Asked by alok singh
I am looking for buying apartment in RIO VISTA around 800 to 840 K.
Before making decision for 80% loan, I seek your advice on following matters
1. As property prices have already touched all time high, what is prospect of RIO VISTA 840K unit? Will it remain on present level or drop down in next few years.
2. What exactly 99 Years lease mean, If I intend to sell this property in next 05 yerars what implication it would bear in terms of price regarding 99 Y lease.
3. What will happen to those owners who remain inveseted in property till 99 Y. Will they get any refund when govt takes over this property.
4. How bank reacts on drop of property value? Lets say today Bank valuate this property as 850 k and grants 670 k as loan. Assuming down two years property plummets and bank evaluate this property only worth 600 K, how it will affect me?
5. In above case, Will I have to top up difference of valuation (i.e 250K) to bank.
Before making decision for 80% loan, I seek your advice on following matters
1. As property prices have already touched all time high, what is prospect of RIO VISTA 840K unit? Will it remain on present level or drop down in next few years.
2. What exactly 99 Years lease mean, If I intend to sell this property in next 05 yerars what implication it would bear in terms of price regarding 99 Y lease.
3. What will happen to those owners who remain inveseted in property till 99 Y. Will they get any refund when govt takes over this property.
4. How bank reacts on drop of property value? Lets say today Bank valuate this property as 850 k and grants 670 k as loan. Assuming down two years property plummets and bank evaluate this property only worth 600 K, how it will affect me?
5. In above case, Will I have to top up difference of valuation (i.e 250K) to bank.
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