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SBI Home loan for 39 year old flat - is it possible??

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SBI Home loan for 39 year old flat - is it possible??

Last updated: April 1 2012
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  • SBI Home loan for 39 year old flat - is it possible??

    I am toying with the idea of buying a flat which is 39 years old in Mumbai. The building itself is in sound condition and is only 3 storeys high. However I will need atleast 1 Crore in loan. Has anyone managed to get a loan on a flat that old ? I am looking to buy for end use and will definitely keep it for 10 years.

    I plan to apply for SBI loan (maxgain). Just wondered whether this is worth pursuing. Do you think SBI will ever sanction a loan for 39 year old building?
Have any questions or thoughts about this?
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