Home loan on lease land

brjsh bnani (Querist) 10 April 2017 This query is : Resolved
SIR/MADAM

I HAVE BOOKED A FLAT ON A LEASE LAND.I MADE UPFRONT PAYMENT ON TRUST OF THE PROMOTER.DUE TO FINANCIAL PROBLEM I WANT TO TAKE HOME LOAN ,BUT CAME TO KNOW THAT HOME LOAN IS GENERALLY DIFFICULT TO GET OF LEASE LAND PROPERTY?

i WILL GREAT FULL IF SUGGESTED ANY REMEDY

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Sudhir Kumar, Advocate (Expert) 11 April 2017
You invested money without verification of title so who can help you.

have you tried any loan?
has builder got any loan plan?

Rajendra K Goyal (Expert) 11 April 2017
Contact Bank for home loan, if the documents are in order it would be sanctioned.

If there is any discrepancy in documents, Bank would decline and it would be better for you to avoid the property in such situation.

Adv. Yogen Kakade (Expert) 11 April 2017
Your banker shall be the best person to guide you in this regard.

Raj Kumar Makkad (Expert) 12 April 2017
It is wrong perception that loan facility is not advanced by banker on leasehold properties. Bankers these days are waiting for the customers desiring for the home loan. Contact either of them.

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