sekharsoftware

Hi all,

I am very new to buying house and I want to be very careful when I am buying in Hyderabad. I would appreciate if someone can guide me in the following aspects: (Please answer as many as you can)

1) How to properly verify clear title of a flat/plot?
2) I am an NRI - What documents needed to get a home loan from the indian bank?
3) If I want to buy a house for eg: 50 Lakhs how much is advisable amount that I need to put from my pocket?
4) The interest rates are as high as 12% now. Should I go for fixed interest rate or floating one? Are there any chances of interest rates come down?
5) Lastly, what are the hot places in Hyd that i can buy a flat sothat, the price would go up in an year or couple of years?

Thanks in advance,
Raj

naveen2205

Hi Raj,

This is Naveen,

To check the legality of the docs either you can hire a lawyer or the safe way to go is to take a loan from a nationalised banks like SBI,SBH or Andhra Bank.I feel SBI is the best.

You have to produce your W2 form,6 months salary slips, 6 months Bank statements and 1year bank statement of your NRI account

As for as your loan amount is concerned it depends upon you.

Kondapur,Miyapur,KPHB,Jublee Hills,Gachibowli,Ameerpet,Sri Nagar Colony & S R Nagar are few hot places in Hyd where in you can get good returns and these areas have a high rental value

Regards

Naveen

udayan.giri

Although this is a old case... may be dead...... still for knowledge...........

Loan from SBI will be the best option. This is a bank which really does its due-dilligence before sanctioning any project. I really appreciate Navin's views.

Regards

Udayan

ks2071746

Dear friend,

I also agree. I have had dealings with Canara Bank, HDFC and ICICI and have talked to SBI on house loan. SBI is the best to bank on house loans.

ks2071746

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mcherupally

IDBI Bank is also better for availing Housing Loan. There is a flexibility to save considerable amount on registration charges. Door services are also available in submission of papers for speedy processing of loans.

ajaysanghani

Hi, yes SBI is the bank to go for loan because I got a home loan from them and it’s really easy and hassle free. And one more thing your builder or real estate developer should be co-operative. I got a home in SMR Holdings and believe me they help me lot to buy this house.