Home/Finance/Home Loan/I am planning to buy a property worth 50 lacs but the builder is forcing me to execute registry for 40 lacs only due to which I am unable to take desired amount of loan. What are my options to show property value as 50 lacs to take higher loan?
Q.
I am planning to buy a property worth 50 lacs but the builder is forcing me to execute registry for 40 lacs only due to which I am unable to take desired amount of loan. What are my options to show property value as 50 lacs to take higher loan?
Many people have fallen prey to this trick used by various builders by luring the customers on the name of stamp duty. This way, the builders ask you to pay the remaining amount in cash. That means you will be asked to pay around 10 lakhs in cash and you won’t get a home loan on this amount. This is done so that the builders don’t have to pay tax to the government.
I would suggest, take a firm stand and ask the builder that you would want to show the actual amount of the property if you want to avail a proper amount of loan from the bank.
Got your point, but in this case I run the risk of losing out on a lucrative deal since the builder will prefer another client over me who can pay in cash to safeguard his profits and evade tax.
And moreover he won't be bothered if I get the desired amount of loan or not.
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I am planning to buy a property worth 50 lacs but the builder is forcing me to execute registry for 40 lacs only due to which I am unable to take desired amount of loan. What are my options to show property value as 50 lacs to take higher loan?
KulvinderKhosla
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September 29, 2020
2020-09-29T00:14:14+00:00 2020-11-12T12:23:44+00:00Comment
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Home Loan
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