I have taken Housing Loan from SBI(Max Gain). Total cost of the property is 50L but bank said that they could consider 40L as loanable amount. So they sanctioned 32L loan to me although as per my take home salary, they could have sanctioned bigger loan. Now, when its time to disbursement, they are calculating 50L as total project cost and asking to pay 35% of every demand raised by builder. I paid 4L initially and builder raised request for 10L but bank release only 7.5L .I was of the impression that becuase bank considered 40L as project cost during sanctioning process, I will need to pay 20% of every demand raised by builder but looks like I missed some fine point here.
I was planning to take top up loan for around 10L but as bank started demanding 35% from me, my plan got misbalanced.
What is the best option available to me now? From where can I source extra fund? Personal loan will be the last option.