Delay in completing the mortgage formalities in CGEWHO’s Greater Noida [Ph-l] Project in UP

Delay in completing the mortgage formalities in CGEWHO’s Greater Noida [Ph-l] Project in UP

Central Government Employees Weliare Housing Organization
6th Floor, ‘A’ Wing. Janpath Bhawan New Delhi-170 001

Web-Publication

No.A-504/II [XI]

18/07/2022

To,

All lending Bank(s)/Financial Institution(s) which had provided housing loan in CGEWHO’S Greater Noida (Phase-1) Project to individual beneficiary or allottee.

Subject : Delay in completing the mortgage formalities in CGEWHO’s Greater Noida [Ph-l] Project in UP

Sir/Madam,

This has reference to the above subject matter and notice issued by lending bank(s)/financial institution(s), of housing loan to the borrower(s) and beneficiary of CGEWHO’s Greater Noida Project, for submission of the original title deed in order to complete the mortgage formalities.

2. UP-RERA has invoked force majeure clause due to outbreak of Covid-19 pandemic; a calamity caused by nature and adversely affecting regular development of real estate projects all over country. Since force majeure clause has been invoked by UP-RERA, it is requested that all such financial institutions/banks may NOT charge any penal interest because the delay is not attributable to the individual beneficiary; but due to Covid-19 pandemic.

3. Till the mortgage formality is done by the allottee. lending institution’s lien has been noted and marked in the record of CGEWHO On completion of execution and registration of sub-lease deed, original deed will be forwarded to the lending Financial institution(s) or Banks by CGEWHO.

4. This clarification letter is issued on the request of allottees who have availed housing loan(s).

5. This is issued with the approval of CEO/CGEWHO.

Yours faithfully

M K Malty
Dy Dir (Admn)
For Chief Executive Officer

Source: https://cgewho.in/PDF2022/GN%20bank%20int.pdf