Re: Raise voice against Builders thru Janlokpal Bill
by Sekar on Jun 30, 2011 01:09 PM
Fantastic. Your name itself is snowwhite and your message is also like snowwhite. But this message should reach the concerned. Will it happen is a trillion dollar question?
Re: Make it simple
by Arnab Sur on Jun 30, 2011 01:03 PM
In that case one should have that much money in bank a/c to make the down payment. On the other hand one can reduce the loan amount by staggering / delaying the down payment.
Re: Re: Make it simple
by Murali J on Jun 30, 2011 01:19 PM
Banker will not take a chance of allowing you to pay your part at latter stage. He would make sure that you fiancial position is sound enough and you should be able to pay his loans. No banker would give loan with parallel payemnt by both bank and borrower
Re: Re: Re: Make it simple
by Arnab Sur on Jun 30, 2011 04:20 PM
The whole article is written on the basis of parallel payment by both Bank and the Borrower. Please look at the end a chart is also given to explain how it is to be done. You may also call the bank to clarify in details.
I have called HDFC bank Home Loan Section and they have confirmed that parallel payment with each installment is in practice.
Re: Re: Re: Re: Make it simple
by mallik on Jun 30, 2011 06:38 PM
Parallel payment means for the cons stage1 depicted here . It would be like 5lkahs 3 lakhs from bank 2 lakhs my share.
In fact bankers would take receipt from the builder for having paid the margin money for the differential value tobe paid by the borrower. There after they start releasing the loan sanctioned amount.
Re: Excellent
by Arnab Sur on Jun 30, 2011 12:56 PM
Really very nicely written ..... but just one thing to point out ..... the margin percentage is 15-20% instead of 40%.
Re: Which bank is Good
by spenta on Jun 30, 2011 12:44 PM
go to DB reality , Lodha Builders , HDIL , Rustomjee all kingpins fush with underword money and ill gotten wealth
Re: Which bank is Good
by shivram adithya on Jun 30, 2011 12:59 PM
Each bank's loan product has its own advantages and disadvantage.
You need to select based on what is your priority. That depends how much money you can put from your pocket? Do you expect surplus cash during the tenor of the loan so that you can reduce your interest burden? Do you want faster processing or can you afford to wait for sometime?
For lower processing fee: HSBC is the best.
For a loan which works like OD: HSBC is the best.
Processing speed: HSBC & HDFC are good and SBI is pathetic.
If you want higher loan for the same market value of the property: HDFC is the best.
floating Interest rate: SBI is the best on a long term basis.
For the same salary/income: HSBC & HDFC gives higher loan amount but SBI gives lesser amount.
Re: Re: Which bank is Good
by sachin bhutada on Jun 30, 2011 01:21 PM
If dont want document hassles,go to ICICI. I got a home loan based on 6 months industry experience.3 salary slips.I didnt even have a Form16/IT return. only 3 salary slips and confirmation letter was required.Thats in 2006.
