrowed fund will not be allowed to be repatriated at any time in future.

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