Bad news for new home loan customers.
http://business-standard.com/india/news/reserve-bank-puts-new-clamphome-loans/463845/
RBI has asked the banks not to consider stamp duty and registration charges while calculating the finance amount.
Stamp duty is approx 4% of the property value while the registration charges are 1% (with 30k cap currently)
Be ready to take a hit of 5%; i.e. approx reduction in your property value while calculating the finance amount
http://business-standard.com/india/news/reserve-bank-puts-new-clamphome-loans/463845/
RBI has asked the banks not to consider stamp duty and registration charges while calculating the finance amount.
Stamp duty is approx 4% of the property value while the registration charges are 1% (with 30k cap currently)
Be ready to take a hit of 5%; i.e. approx reduction in your property value while calculating the finance amount
