Taking A Personal Loan To Buy A Home

wealthymattersNow the general idea is that a body takes a home loan to purchase a house and a personal loan to defray marriage related expenses ,to take that vacation in Europe etc…..

Home loans are always secured loans. So the rate of interest generally tends to be much lower than almost any category of loan. And then of course for being such a good child ,the government gives you tax breaks too ! But there are cases where a personal loan is your best way forward to become a home-owner. Consider the following cases:

1.A place like Vasai-Virar might be one of the fastest growing regions in the MMR when it comes to lower priced homes that could also potentially make great capital investments. But start making enquiries and you will start finding out that a whole lot of properties are “Collector Passing” and that apart from the odd co-operative bank or the occasional patpedhi, no home loans to purchase such properties is possible from most lenders. Moreover, the interest rates of loans from these sources makes personal loans from major banks look attractive. Read more of this post

Behaviour Of South Bombay Real Estate In Recession


The residential real estate market in South Bombay has undergone a change in the past three years. Earlier, the South Bombay market was predominantly a resale property market, but now there is a lot of new supply coming in. This has led to a pile-up of inventory.

Napean Sea Road, which boasts of some of the most expensive apartments in India, has premium projects by Rohan Lifescapes, Lodha and Orbit Developers.About 25% of apartments in these new projects remain unsold.

Similarly,all the newer projects in South Bombay are in the ultra-luxury segment and it’s difficult to find buyers for these higher configuration and big-ticket homes in the current market,

So sale of new property has dropped 30% in the past eight to 12 months. For every 100 homes available for sale in a quarter, only six are getting sold. Read more of this post

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