Each bank has their own rules and regulations. So it is better to check with the bank about the list of documents you are required to submit.

What is the loan tenure?

The lower repo rate should bring down banks borrowing costs and in turn, forcing them to slash lending rates to borrowers.

So you mean to say that lower the repo rate our interst rate will also come down?

According to the loan, the monthly installments are calculated to pay off both interest and principal each month, so that over a specified time period, the loan is paid off in full.

There are several types of loans where lender creates a periodic payment table for the borrower, generally over the course of several years with the goal of retiring the loan.

Equated Monthly Installment or EMI can be defined as a fixed payment amount levied by a lender from a borrower at a specified date of each calendar month.

Pre EMI is a part of the EMI which is defined as simple interest that one pays on the loan amount till the EMIs start.

I think you should have a talk with the builder as well as the the bank manager you have taken loan from.

Yes you can, i think you change ECS account at any point of time, this should not be the problem.

Yes definitely.. firstly you should have clear documents related to the property. Only then the bank will verify everything and give you loan. And if you got loan approved, then you can claim it for tax benefits.

Hi Karan, usually the banks dont give loan for buying land alone, request for a loan that includes funds for construction also. At first they will give only land amount and then ask banks to hold the construction amount disbursement. Pay regular EMIs and try to clear the loan within given time, so that u can take next loan for construction.

Hello Diwakar...it is like most of the banks demand for 2-3 yr experience and too with work experience proof also like such as Form 16, PF deduction etc. Your loan applicant will not be accepted if your work eperience is less than 3 yrs.

Hi i am scared if my name is in CBIL list...as i have one defaulted a mobile bill payment..please help..

i thin you should wait for some time untill the notification of these proposals by Govt. of india after the budget is passed in parliament. If the things pan out as per your understanding, if this helps you i will be happy

but i came across that it will be applicable only for loans sanctioned after Ist April 2013 :(Can you comment on the method of tax calculation in my above post. am i right?

Hi all..i totally support this step of TDS. The best part is that it will be charged on gross transaction (not net gains), it will highly impact (cash inflow) sellers when sales are at loss or negligible. It is believed that is move will check speculations and decrease frequent transactions of property.

Few other things in Budget 2013 are surcharge charges and excise duty. The surcharge charges for companies earning profit beyond Rs 10 crore has been increased from 5 percent to 10 percent, which is discouraging. On the other hand, increase in excise duty on marble from 3o percent to 60 percent will also affect the cost of housing.

Bangalore real estate sector is recording healthy growth and competition among the developers are rising. Real estate developers, mainly from Mumbai are bringing in the concept of deferred payment to the city to attract home buyers.

The property buyers book apartments by paying a minimal amount of about Rs 2 to 5 lakhs and start paying the EMI only after they get the possession of their houses. The interest gathered in that period is absorbed by the developers.

Hi, i can suggest you that, do not invest everything in cash. The risk of investment increases and i would like to tell you that, it will be easy that if you take half bank loans and half cash

It is always better that , you do leas down payment as always paying as less as possible upfront as downpayment and instead invest in multiple apts. Also i would like to tel u that , take such EMI whic has longer tenure period

Hi, Mr Verma, i think you should go for loan for the plot first then take loan for building house. Because taking half half loan is easy and more compatible. Few Good banks you can have option are, HDFC and AXIS are good and you can trust the banks.

You should g for LIC, because , when you already have some investment it is always better to take loan from there rather than having a new tension in mind.

Hey guys, 0.25 % is not a big deal I think.. WIll it really make so much difference in all these things? It is of little help and not a big measure by RBI. Giving industry status to real estate sector would be of great help to the sector but government is not ready for this.

I agree with you Nikhil. But though RBI’s move is small, it is necessary towards the development of real estate in India. Such growth-oriented plans combined with the government’s fiscal measures are necessary for the industry development. Even in April 2012, the repo rate had been cut by 50 basis points. Experts are saying that more rate cuts would be done by RBI in future and it would allow cash crunched developers and other sectors to borrow at competitive rates.

The new buyer can raise a loan from hdfc which is easier to be processed, the existing loan will be closed by hdfc and the remaining amount will be paid to you on the day of property registration.

Pre emi is the simple interest that one pays on the loan amount. This is usually paid when you are taking possession of the home.

Hi Priya, yes it is attractive but I would suggest you to read the bluprint of the offer. You should also consult other bank officials and discuss with them about this ICICI offer, they will give you the downside of this offer if there is any.

Hi Anand, the bank had cut home loan rates by 0.50-0.85 per cent.. It is still applicable..

Hey guys.. Before the rate cuts were announced by SBI, around 400 home loan applications were being received by the bank in a day.. But now the bank is getting around 800 applications in a day.. See how effectively is their rate cuts idea working..

Dear Anish, The sale of flats in Trivandrum is still going on at a good pace. The actual numbers vary by location but most of the new launches across Kazhakootam, Mukkola etc. have already been more than 60% booked.

Hai, I tried investing on an apartment as my second home at Thiruvananthapuram. I got to know that with the increased home loan rates the flat sales have gone down drastically...and there is no traces of it picking up in near future.

Hi Ashuthosh, it is better to stay in rented houses than buying a flat on loan, if the expected EMI value exceeds 50% of the family's income.

Hi,HDFC is providing lone for this project.I heard that they r not giving billiards and table tenis facility now and they sold the space to someone.They have started to cheat whole residency..it's so ridiculous.

If you planning for Home Loan to buy Desire Residency Ghaziabad, you can contact the builder for knowing project approval and Banks providing Home Loan on the same. Thank you

The new law has made it mandatory that each project should be registered and approved by the Real Estate Regulatory Authority. The biggest problem arise from the delay from developers transferring money from one project to another but new law will handle the problem.

In this loan scheme, a loan borrower can make per-payment during fixed rate period also.

According to experts, due to the availability of affordable housing the demand for finance is also increasing. The loan borrowers are getting pressurized because of the hike in rate of interest.

Most banks do not look for a property insurance while disbursing home loan. However, your property will be a valuable insurance, so it is better to go for a property insurance. The home insurance rates are very affordable especially when bought for a long duration say 10 years. It would cost close to Rs. 50 per lakh of property value per year.

In a floating interest rate, you interest payment will vary according to the market lending rate. If interest rates rise your interest payments will rise and vice-versa. You bear the risk of interest fluctuations in the market. Floating rates are slightly cheaper than fixed interest rates.In a fixed interest rate, your interest rate is fixed over the entire tenure of loan.

settled methods you mark a contract at the rate offered now and it will never show signs of change. folks do this bc you never know if the rate will go up.. at the same time you might miss out if the rate goes down.. its a bet either way drifting methods your rate will run here and there with the business... ................. [url=http://moneyline.sg/]HOME LOANS[/url] .................

For monthly income of Rs 10, 000 to Rs. 14,999, you will get 40% of the income as loan. Similarly for Rs 15, 000 to Rs 19,999: 45%. For Rs 20,000 and above: 50% . It will be given as per your income and your capability of paying back.

It depends on your repaying capacity based on your income. If you are married then you can add your spouse’s income to increase the amount of loan.Please consult with the bank once.

Accountability varies from institution to institution and it is possible for a guarantor to opt out of their role as guarantor. Contact your legal expert to know more about becoming a guarantor or co-borrower. Do not become guarantor, if you cannot afford it.If the other party can´t repay the loan, you have to repay it yourself.

The closing home loan is that final step that means you are very close to having a home to call your own and your biggest liability is off your head. Following are some important process involved in closing home loan. Get in touch with your lending company and get details of penalty or outstanding amount. After the payment of all dues (Principal, interest and Penalty if any), No Due Certificate is issued by bank or lending company. Write a letter to the bank stating the facts and asking for the return of the original documents When you close the loan, you get back all the documents that you submit at the time of loan application. Process of Closing Home Loan