Loans against Equity - Indian Real Estate Forum

konicka · 07-02-07

I own a property and was wondering if I can get a laon against the equity ( market value) of the property to re-invest in another ? Any information on this is appreciated.

Thanks.
Regards.

Konicka

Pinnacle · 07-02-07

You can get a loan of upto 70% of the market value if its residential and upto 60% of Market value if its a commercial property.

Tenure can be max 15 yrs depending on the bldg condition and the age of the applicant. Before the recent hike in interest rate, the rate for loan agains property was in the region of 11 - 12.5%

ICICI Bank and UTI bank are 2 institutions that i know of, offer this product

However there are no tax sops available on the interest paid by you

Let me know if you need any more info
Ram

07-02-07	#1
konicka New Member Join Date: Dec 2006 Posts: 2 Thanks: 0 Thanked 0 Times in 0 Posts	Loans against Equity I own a property and was wondering if I can get a laon against the equity ( market value) of the property to re-invest in another ? Any information on this is appreciated. Thanks. Regards. Konicka

07-02-07	#2
Pinnacle Member Join Date: Nov 2006 Location: Mumbai, India Posts: 260 My Mood: Thanks: 0 Thanked 3 Times in 3 Posts	Loan against property You can get a loan of upto 70% of the market value if its residential and upto 60% of Market value if its a commercial property. Tenure can be max 15 yrs depending on the bldg condition and the age of the applicant. Before the recent hike in interest rate, the rate for loan agains property was in the region of 11 - 12.5% ICICI Bank and UTI bank are 2 institutions that i know of, offer this product However there are no tax sops available on the interest paid by you Let me know if you need any more info Ram

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