Hi,
I am planning to take house loan from SBI. They give loan upto 80% of the Agreement of Sale. They require the Sale Deed to be of the same value as Agreement of Sale and not on the government guidance (which is generally much lower then the actual price paid).
Now If my loam amount is only 50% of the Agreement of Sale then can I get the Sale Deed as per government guidance. Then the loan amount will be below 80% of the Sale Deed done as per government guidance.
Example:-
– My loan eligibility based on my income: 70 lacs
– Agreement of Sale: 62.50 lacs
– My loan eligibility as per property price (80% of AOS): 50 lacs
– Loan Applied for: 35 lacs (56% of AoS)
Here as my loan amount is much below my eligibility as per the property so can I get the Sale Deed done at amount lower then the AOS (say, at 43 lacs). My loan amount will still be below 80% of the Sale Deed done at govt. guidance .
Regards,
AJ