THE CHANDIGARH Housing Board has decided to allow allottees to mortgage their residential and commercial properties for obtaining loans from banks. Earlier, the allottees were not allowed to mortgage their properties.
CHB chairman Maninder Singh said that allottees of the dwelling units and commercial properties were facing extreme difficulty in raising loans — educational, medical and housing — against the properties allotted by the board despite having paid the full amount.
On the persistent demand of the general public, the CHB has decided to issue permissions for mortgage of residential and commercial properties subject to certain conditions.
There are nearly 64,000 CHB dwelling units spread across 15 sectors in the city, including sectors 38 (West), 29, 41, 40, 44, 43, 45, 47 and Modern Housing Complex.
Credits Indian Express