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A PROJECT REPORT ON

REVERSE MORTGAGE

SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR

MASTER OF COMMERCE (M.COM)

ACCOUNTANCY GROUP

SEMESTER I

IN ADVANCE FINANCIAL ACCOUNTING

TO

UNIVERSITY OF MUMBAI

BY

PRATHMESH B. GAWDE

ROLL NO. 12A111

2012-2013

UNDER THE GUIDANCE OF

PROF. GANESH BHOSALE

CHETANAS

H. S. COLLAGE OF COMMERCE & ECONOMICS

AND KUSUMTAI CHAUDHARI COLLEGE OF ARTS

BANDRA (EAST), MUMBAI 400 051

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CERTIFICATE

I, PROF. GANESH BHOSALE hereby certify that Mr. Prathmesh B. Gawde,

Roll No. 12A111 of M.com. Semester- I of Chetanas H. R. College of Commerce

and Economics, has successfully completed project on REVERSE MORTGAGE

in the subject ADVANCE FINANCIAL ACCOUNTING for the academic year

2012-2013.

______________________ _____________________

Internal Guide External Guide

_______________________ ____________________

Co-ordinator Principal

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DECLARATION

I, Prathmesh B. Gawde, student of Master of Commerce (M.Com) in

Accountancy Group Semester I Chetanas H. S. Collage of Commerce and

Economics, hereby declare that I have completed the project on REVERSE

MORTGAGE in the subject ADVANCE FINANCIAL ACCOUNTING for the

academic year 2012-2013.

___________________

Prathmesh B. Gawde

Roll No. 12A111

Date: 13th September, 2012

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ACKNOWLEDGEMENTS

I am happy to present this project to PROF. GANESH BHOSALE. I am grateful

that. PROF. GANESH BHOSALE gave me such an interesting project to do and

I have tried my best to succeed at it. I would like to thank all the people who

helped me: Mr. Nayan Garge, Mr. Amit Kamble, Ms. Shruti Sawant & my

friends. I would also like to thank my family members for their support.

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INDEX

Sr. no. Tital Page no.1. Chapter - I 1

2. INTRODUCTION 1

3. Reverse Mortgage in India

4. Guidelines for Property Acquisition by Non-Resident Indian

(NRI)

17

5. Reverse Mortgage Pros and Cons 19

6. How Reverse Mortgage Works 20

7. Chapter - II 21

8. Here is how it works 21

9. Different Reverse Mortgage Offerings in India 2210. C h a p t e r - III 35

11. C o m p i l a t o n o f d a t a c o l l e c t e d 35

12. Chapter - IV 36

13. conclusion 36

14. suggetion 37

CHAPTERIZATION SCHEME

1. The first chapter presents the introduction, Reverse Mortgage in India,

Guidelines for Property Acquisition by Non-Resident Indian (NRI), How Reverse

Mortgage Works, Reverse Mortgage Pros and Cons, How Reverse Mortgage Works.

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2. The second chapter is about the Here is how it works, Different Reverse

Mortgage Offerings in India.

3. The third chapter descr ibes about C o m p i l a t o n o f d a t a c o l l e c t e d .

4. The final chapter represent the suggetion & conclusion.