But like everything else, recession has hit home and personal loan policies of all banks. Things are better for government servants but not for those in the private sector. In fact, a bank official says there are verbal orders asking banking officials 
not to sanction new loans if the loan seeker and guaranteer are both not in government service, and failure to pay up means the house would be have to be returned to the Mhada.
The situation worsened ever since Mhada came out with its Malvani offer. Thirty per cent of those who have won the lottery and have been allotted homes haven’t got their loans cleared, confided a Mhada official. Meanwhile, the builders have earned mega profits by exploiting customers, as the per square-foot rate put up by Mhada is 40 per cent less than the one offered by builders. Apparently, more than half of the profit margin goes to politicians and government offcials.
The recent mega scandal that has rocked Delhi Development Authority has shaken Mhada. And not taking any chances, Mhada is taking precautions by upgrading its lottery system.....Continue
not to sanction new loans if the loan seeker and guaranteer are both not in government service, and failure to pay up means the house would be have to be returned to the Mhada.The situation worsened ever since Mhada came out with its Malvani offer. Thirty per cent of those who have won the lottery and have been allotted homes haven’t got their loans cleared, confided a Mhada official. Meanwhile, the builders have earned mega profits by exploiting customers, as the per square-foot rate put up by Mhada is 40 per cent less than the one offered by builders. Apparently, more than half of the profit margin goes to politicians and government offcials.
The recent mega scandal that has rocked Delhi Development Authority has shaken Mhada. And not taking any chances, Mhada is taking precautions by upgrading its lottery system.....Continue
