Hello Experts,
My younger brother has purchased a 3 BHK flat in Pune in 2010, as he had just started his carrier, his salary was not sufficient to get a loan amount of about 30 lakhs
So he had taken me as a partner in property and since we co-own the flat & the loan.
We had taken loan from DHFL at 9.50% interest rate, till now it has been boomed to 12.75% which is huge as compared to other banks,till now only he was paying the EMI of the loan.
Now he is planning to transfer my loan to SBI at much lower interest rate.
For this we'll need to apply together as co-applicant (as property is shared)
But due to my other plans I want to move out of this property.
Can you please help me understand how can we do this, as his loan eligibility is good, he can easily get loan amount on his own.
Do banks accept the Gift deal?
If we plan to change the ownership do we need to do registration again.. does it mean we need to pay Registration & stamp duty again?
Your comments will really help!
Thanks in advance!
