Q.1056 Property Registration,

Aadhaar card & bank loans for

women

Question: Hi, I am an Indian but resident in UK right now. I would like to purchase a flat in Tirupathi, Andhra Pradesh, India. I want to apply for bank loan from India and would like to register the house on my Mother's name. I am female and married. May I know if I can get it registered on my Mother's name even though the loan is taken on my name as I hear someone saying that a female (married) cannot get it registered on her Mother's name. And also, is Aadhar card mandatory for applying bank loan and for property registration as well? I have all the documents but no Aadhar card and I have no chance coming to India in near future to get Aadhar card. May I know if there any other clauses or exceptions that can help me move forward even though there is no Aadhar card. I will be very much delighted if I could get answers to my questions above. Thanks in advance :) Regards, Shalini. Answer: I doubt if banks in India will give you a housing loan and allow you to register the house [flat] in your mother’s name. My understanding is that in India, where women apply for a housing loan the banks usually require a guarantor, such as a close relative. They may also want the guarantor to be a made a co-owner of the property for which the loan is being applied for. Seems a bit ironic as women are offered a slightly lower interest rate on loans but getting a loan is not easy for women unless they have a guarantor! The only way that I think you can get the property registered in your mother’s name is to avoid taking a loan on the property. Pay for the property and register it to any name you like. Perhaps the best method to find out what your options are is to contact the bank personnel and get their input in how to proceed to secure a housing loan. Each bank will have their own criteria and rules do change as we move forward Aadhaar is mandatory but non-residents and foreigners may be exempt from quoting Aadhaar. This is because Aadhaar is only for residents and non-residents are not eligible for Aadhaar. If you plan on getting flat registered in your mother’s name she will need Aadhaar.