Bank Auction is bit tedious process. In my previous post, Bank Auctions - The Cheaper and Smarter way to buy your dream house i discussed some of the do's and don'ts related to Bank Auction. In this post, i will discuss the Bank Auction Process in detail. Currently Bank Auctions are hijacked by some agents. Agents charge hefty commission in this whole process. I never suggest to go through agents as the probability of cheating is high through agents. Specially in Mumbai, all my clients prefer to buy bank auction property through agent and willing to pay x% through cash during Bank Auction ... Read More
VAT and Service Tax – Under Construction Flat
Buying an under construction flat is most taxing for any buyer. In my post on Resale Flat or Under Construction Flat, Which is better? i discussed pros and cons of under construction flat. Builders attract buyers with attractive offers of Rs 2999* psf or Rs 3999* psf only. The "star" next to price point makes all the difference. A buyer is caught unaware of miscellaneous charges attached to under construction flat. Though with the time, things have changed and now reputed builders disclose most of the charges associated with under construction flat. Still small and unorganized builders which ... Read More
Should i apply for Pre-Approved Home Loan?
In my opinion, Pre-Approved Home Loan is one of the least risky way of buying a property through Home Loan by a buyer. Obviously it require intelligent planning and execution. Later in the post, I will explain how Pre-Approved Home Loan mitigate certain risks. Every product has its own advantages and disadvantages therefore before making any decision it is advisable to understand the product in detail. I receive lot of queries from my clients on Pre-Approved Home Loan therefore i decided to write a separate post on this subject. In my previous posts, i explained Pre-Approved Home Loan product ... Read More
Dream Home Vs Gold – Productive Vs Non Productive asset
Indians are basically mad about or fond of following Four 1. Increasing Population (India’s population is proof of same) 2. Cricket 3. Movies 4. Last but not the least the craze for Gold (Simply check out qty of gold with few of ur frnds/relatives) Gold and Property are 2 most preferred investments mode for Indians with Gold being at No. 1 position…Most of the times, people are confused between Dream Home Vs Gold…Recently one of my friend asked same question to me which put me in confusion then after lot of research and analysis my conclusion is, though Gold act as potent tool/hedge ... Read More
HDFC Ltd Home Loan Experience – A Learning for Borrowers
Today i will share my worst experience till date i.e. availing Home Loan from HDFC Ltd. As i mentioned in my previous post that HDFC Ltd. and HDFC Bank are 2 different listed entities. Many potential borrowers fall into this trap considering both are same. After Pre Home Loan Review i finalized HDFC Ltd based on good experience with HDFC Bank. After processing fee was en-cashed, i came to know that both are different. It was too late. HDFC Ltd is largest and oldest lender. My personal philosophy is to always go with Market Leader and you will not face any problem. Unfortunately, this time, i ... Read More
Pre Home Loan Review of HDFC, ICICI, LIC, SBI and AXIS
Pre Home Loan Review is quite a tricky exercise. You have to judge and decide home loan provider based on a couple of pre home loan interactions. The problem is that you cannot apply with multiple home loan providers. For simplicity purpose, i will address home loan providers including HFC's as Banks only. In my post, How i am responsible for my low CIBIL Score i shared if you apply with multiple banks then it will impact your CIBIL Score. With this context, Pre Home Loan Review becomes more critical. When i availed home loan, i did this exercise of Pre Home Loan Review with top 5 lenders ... Read More