I have a land in Chandigarh which is in n ame of my parents.
I have decided to build a godown at that place with my money.
I am salaried and earns 35000 p/m. please suggest which bank will give me such kind of loan.I am currently working in Pune.
do i need to get the land transffered into my name. please suggest.
Commercial Construction Loan?
Read some tips on mortgages and loans on this site
Commercial Construction Loan?
(1) You can get a loan for the purpose of %26quot;commercial constructon %26quot; itslef as even today norms have been relaxed by PSU banks themselves for real estate development and all types of construction activities
(2) On the possible rentals accruing from the commercial structures will be taken into account and %26quot;Rentals Receivables%26quot; loans are also given.
(3) Mortgage loans against Income tax returns are also being given 5 times of IT return amount.
You can arrive in which way you are getting more and go for it where rate of interest is also low.
The prevailing interest rates for the said activity goes onlike
11% to 12.5% (commercial and mortgage)
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