Regulatory Alerts2013-04-17
Added · Updated
BRPD Circular No. 02: Financing in private land development projects approved under Private Housing Project Land Development Rule 2004 and projects approved under Local Government (Paurashava) Act 2009
The document prohibits scheduled banks from providing loans for land development, construction, or flat purchases in private residential projects lacking statutory authority approval. It mandates that financing for approved projects must strictly adhere to the Private Housing Project Land Development Rule 2004, including physical verification of fund usage. Additionally, banks are required to obtain Paurashava approval under Section 50(1)(g) of the Local Government (Paurashava) Act 2009 for infrastructure development or construction projects by all government, autonomous, and private institutions before disbursing funds.
More like this from BB
BB published 33 documents in the last 30 days. We email you each new one the day it's published.