a) What is MyProfile funding Program?

A:  It’s a normal home or any loan process,borrowed from reputed banks, where anyone can applies a loan,     where a customer/consumer pays LOCK-IN-PERIOD for a definite time (example : 20 years) and start investing by giving earnest money , booking amount. Which is legally documented between Borrower,Banks, Builder etc. and borrower/buyer pays his/her EMI’s. (equally Monthly Installment) as prescribed by Bank (Principal + interest) rates for a desired time period & offered schemes ( by Reputed Builder) to borrower., under options: Construction Link , Subvention Sceheme,100% Payment.

Here’s EGS offers Secured Personal loan upto 110 lakhs (Non refundable-optional)  with a Recurring Lock –in- period of 24 months (or 2 years)., under Subvention scheme (i.e. NO EMI till possession) and may get remuneration upto 5% of Total Value disbursed amount from Reputed Bank of your valued (borrower) profile.

b) What if a builder runs away & takes off my money ?

A:  No, The Builder (or borrower) cannot run way since till the time, his

company pays off the Debts or loan   amount of consumer / Banks, as his expected Assets > Liabilities (as per Case Study of M/s. Jaypee      Infrastructures Limited)., which in turn Builder’s or borrower’s hits the CIBIL SCORE.

II) Any Builder , who wants to do a Real estate Long term business , It is mandatory his company to be registered with (Real Estate Regulation and Development (RERA) act , 2016 by registering of approx. 25 lakhs + 18% GST ., (with Court benches to protect interest of home buyers (Financial Creditors). However, after paying all dues of Bank , No Objection Certificate [NOC] will be issued by either from bank to borrower (you), Builder or bank  {as per the agreement of Builder, Buyer, Bank [BBB]} .

(iii) Government of India implemented prevented laws , (Examples:  Shri Nirav Modi , Shri Vijay Mallaya] , so that either or ANYONE or  builder cannot runs away,as per The Fugitive Economic Offenders Bill, 2018 was passed by a voice vote in the Rajya Sabha 25-07-2018. The Lok Sabha had cleared this Bill on July 19 (Source : http://bit.ly/2HLDHeJ and http://bit.ly/2HLedOx ).

In the worst event(He runs away) ,  For compensation,, EGS will reports by raising a compensation Invoice on behalf of Borrower/Builder –  first to Builder, NCLT (National Company Law Appelllate Tribunal),Chamber of Indian Micro ,Small and Medium Enterprises). Ministry of MSME , Honourable Court of Noida/Delhi,Prime Minister’s office or any concerned department to bring back the Cheated Builder by applying for Seize their assets.

(iv) The original papers or possession of  property is  lien with Reputed Bank,  till  dues are cleared by the borrower/builder to bank and without NOC of bank or builder, borrower or builder cannot either sell /resell /transfer /buy back the property to self or other person.

E.&.O.E.

*Conditions Apply

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