Menu
buying a property
I had home loan of 160000 of PNB. I transfered it to Sbi and get Total amount 27 lac.. Can I buy a residential land of excessive 11 lac??
Replies (8)
Yes, subject to any condition/s implemented by SBI under the loan agreement.
Thank u sir but in loan agreement, it is clearly mentioned that the amount of the loan shall be utilized strictly for the purpose detailed in application.
Yes, if it was applied only for modification of the existing property......... you cannot utilize it anywhere else!!
Its not for modification sir. Its only take over from PNB to Sbi.
Its home loan only. Not for modification
Check again the conditions of the loan agreement, because while transferring the loan, additional amount has been sanctioned.
If no specific reason specified, you can transfer the additional amount to your saving bank.......
OK thnx sir
My Pleasure
Recent Threads
- Compensation for urban land acquisition
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
- Taxation for sale and purchase of REIT shares
- PAN - AADHAR LINK
- RECONCILIATION OF GSTR 2B Vs BOOKS WITH VBA
- Regarding cancellation of GST Number
- GST on business receipts pre -registration
Related Threads
CAclubindia
