- This topic has 6 replies, 3 voices, and was last updated 1 year, 1 month ago by
.
Viewing 2 reply threads
-
Posts
-
-
PHi all,
I’m planning to buy a property in Delhi worth ₹65 lakhs. I have ₹25 lakhs for the downpayment and need a loan for the rest. The issue is: the property doesn’t have an approved map, so government banks likely won’t sanction a loan.Has anyone faced a similar situation? Any suggestions on how to get a home loan at a reasonable interest rate in such cases? Also, if you know a reliable agent or private lender in Delhi who can help, please share.
Most importantly, I want to ensure that the property is safe and legally secure for the future.
Thanks in advance!
-
RWhy are you thinking to buy a Property whose map is not even approved? Just to let you know that entire construction could take easily 7-8 years if the builder is half as competent which he would have been told you he was. High risk low reward imo
-
PThe mentioned property is a 4 floor flat in East Delhi, and I want to purchase 3rd floor of that flat.
-
RThen the scenario is not as bad as I thought it was. Still I’d say to make the seller know that you are very very concerned about the non approval of Map part, use it to your advantage to reduce price. Also try some NBFCs instead of banks which maybe can give you loan and even help you with legal procedures. But in the end the building can be declared unauthorized any day, so you should be ready to pay fines and to feed them if you have to, worst case is the building will get demolished but that’s unlikely. At this point you should really ask for 20-30% discount from market rate atleast
-
-
-
-
SI live in east delhi too.
Can you explain what kind of peoperty it is and which area?
If it’s laxmi nagar and some shahdra areas it would be difficult for you to get a loan -
-
Viewing 2 reply threads