Sharath

Hi all,

I am planning to buy a house (min 2BHK) in NCR region. This is the first time i would be investing in real estate and hence i require your valuable suggestions.

I want to buy the entire property in white. Firstly, is this possible ? I have been sharing this with few people and most of them said it is not possible. I believe booking for new property under proposal will all be in white. But i am actively looking for a second hand house.

Also, i would like to know how a bank does its due deligence in approving the loan. If the property costs me 60 lacs and the bank gives maximum of 90%, this comes to around 54 lacs ? Does the bank approve this entire loan (assuming that the salary bracket of mine and my wife's combined is reasonably good).

Is it possible that the bank evaluates the property to a lesser value that what the seller is selling it for and approves only that amount?

If suppose i buy a house and in 2 years due to some unavoidable circumstances want to sell it, what is the process as i still am under the loan.

Some question might be very stupid, but please bear with me.

Thanks for your information.

Sharath

wiseman

Shirish,

Not my rules. But this forum explicitly forbids soliciting for RE business.

Also just a word of caution. The RE business is a real dirty business. Especially when it tends towards trying to sell land in remote areas by converting agricultural land during bullish times. The dirtiness comes out of scam operators trying to con people into buying illiquid property of doubtful antecedents to gullible people who get left in the lurch later on.

The real problem for you would be ... when the scamsters have taken the money and gone on to other scams, you will be left to face your family and friends who will act as though you were the scamster!

Beware and take care. Keep RE "business" as a hobby.

None of my business, but maybe you might want to put your IIT profile (which still has a premium due to the good work put in by other IIT-ians in genuine, worthwhile business) to more appropriate use in building a decent CV with some good MNCs (like the investment bank you are with currently) for a few years before going into business?

cheers

sij_iitb

Thanks "wiseman" for your advice. Also I apologize for the tone of my previous thread. Its a learning phase for me too in this field. Can I get some contact information of yours, I would like to have a talk wih you.