Q:Hi, I am planning on purchasing a flat in a society that is scheduled for redevelopment in the next 6 months - 1 year. I would be availing a home loan from SBI to fund the purchase. Would the redevelopment impact the loan agreement that I have with the bank? If yes, what is the impact and what can I do to mitigate any risk.
Latest Answer: For that you have to make the agreement first and check whether there is any such clause that have mentioned the possession after redevelopment work. If there is no such clause and redevelopment work takes 2-3 years, in this situation you can not do anything. Ask the builder to give u in written that you will get your property after redevelopment.
Latest Answer: Pre GST period, the Service Tax was 14.5 percent which has been replaced with GST at 18 percent. the impact of GST (goods and service tax) on home loans, but this is applicable only to the ready to move in homes. THe things will go differently when it comes to a home under construction.For more call (080) 4090 9654
Latest Answer: Hi Sachin,
We are delighted to know about your interest in buying a property. Our property “La Montana” is located at “Talegaon, Near Pune”. If you wish to know more about the project, please share your contact details so that our team can get in touch with you.
Regards,
Team Tata Housing
Q:Hi, recently I have booked under-construct Villa project and taken home loan, but I am confused which option should I opt for EMI? Which one is better Pre-EMI or Full EMI?
Latest Answer: Hi, I opted for a full EMI for my house loan with SBI. I was supposed to get the possession in an year's time. But now I see the builder is delaying the project and it may be 3-4 years until possession. In the meanwhile it's going to be a problem for me to be paying both house rent and EMIs as well as for my child's education starting next year. Is it possible to switch from full EMI to pre EMI now? I have already been paying the full EMI for the past one year and the bank has disbused about 10 lakh so far.
Latest Answer: Hi Sunil,
100% loans result in higher interest costs, the price you’ll pay over the life of your loan -- because you’re paying interest on 100% of the purchase price. What’s more, second mortgages generally have higher interest rates than first mortgages, so you’re paying a premium to borrow the extra 20%.
Latest Answer: Hi Priyadarshini,
Came to know that they are quoting Rs. 93 lakhs for 3 BHK. Also heard that the completion of the project will be around Aug 2015 tentatively. 20% of the amount has to be paid at time of booking and balance at the time of completion of the project.
Q:I want to know when should i will get the revised demand letter to disburse the loan due to revised plan of the building and want to know the progress of the A4 Building which is at Hinje Wadi, Pune.??