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Plot or Flat(House) which is best in Bangalore for engineers earning 30,000 per month

 
Greenhorn
Posts: 3
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Is it worth buying a 40/60 plot in jakannahalli, which comes in route of Electronic city to bannerghata road to,which is located 9km from electronic city cost is around 10 lakhs or is it advisable to go for flat ranging from 20 to 25 lakhs inside the city.


1) Can I apply for loan? What is the % of amount I can get and interest?

2) Is it advisable to buy plot applying for loan. If I buy a plot than it does not come under tax exception right than it become for me to save than what I should do in order to save tax, do I need to submit any receipts

3) which is the best bank to apply for loan against plot

4) which is better option for software professionals either plot or home for tax savings

5) If we get the 10 lakhs loan against plot what would be the EMI

6)can u plz explain me the land calculations briefly how we could calculate
ie come say 40/60

Thanks in advance
 
Greenhorn
Posts: 28
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Is it worth buying a 40/60 plot in jakannahalli, which comes in route of Electronic city to bannerghata road to,which is located 9km from electronic city cost is around 10 lakhs or is it advisable to go for flat ranging from 20 to 25 lakhs inside the city.

Don�t go to buy plots in blore that to in electronic city.we are expecting crash very very soon even the software market is going to crash because of blore poor infrastructure.


Can I apply for loan? What is the % of amount I can get and interest?

U will get 100% loan at 7.5 rate of interest

2) Is it advisable to buy plot applying for loan. If I buy a plot than it does not come under tax exception right than it become for me to save than what I should do in order to save tax, do I need to submit any receipts

it is not advisable to buy plot applying for loan

3) which is the best bank to apply for loan against plot

Citibank because of its services

4) which is better option for software professionals either plot or home for tax savings

Don�t go for anything just enjoy the money u get

5) If we get the 10 lakhs loan against plot what would be the EMI

Emi would be around 20,000 for 20years

6)can u plz explain me the land calculations briefly how we could calculate
ie come say 40/60

Even I don�t know others can help him in this regard
 
Ranch Hand
Posts: 2596
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Originally posted by dileep krishna:
Is it worth buying a 40/60 plot in jakannahalli, which comes in route of Electronic city to bannerghata road to,which is located 9km from electronic city cost is around 10 lakhs or is it advisable to go for flat ranging from 20 to 25 lakhs inside the city.

Don�t go to buy plots in blore that to in electronic city.we are expecting crash very very soon even the software market is going to crash because of blore poor infrastructure.


Can I apply for loan? What is the % of amount I can get and interest?

U will get 100% loan at 7.5 rate of interest

2) Is it advisable to buy plot applying for loan. If I buy a plot than it does not come under tax exception right than it become for me to save than what I should do in order to save tax, do I need to submit any receipts

it is not advisable to buy plot applying for loan

3) which is the best bank to apply for loan against plot

Citibank because of its services

4) which is better option for software professionals either plot or home for tax savings

Don�t go for anything just enjoy the money u get

5) If we get the 10 lakhs loan against plot what would be the EMI

Emi would be around 20,000 for 20years

6)can u plz explain me the land calculations briefly how we could calculate
ie come say 40/60

Even I don�t know others can help him in this regard



I dod not know if it was a joke, but how can one give definite answers without knowing the variables for a person? From my personal expereince & family expereince I can say that Citibank is one of the worst banks for any type of loans -- we even considered going to consumer court because of the problems we had with Citibank. And best bank is not an *absolute* thing -- if SBI has tie-up with your company, it's best for you, but not for me.

Besides ROI of 7.5 is not gospel as well......

And 10 lacs loan at 7.5 monthly rest ROI for 20 years will have EMI 8056, that is simple maths, and any online EMI calculator can do that.

I do not know what 40/60 is either....

- Manish
 
Ranch Hand
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Originally posted by Manish Hatwalne:


I do not know what 40/60 is either....

- Manish



40/60 means 40x60 sq feet area(2400 sq feet)
 
Ranch Hand
Posts: 52
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hi gribabu...
Go for the plot..The land price is appreciating every day..Even if you hold the plot for 6 months and sell it I believe you will make 30-50% profit....
 
Ranch Hand
Posts: 37
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My brother had recently 2 days back blocked a 40*60 plot by paying 2 lakhs rupees in bangalore near jakkanahalli which is located 11km from the electronic city with 450 rupees per square feet is it costly would there be any appreciation for this plots

Did any other ranchers buy any plots in Bangalore if purchased can u please say the price per square feet and the area were you purchased .

Ranchers please give your suggestion regarding purchasing a plot in electronic city is better or near yelankha airport is better. I heard that nowadays real estate is the only business which gives 100% returns within one year in Bangalore is it true.

Important

Can u please briefly describe Which would be the best area to buy the plots in Bangalore.???
Thankyou
 
Ranch Hand
Posts: 986
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My advice is invest only if you have extra money
Print media,Govt agencies and established IT companies might be trumpeting on this but reality is realty in Bangalore will go down as other town/cities are coming up.Many companies have already stopped growing here.
Cochin,Mangalore might be the 'hot' cities to invest in.
 
Ranch Hand
Posts: 279
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Hi,
I was living in b'lore till recently. I would suggest to buy a plot, though as what others say, I also feel that the market is going to crash there.
But its your decision. Also the loan will be 7.5% to 8.00%.

One more suggestion, please dont get the loans in ABN-AMRO bank in, Bangalore, its one of the worst run banks. They really cheat teh customers and the service or the responses are not proper.

Thanks
 
Greenhorn
Posts: 6
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one more hit on Bangalore
Traffic woes: Siemens not to expand in B'lore

Tough time for Bangalore..
 
Thanks tiny ad, for helping me escaped\ the terrible comfort of this chair.
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