Interested in property investments in India - Indian Real Estate Forum

vaddy · 29-01-07

I am in usa and an NRI. I want to invest in india in proerty. How do i get loan from usa banks for investment in Indian property. What are legal aspects of it?

dewakar · 29-01-07

If you want the loan in the USA, it has to be a signature loan. That means a loan done on the basis of your credit only, and not on collateral (security).
Dual citizenship will not help you. As per my information, this is considered illegal for any bank or any private investor in the United States to give a loan based on collateral physically located in some other country.

manpreet · 29-01-07

vaddy, I think diwaker is right. bt signature loans will cost very high. And the loan amount one may need for a home loan may probably not be fulfilled by such unsecure loans. What I would reccomend you is to consult a finance adviser

29-01-07	#1
vaddy New Member Join Date: Jan 2007 Posts: 12 Thanks: 0 Thanked 0 Times in 0 Posts	Interested in property investments in India I am in usa and an NRI. I want to invest in india in proerty. How do i get loan from usa banks for investment in Indian property. What are legal aspects of it?

29-01-07	#2
dewakar Member Join Date: Oct 2006 Posts: 73 Thanks: 0 Thanked 0 Times in 0 Posts	has to be a signature loan... If you want the loan in the USA, it has to be a signature loan. That means a loan done on the basis of your credit only, and not on collateral (security). Dual citizenship will not help you. As per my information, this is considered illegal for any bank or any private investor in the United States to give a loan based on collateral physically located in some other country.

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29-01-07	#3
manpreet New Member Join Date: Oct 2006 Posts: 29 Thanks: 0 Thanked 0 Times in 0 Posts	vaddy, I think diwaker is right. bt signature loans will cost very high. And the loan amount one may need for a home loan may probably not be fulfilled by such unsecure loans. What I would reccomend you is to consult a finance adviser