Reverse Mortgage a Project Report On

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

CHETANA’S H. S. COLLAGE OF COMMERCE & ECONOMICS AND KUSUMTAI CHAUDHARI COLLEGE OF ARTS BANDRA (EAST), MUMBAI – 400 051

CERTIFICATE

I, PROF. GANESH BHOSALE hereby certify that Mr. Prathmesh B. Gawde, Roll No. 12A111 of M.com. Semester- I of Chetana’s 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

_______________________ Co-ordinator

_____________________ External Guide

____________________ Principal

DECLARATION

I, Prathmesh B. Gawde, student of Master of Commerce (M.Com) in Accountancy Group Semester I Chetana’s 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

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.

INDEX

Sr. no. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14.

Tital Chapter - I INTRODUCTION Reverse Mortgage in India Guidelines for Property Acquisition by Non-Resident Indian (NRI) Reverse Mortgage Pros and Cons How Reverse Mortgage Works Chapter - II Here is how it works Different Reverse Mortgage Offerings in India Chapter - III Compilaton of data collected Chapter - IV conclusion suggetion

Page no. 1 1 17 19 20 21 21 22 35 35 36 36 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.

2. The second chapter is about the Here is how it works, Different Reverse Mortgage Offerings in India. 3. The third chapter describes about Compilaton of data collected . 4. The final chapter represent the suggetion & conclusion.