Can we sell a flat which is on loan?
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Can we sell a flat which is on loan?
What is the process? Answer: In case you want to sell the property on which you have a running home loan, you will need your lender’s consent for the same. This consent is typically provided in the form of a letter which will typically provide the amount, on payment of which the outstanding loan will be fully paid off.
How much do I need to put down on a 50 lakh house?
Buying a house for Rs 50 lakh? Remember, you need to pay at least 20 per cent of the money or Rs 10 lakh from your own pocket.
What is the value of sale deed?
Let’s take an example to see how much it costs to register a sale deed in Mumbai:
| Particulars | |
|---|---|
| Area of the property | 1000 square feet/92.9 Square mtrs |
| Value of property as per ready reckoner rate | Rs. 1,85,80,000 |
| Actual sale value | Rs. 2,78,70,000 |
| Stamp duty @ 5\% on higher of the two values | Rs. 13,93,500 |
What is the best way to sell a flat?
Ten of the best tips to help you sell your home in a flat market
- Choose your estate agent well. You don’t have to sell your home through an estate agent, but if you do, choose carefully.
- Haggle over fees.
- Get the price right.
- Get organised.
- Clear the clutter.
- Improve your home …
- 7. …
- Don’t hover over viewers.
Can a flat be sold?
Yes . you can sold the your flat without previously made sale deed . but you are extra charges will be occurring when you saling this flat. firstly you made a confirming agreement between previous owner and you then registered.
What happens if I don’t submit Form 16?
In case an employer fails to provide you with a Form 16 after having deducted TDS – the minimum penalty that the employer will pay is Rs 100 for every day the default continues.
Should I put down 50\% on a house?
Lenders prefer borrowers who put at least 20 percent down on home purchases, giving them the best loan terms and interest rates. A loan with 50 percent down payment has a desirable loan-to-value of 50 percent, however, the interest rate may not differ much from a loan with the standard 20 percent down payment.
What are the tax implications of buying a new house in India?
If the new house is sold within three years, the deduction claimed will become taxable as a long-term gain. This new house purchased or constructed must be situated in India. The proceeds should not be invested in a commercial property or in another vacant plot.
Can I get a home loan to buy below market value?
The banks have special home loan lending policies for buying a property below market value. For example, there may be plenty of “gifted equity” in the property but banks are often hesitant to grant approval for the mortgage. Do I need a deposit?
How much cashback is available when you refinance with BankSA?
BankSA is offering $3,000 cashback when you apply to refinance by 31 August, 2021 and settle by November 30, 2021. The offer is available for owner-occupier (P&I repayments) and residential investment loans with an LVR of less than 90\%.
Can I buy a property outside of India with capital gains?
According to the latest amendments in the Income Tax Act, the residential property which is bought by re-investing the long-term capital gains must be situated in India .If you would like to buy a property outside India say in the US, you need to pay tax on the capital gain portion of the sale proceeds.