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Mr. Murali Krishna has over a decade of experience in providing consulting in the field of personal and corporate finance, particularly Loan Matters. Having worked with Loans Division of Multi National/Corporate Banks for several years, he has in depth knowledge and exposure with varied policies of different banks. He has been providing guidance and advisory on Home Loans, Mortgage Loans, NRI Home Loans, Take Over Loans, Project Finance, Business Loans, Over Draft Against Security etc to Individuals and Corporate as well. Also, for many years, he has been an invitee to the Traders and Chamber of Commerce meetings to advise the Business Community availing loans from banks and various financial lending institutions.

The propertyDirect.in is privileged to have him on the panel of experts to provide answers to the queries on Loan Matters to propertyDirect.in User/Member Community. Therefore, you are requested to use this opportunity to interact with Mr. Murali Krishna on any of topics related to Loans.

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Namaste sir,Sir i'm a student from nellore and i need a study loan for abroad.we are having 2 flats each 2376 sq.ft. costs one is around 9lakhs and other is around 3lakhs.What's my doubt is , Is this surity enough to draw a study abroad loan of atleast 7lakhs and tell me the corresponding interesting rate if it is State bank of india.considering government rate for the land ?????

Posted By : ThulasiPrasad Nov 18, 2010

hi i want to know abt the mortgage of my new flat(3yrs old) need a loan to purchase an old flat 15 yrs old and its on 5 th floor in hyderabad only the property is on my sisters name n she is NRI but i hv GPA plz advise me ,which bank shld i approach ,what are the proceedings waiting eagerly for ur reply

Posted By : amber Nov 15, 2010

I HAD A LAND IN GRAMPANCHAYAT AREA IN PUNE NEAR UNDRI - WADACHI WADI. NOW I WANT TO CONSTRUCT BUNGLOW & NEED OF FINANCE RS. 9.00LACS PL. INFORM THE INTREST RATE OF CONSTRUCTION LOAN IN DETAILS

Posted By : Omkar Shouche Nov 13, 2010

i want to bay a flat in second floor which is mortgaged to ghmc. Is there any disadvantage in buying this flat. can i get bank loan for this flat.

Posted By : Dr. . R. G. baligidad Nov 7, 2010

Hi, I have booked a flat in pune. The area comes under gram panchayat. 1st to 4th Floor are approved by Collector N.A. However 5th to 9th floor is currently getting approved by gram panchayat. My questions are 1. Will any nationalised bank give loan to me if i book flat on 5th floor which is not approved by Collector NA but approved by gram panchayat 2. When my area comes under corporation in 2-3 yrs time, then who will pay the guntewari demanded by corporation... will i have to pay it or the builder will share it?

Posted By : Sunit Chatterjee Nov 1, 2010

Dear Sir, I booked a flat of 1200000 cost in pune which is under gram panchayat the builder taken 200000 down paymnet and monthly instalments of rs 10000 in pdc cheques will there be any problem to me in case if i want to sell that flat after possession???

Posted By : sujatha Oct 28, 2010

hi I am Anusha. i want to purchage a plot which is under gram panchayiti limit and my salary is Rs.1.10000 per month. could you please suggest me which bank i can approach. And where i can get the maximum fund.

Posted By : Anusha Oct 19, 2010

Hi Sir, We have our father land 2400 sq ft in chennai and we are 4 brothers and 1 sis and my mom we have deceided to sell 1200 sq ft and i am in plan to get 1200 sq ft of it. But my purchase mainly depends on loan is there any legal difficulites if we try to purchase this using home loan i am really confuse can u help me on this Regards, Simon

Posted By : simon Oct 16, 2010

I need a housing loan but I have once defaulted. Can you tell me which bank or financier will provide the loan?

Posted By : Mahesh Oct 14, 2010

i would like to purchase a small car , kindly suggest which car is best ? what is the right time to purchase ( i,e festival offer or December year ending) 1. BETWEEN SANTRO GLS & I 10 WHICH ONE IS BEST- KINDLY SUGGEST

Posted By : B.SRINIVAS Oct 4, 2010

I want to buy a land in panchayat limit coming under bangalore city limit and wnts to construct house on this.So I want a composite loan for land purchase and construction on it. Is there any nationalised bank providing composite loan for lands in panchayat limit.Please guide me in this regard.

Posted By : Samita Sep 27, 2010

Dear Samita, Please approach nationalised banks with your loan proposal, before that I would suggest you to go for evaluation of the total cost and perhaps you incorporate land cost into the construction as well.I believe, Vijaya bank, Karnataka bank or even SBI grants loan in panchayat limits of Bangalore, provided the construction plan of flat/apartment is in G+1 or G+2. LIC Houising corporation also offers loan. All you need to do is to talk to the bank's panel evaluator to take the land cost into account while estimating the construction cost. Usually banks do give up to 70 to 75 % of total cost, depending the individual eligibity criteria. Thanks.

Answer by : Murali Krishna Oct 1, 2010

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Dear Sir, I am looking for Composite Loan(land purchasing + house) but the land is approved by Gram Punchayat.Can you please suggest the banks which are giving loans for Gram Pachayat Limits plots. Thanks In advance.

Posted By : Gautam Sep 20, 2010

Dear Gautam, Yes, you can apply for loan to both land and construction. However the construction plan should be clearly for G+1 or G+2 only. You can approach any near by nationalised bank for the loan in the locality.Ofcourse, the banks would take other aspects like your work location or and earnings etc before they sanction loan. Thanks

Answer by : Murali Krishna Oct 1, 2010

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I would like to purchase 2bhk flats in the grampanchayat area and I have loan amount min 5 lakh , I mortgage my flat any nationalised bank, so please suggest any chances to take home loan for low rate of interest

Posted By : Mrs. Hema Sep 16, 2010

Dear Hema, From your question it is not clear whether you want to mortagage already owned flats or you are going to purchase new flats. In any case, please note that all nationalised banks and LIC Housing corporation would grant loans to apartments/flats located in Gram Panchayat limits too. However, the rule is that flat should be in Ground floor or G+1 floors. You can approach any near by state bank branch or other banks for mortagage. Thanks

Answer by : Murali Krishna Oct 1, 2010

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I have taken 2bhk flat in Pune, For that I have taken home loan from HDFC housing finance I want to enquire what will happen in case I am not able to pay the loan ? Can you please provide me details on this, what are steps that bank take what should I do in such case.

Posted By : Dhananjay Sep 13, 2010

Dear Mr. Dhananjay, It is very simple, the bank will take possession of your house/flat and put for auction. You will get some money only when there is a surplus to what the bank is entitled to claim from the auction price. In other words it is a loose-loose sitatuation for the buyer. Bank is set to gain if you had already repaid certain amount of loan prior to the auction. Hope this is clear to you.

Answer by : Murali Krishna Sep 13, 2010

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Dear Sir, I am Research Scholar in one of the research centers in Germany. I am planning to build house for rent in an identified property( The Property is in my mother's name). My average salary is around 70,000 per month. I searched for various bankings to apply for Loans. How do I apply for the Bank Loans. I request you to suggest me how to get a Loan ( reasonable interests etc.,) and it process. Thank you.

Posted By : suma Sep 11, 2010

Hi Suma, Not all banks and housing finance companies in India provide loans for the NRIs workign in Germany, SBI is one such bank which does consider even Germany NRIs. Please ask your parents are relatives living India/Hyderabad to contact me at my email sent to your email id. Thanks

Answer by : Murali Krishna Sep 13, 2010

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sir Namaste ! I applied for tractor loan with 3 of my family members land (my father, My wife and myself ) the bank (sbi) wants registered mortgage of land how can I get registered with sub registrar and how much stamp duty I have to pay my loan amount is for tractor is Rs.5,50,000/- .

Posted By : gvr rao Aug 29, 2010

Dear Mr. Rao, you got to deposit the title documents with bank for the loan and the same title to be registed with sub-registrar office as well. They charge 0.5 percent of the loan amount as the fee.

Answer by : Murali Krishna Sep 9, 2010

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sir my name is naresh am the real estate agent but i have many clients asking the mortgage loans how can i contact with the persons who give direct loan in hyderabad..am searching for this since 3months.i dont know whether i can ask this question to u or not but this is my problem sir.what can i do?

Posted By : naresh Aug 17, 2010

Dear Mr. Naresh, You can contact me at my phone or email, I sent you these details to your email Id. Please feel free to call.

Answer by : Murali Krishna Aug 24, 2010

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Dear Sir, I wish purchase a flat and i would like to go for housing loan upto 1200000,But the Flat is constructed in the gramme panchayat limits ,and i do have an SB account in Sbi bank since 2 years .As i would like to know any of the nationalize bank will provide me the loans or which is the best bank to approach for the housing loans ,I will prefer for nationalize banks as private banks will have hidden charges

Posted By : Ajay Barje Aug 17, 2010

Dear Mr.Ajay, Public sector banks do offer loans to flats in gram panchayat limits, however it has to be only in either ground floor or G+1 floor. LIC Housing also provides loans with same condition. Among the public sector banks SBI offers better interest rates. Since you have existing relationship, it is better your approach them first.

Answer by : Murali Krishna Aug 24, 2010

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It is indeed good to learn and share insights and I hope that would be a common ground for any of us. Thumbs up to the Admin, I learned alot from reading for a long time, thanks guys.. Awesome forum and keep the good work.

Posted By : Milkoghroth May 15, 2010

Hi, My sister and I live in the U.S and are U.S Citizens. My sister is willing to give me a propery that she owns in India as a gift. Both of us came from India to U.S 15 years ago. Can we do this transaction in the U.S ? Please assist.

Posted By : George Apr 14, 2010

Dear Mr. George, Please note that your question is related to property registration and ownership transfership, therefore, referred to our legal expert, please see the Legal section, Thank you.

Answer by : murali krishna p Apr 14, 2010

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we want private finance 50 Lacs on agriculture 10 acres garden.1cr value.any possibility pls send me details

Posted By : siva Mar 17, 2010

Dear Mr. Siva, We deal with only Financial Institutions and Banks, not the private financiers. Perhaps, can help pass on your contact to such financier whoever is interested. Thank you.

Answer by : murali krishna p Mar 18, 2010

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I have purchased land in Gram Panchayat. I want to get loan on this . Either on land or mortgage loan. Please suggest me the ways to get the loan

Posted By : Sreelatha Dec 23, 2009

Sreelatha, If I understand your question correctly, you are looking for a loan for property located in Gram Pachayat Limits. Most of the nationalised banks and private banks do not give loans for plot located in Panchayat limits.However, if you go for construction in that plot, you can apply for a homeloan. Most of the leading banks do give homeloans in panchayat limits too, but upto only G+2 (Ground plus Two Floors). Therefore, you can approach a bank or any financial institution like LIC,DFHL,Reliance Capital with your construction proposal plan, before that you need to get the construction plan approved by the local panchayat office, usually the panchayat secretary approves such plans. Also,Please note that most of the private banks and the private homeloan lenders do not give loans for rural properties, ulness it is located in city or town limits. If your property is in a rural area, it is better you approach a nearest public sector bank, they will help you out on the process.Please let me know if you need more details.

Answer by : murali krishna p Dec 24, 2009

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Hello Mr Murali My question is with regards to Mortgage Industry in India. Like in Europe can we Mortgage a house, in India do we have this option if yes please advise the proceedings for this available in Hyderabad. Looking forward for your reply. Thanks.

Posted By : shrikant Nov 11, 2009

Mr. Srikant, From your question I understand that you are a NRI living in Europe. I wish to inform you that mortgage loans can be availed by NRI for the properties in India from the banks in India, under certain conditions. If the property is in the name of NRI, a loan will be easier to get approved. Following are the basic rules that apply to the mortgage loans in Hyderabad 1. If extent of property is above 100 sq. yards and the property is not located old city location of hyderabad, then banker will come forward to grant loan. 2. If the property life is older than 15 to 20 years, valuation will not be given as the depreciation is more, and in such cases land value only be considered not for the construction. Some banks will accept the GPA executed by NRI with a blood relative who is living in Hyderabad and some banks will ask the physical presence of the owner(who is NRI) at the time of loan disbursal For Loan disbursal both parameters of property valuation and income eligibility to the extent of loan monthly installments will be looked into, to a maximum of 50% of the property value will be loan component subject to other conditions. Please do let me know if you need more clarifications. Thanks.

Answer by : murali krishna p Nov 13, 2009

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