Luckydove, HDFC or any other bank has details of upcoming projects who have been pre approved by them for loan purposes. it means there will not be lot of hassles to get a loan for that project from that bank. hope this info is useful.....
Hi all, Great discussions about the real estate, As my dad is in real estate business in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-comffice:smarttags" /><st1:City><st1lace>Bangalore</st1lace></st1:City> for past 30 years. I have seen how the prices skyrocketed in recent years, I have seen him selling plot for 3000rs 15yrs back, same is costing 25 lacs now...just can't imagine when the bubble is going to burst. Luckily in 2004 my parents visited to US when my second kid was born and advised us to invest some money in real estate. My husband was very reluctant at that time as he was planning to do new business. I convinced him to invest and we bought 2 acres of land near new air port in b'lore..Now it has gone up so much…can't believe if it could go up so...much! Tulasi
Hi tulasi, Congrats on your investment. yeah me to am keeping fingers crossed on the bubble...i would really wish that there comes a stability after correction..but again i also pray not many people get their fingers burned....
Thank you Shanthi, I don't know in Chennai, In b'lore there is already correction happend in some areas..some areas they are really holding the prices well..My dad was telling all his plots are selling with high emand.. Unless they bought in hyped up areas with lot of money people are not going to loose if they keep it for long term i think... Tulasi
Dear Shanthi and other iLs, Husband and me went through the thread, started looking property plus and noted a couple of links. We pondered on next thing, Loans ! Fixed or Floating ? The information I know about it is that, one should take fixed when rates are low and floating when they are high. Now there might be so many complications in this matter. I mean a fixed might almost touch floating, with some tricky clauses. Isnt it true that HSBC, demands 20% down payment after which there is 10 to 20 yrs of loan based on which one starts paying EMI ? indianrealestateforum.com is one site where there is some discussion happening. I am not sure how good it is.. I ll check out and let iLs know. Will you throw some light on it. Others add your points too. Let s have a lively discussion..
hi vidya, When it comes to loans, the confusion again is fixed or floating.... Yes...most of the banks request you to pay 15 to 20 per cent downpayment. if there is a understanding between the builder and the bank you may get 90% loan amount....and also keep in mind the pre-emi interest...that you have to pay until the project is completed and handed over.... India Property Loans. Cheap home loans, NRI loans, home finance India, property loans, housing finance,Mumbai, Delhi, Pune, Bangalore, Chennai,Hyderabad,Kolkata,loan,refinance,EMI,calculator,interest rate,application form. discusses..loans offered by banks and also there is a emi calculator... Regarding fixed or floating.... ApnaLoan: Fixed or Floating Rate for a Home Loan The prepayment penality is zero in most banks when you are taking floating.... Which ever you take...read the nice prints.(tricky clauses as you put ..)....
Let me add another site to read about this.. I found the information in rediff understandable. Home loans: Fixed or floating rate? You rock Shanthi as always :2thumbsup: So many people including me will be thankful to you... Love Vidya
hi vidya, you are welcome... Not only homeloans...rediff/getahead has lot of very informative/useful articles on investments and savings...go through them they are easy to understand and very informative..:2thumbsup:
Shanthi and other ILs, My husband and me were going through a property plus to see the interest rates. Canara Bank seems to have lowest of all. What shoudl one consider while choosing to apply loan from bank. @People who stay in the US - Given that, I may not stay in US too long( or rather I am unsure) , how wise it is to get loan here, if I have a good credit score ? Shanthi, will you please tell me what s this taxpayer identification number ? How does one get that ? Thanks in advance
Hi vidya, I am posting a link again from rediff regarding what should one look when choosing to apply for loan as an nri...we have some additional documentation...power of attorney and other things also... How to get a home loan, easily Regarding US...i think you could ask shobanag...why dont you post it in the money matters column about this.... I am not aware of the us finance scenario....:icon_frown:
