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IREF® - Indian Real Estate Forum > Real Estate Open House > Home Loans in India > Doubt:regarding loan
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Old August 25 2012, 05:25 PM   #1
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Default Doubt:regarding loan

Assume I book a property of 50lacs..
Home loan:20 lacs
15% Builder downpayment+VAT+Tax: 12lacs

So, for the remaining 18lac amount which I should be paying to the builder partly as per slab construction, is it possible that I start the loan amount (20lacs) first and after the bank pays all the money to the builder, later I can pay the remaining amount (which is 18lacs)...Can i do that??

Is it possible to rearrange the money as above??
Finally the money which builder is going to get is the same, which I & the bank is going to pay is also the same, just the bank would pay first and then I would pay the rest.

 
Old August 25 2012, 05:42 PM   #2
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the answer is no, that does not happen. Either you will pay first and bank will pay later. Or when a demand comes from builder, bank and you will pay together...percentage wise.
 
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