Buying a property of your own is more of a necessity rather than a dream. These days, the property rates are quite reasonable if you bury a property a little away from the realty hot spots. But buying a property without cash is a little difficult because if you even apply for a loan, you will have to pay 15-20% of the total amount. Usually the bank provides up to 85% of loan.
However, if you are someone who is eligible for PMAY (Pradhan Mantri Awas Yojana) then you can get a loan with very less down payment. Plus, you will get a huge subsidy on the loan EMI as well. So I would suggest you check PMAY eligibility.
Now if you aren’t eligible for PMAY, you need to look for a property that suits you. I would suggest you check online on real estate websites as you can easily find with the lowest rate in the area. However, you will need to arrange for 20% of total amount. If you don’t have that much amount right now, then you can ask your family members to support you and you can pay them later with interest.
You should also know that, you there are other charges such as stamp duty charges and more. This could be from 2% to 8% depending on the location of the property.
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Authors Of The Question
How to purchase a property for which circle rate is much below the market rate and we have no cash in hand?
Umesh
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4 Year
2020-11-01T19:09:36+00:00 2020-11-11T17:13:59+00:00Comment
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