How to get 90% Home Loan for purchasing Bungalow

[Srikanta Kundu]

Hi,
I am salaried person, planning to purchase a new under construction bungalow worth Rs. 100 Lac (1 Cr.). I have a capital of Rs. 10 Lac only, need home loan for balance amount which is Rs. 90 Lac but as per govt. norms bank will sanction only 75 to 80% of total value which is 75 lacs maximum.

Is there any option to get loan of 90 lac mean (90%) or any other option to get the amount. Please guide.

 

[ahesartamboli]

similar example for me as well , instead of depending on the loan amt they will check Ready reckoner rate of that property and provide you 90% or 100% of Ready reckoner rate which also proportional abt good cibil.. I included my wife name as well to increase trust( &tax benefits)

Feel free to ask if you have any other questions

 

[Kalyan]

Hi,
I am salaried person, planning to purchase a new under construction bungalow worth Rs. 100 Lac (1 Cr.). I have a capital of Rs. 10 Lac only, need home loan for balance amount which is Rs. 90 Lac but as per govt. norms bank will sanction only 75 to 80% of total value which is 75 lacs maximum.

Is there any option to get loan of 90 lac mean (90%) or any other option to get the amount. Please guide.

It's true banks fund only 75% of the market value,but incase with some amenities and car parking if the bank values the bunglow for 1.25cr and your sale deed value is for 1cr then you might end up getting 90 lacs loan.