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Hello ,

I am bangalorean and i have always dream to buy a plot in bangalore but the point is i have no downpayment rather than i am ok to pay emi without any issues ,

However i know all will suggest to take loan well my problem is i dont have 15%or 25 % downpaymet amount to be made for applying the loan or purchasing plot.


Any suggestions ?

Hi,

Banks usually gives 75% to 85% Loan for Purchasing the Plots with a condition to construct the house within 2 years @ ROI 9.5% to 10%
If you don't have even 15% Downpayment, then no bank will provide 100% loans for purchasing Plots. They have some set of rules.

In this case you have below options to pay 15% Down payment and rest go ahead with Plot Loan
1) Personal Loan (ROI is around 11.99 to 13%) depending on your negotiation and your Credit history
2) Gold Loan also you can consider which is 11-12%.
3) If you have LIC policy and is paying regularly then take a Loan for that with 10% interest

Borrow from your friends/Relatives with ROI Free and return to them without fail as per agreed duration

rgds
Swamy

Thank you <

Hi, ^~!|
You don't have any other option than suggested by swamy. Taking a personal loan or hand loan from friends. No bank will give you 100% loan on 100% valuation.
You get loan of 80% on the distressed sale value of property you intend to buy. Distressed sale value is always 20% cheaper than actual value .So in effectively you get about 70% of total value. In case you are approaching private banks you can expect 80-85% and 90% in case you show them savings in the form of LIC or assets

Regards,
Ar.Praveen.N
Ardes Architects and Interior designers
ardesarchitects@gmail.com
www.ardesarchitects.com
facebook.com/ardes.architects

Thanks every one gotta a loan now searching for cheap sites:)
still no luck