How to get site registered between 2 brothers

[kunalsd]

Hi,
I need all your valuable guidance on the steps to get a site registered between 2 brothers:

1. Me and my brother have decided to jointly purchased a site.
2. It would not be possible to immediately construct a home due to the outstanding loan.

So I wanted to know if we register the site jointly under 4 names - me, my brother and our spouses, will our spouses be able to take a construction loan in future? They will not apply for the initial plot loan.

Kindly suggest the some viable options?

Regards,
Kunal

[kunalsd]

Hi All,
Can you kindly post your valuable suggestions to my query above?

Regards,
Kunal

[pvr59ksl]

HI Kunalsd,

Yesterday I was at Central Bank of India, K.G. Circle branch, for my home loan. I put your query to the AGM. He said it is possible. The loan will be calculated based on the total income of the four persons less the EMI of the existing loans( of all the four). He also told me that you can contact him for clarification. In fact their service is excellent. The staff are also very courteous and very helpful.

[krish]

Good to see your reply pvr59ksl. Thanks for the clarification.