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
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  • New flat buyer - guidance?

    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
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  • 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
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  • Originally Posted by 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


    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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  • IDBI Bank

    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.

    Originally Posted by 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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  • 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.
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