Hi

We have taken home loan from UTI long back and presently because of economic recession we have decided to call off the loan disbursement to the real estate guy.

So what are the rules and regulations to apply for cancellation of home loan.

Regards,
Srinivasan from Bangalore.
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  • loan call off

    Originally Posted by srinivasan2009
    Hi

    We have taken home loan from UTI long back and presently because of economic recession we have decided to call off the loan disbursement to the real estate guy.

    So what are the rules and regulations to apply for cancellation of home loan.

    Regards,
    Srinivasan from Bangalore.


    You should talk to the lendor UTI on this. There may be some cancellation charges. You may have to talk to the real estate guy also if you have already made some part payment to him and on how to get back maximum from him.

    ks2071746
    CommentQuote
  • Originally Posted by srinivasan2009
    Hi

    We have taken home loan from UTI long back and presently because of economic recession we have decided to call off the loan disbursement to the real estate guy.

    So what are the rules and regulations to apply for cancellation of home loan.

    Regards,
    Srinivasan from Bangalore.


    In this recession time no one should take loan to buy any thing. Prices are also falling
    CommentQuote
  • Originally Posted by Nataraajg007
    In this recession time no one should take loan to buy any thing. Prices are also falling


    I do not disagree with your comment.

    ks2071746
    CommentQuote
  • Friends

    Look at the inflation rate.

    It is also coming down.

    I am getting calls from the broker who was mediator in purchasing a land at thirunindravur. He is telling reduced rates for the plots he quoted high earlier.

    He is quoting 25% lesser rates

    thanks

    chataara
    CommentQuote
  • Originally Posted by chataara
    Friends

    Look at the inflation rate.

    It is also coming down.

    I am getting calls from the broker who was mediator in purchasing a land at thirunindravur. He is telling reduced rates for the plots he quoted high earlier.

    He is quoting 25% lesser rates

    thanks

    chataara


    Yes, 25% less is now adays common. It will go to even 30 to 40% soon as recession engulfs India as well in this year
    CommentQuote
  • Originally Posted by chataara
    Friends

    Look at the inflation rate.

    It is also coming down.

    I am getting calls from the broker who was mediator in purchasing a land at thirunindravur. He is telling reduced rates for the plots he quoted high earlier.

    He is quoting 25% lesser rates

    thanks

    chataara


    chataara we have had many posts regd land at far off places which are bound to fall they migth even fall more. but you should bear one thing in mind.at any location the rate of a resale plot is always lesser by 20% compared to the new promoter sold plots in the same location.
    i have myself transacted plots in permattanallur(near guduvancherry) for 370/sq ft when wisdom and ACME were selling at 500+/sq ft. at the same time
    CommentQuote
  • Originally Posted by abk
    chataara we have had many posts regd land at far off places which are bound to fall they migth even fall more. but you should bear one thing in mind.at any location the rate of a resale plot is always lesser by 20% compared to the new promoter sold plots in the same location.
    i have myself transacted plots in permattanallur(near guduvancherry) for 370/sq ft when wisdom and ACME were selling at 500+/sq ft. at the same time


    Friend

    you are correct.

    I purchased a cmda appd plot at thirunindravur for Rs.100/sqft from a genuine seller, when real estate people sold at Rs.200/ sqft.

    Within 1 year same plot (which I bought) went as high as Rs.400/sft.
    but now it has come down to Rs.300/sft.

    thanks

    chataara
    CommentQuote
  • Originally Posted by chataara
    Within 1 year same plot (which I bought) went as high as Rs.400/sft.


    Price went up... Based on what ? Speculation ?

    There is still too much speculation and still lot of people trying to hold on to the prices. The layoffs have not yet began and neither are the bank repossessions. Then you will really see the prices go down.
    CommentQuote
  • yes, ofcourse.

    my plot rate went high because of just speculation only.
    I dont see any development over there in the last 2 years.
    It remains just as it was 2 years before.
    In tha vast lay out, I am able to see just fencings in one or two plots. thats all.
    I hope it will come down still further below rs.200 /sft.
    But i dont worry to see this rate going down.
    this is what it worths actually

    thank you

    chataara
    CommentQuote
  • Originally Posted by chataara
    yes, ofcourse.

    my plot rate went high because of just speculation only.
    I dont see any development over there in the last 2 years.
    It remains just as it was 2 years before.
    In tha vast lay out, I am able to see just fencings in one or two plots. thats all.
    I hope it will come down still further below rs.200 /sft.
    But i dont worry to see this rate going down.
    this is what it worths actually

    thank you

    chataara


    Dear chataara,

    You seem to be more practical/frank in your thinking/views even in the case of the plot you bought?

    ks2071746
    CommentQuote
  • Originally Posted by chataara
    yes, ofcourse.

    my plot rate went high because of just speculation only.
    I dont see any development over there in the last 2 years.
    It remains just as it was 2 years before.
    In tha vast lay out, I am able to see just fencings in one or two plots. thats all.

    chataara


    And this hype was only created by the Local RE agent. I remember the Tortoise/rabbit story now.
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