Tuesday, February 7, 2012

Another burden on your new home loan!

Bad news for new home loan customers. 


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