Bank interest rates on house loan for b khatha property

[maviswa]

Hi,

We are planning to construct new house and for that we are planning to take home loan . Ours is a b khatha property. Can anybody tell us the interest rates for home loan for the b khatha property in any bank?

Thanks.

[msn1270]

Nationalised Banks will not give Home loan for 'B' Khata Properties.

Some Co-operative Banks & NBFC's will give but at least 2-4% higher interest than regular rates
(Presently on an average 10% is the Home loan interest Rate) subject to their valuation and applicable criteria's.

[ausraja]

Please think twice before investing in B-khata as its like putting hard earned money and also losing your sleep for ever.

[Kiran Kumar K]

hi ausraja, can u please elaborate in detail. since i am planning to buy one 30x40 B khatha site in shettahali, jallahalli west,bengaluru.

[ausraja]

Kiran , No matter what people say B-khata means "khata issued from govt on illegal property for tax collecting purposes only and its not a certificate saying that you own that property even if you have a sale deed or have paid tax for several years".

There is a reason why nationalised banks wont give u loans because its illegal and some banks will give you loan taking higher interest rate than the market or by asking 2-4% commision (under the table) but no matter what its all your money.

The banks will make sure that they recover money if something goes wrong and you end up losing both property and money , not to mention the sleepless nights , BP , thyroid problems that can be got as a bonus.

[Kiran Kumar K]

thanks sir.

[rajbce]

Ausraja, that's very crisp reply/guidance. Thanks for the valuable inputs (though I have not asked the question but it is useful info in general).

[girishshk]

Private banks gives loan on B-Katha, if all the documents are clear and upto date.
i.e EC for 25 years and valid Deeds. You can try Repco bank which gives loan for B-katha sites.
Loan is based on the income of the salaried person without any hidden charges.
Interest rates are definitely higher than other banks by 1-2 %.

[sun]

CanFin Homes (Subsidiary of Canara Bank) also gives loan on B Khata site for construction. It would charge 1% higher interest than the usual rate.

[ravindra.cm]

You can also try DHFL they are reasonable as well