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Whether banks and financial institutions lend money for purchase of land?

Yes, some banks do consider grant of loan for purchase of land as long as it is for residential purpose only. Banks also grant composite loan for purchase of house sites and for construction of house there on. The quantum of housing loan would depend on your credit profile and re-paying capacity.

You get no tax breaks if you take loan to buy a plot of land. But, if you take a composite loan for purchase of site and construction of house thereon, you can get a tax break. In such a case, the tax benefits are available on both portions of the loan - one to purchase the plot and the other one taken to construct the house thereon.
Please note that the benefits under Income Tax Act can be availed only when the construction of the house is complete.


Can home loan be converted from fixed rate to floating rate & vice versa?  

When should one opt for a fixed rate home loan?

Can home loans be obtained against two different properties?

Whether banks and financial institutions lend money for purchase of land?

What are the charges other than interest that are levied by home loan lenders?

What is the role of a builder, promoter in group housing complex?

In multi-storied buildings maintenance charges is charged and frequently the word AMC is used.  Please explain the words?

Please clarify whether it is correct on the part of the association to collect more maintenance charges from tenants irrespective of it being paid by the owner or by the tenant himself.

I live in an apartment of 16 units (GF plus 3 floors).  I live on the third floor.  The owner living below me (second floor) has complained of leakages in his bathroom.  I did attempt some repairs (plastering) on my bathroom floors. This proved to be a temporary solution.  Now he is demanding replastering of my bathroom and refixing of tiles.  I insisted in this case the cost towards repair and materials to be shared mutually.  Am I justified in my argument? What does the rule say?

I would like to know on what basis the flat maintenance charges could be raised from the present amount? Our building is over six years old and has 65 flats. We recently completed painting the outside walls for which the corpus fund was used.  Being six years old, the water pumping motors for all the five blocks need replacement and also expenses are there for the OTA space closing, hard topping in the two wheeler parking area. Please advice.