How to buy new 80 Lakhs 3 BHK flat in Godrej Park Retreat in Bangalore with just 10 Lakhs? | Technical, Finance, Investment Questions

How to buy new 80 Lakhs 3 BHK flat in Godrej Park Retreat in Bangalore with just 10 Lakhs?

Sanjana Thakkar

2 years ago

Sarjapur has become one of the great investment place for Bengaluru as rentals are very high as it's very close to Eco Space Park and other IT Parks of Marthahalli roads. I have one 3 BHK flat in HM Symphony and I am getting 35,000 INR rental monthly.All the IT Parks and 4-5 International Schools are just 2-3 KM in that area.I planned to buy another flat in Sarjapur road with Godrej Park Retreat for investment purpose. Godrej Park Retreat: This is around 2 km on Marthahalli Sarjapur Road from Wipro Office. This project is making around 2000 Flats with 2BHK and 3 BHK. 3BHK Cost around 80 lakhs with saleble area (1274 sq ft) Funding: Builder was demanding 10% cost to start preparing for sales agreement which is required for taking loan from bank.I contacted HDFC Bank for loan and they told they will provide me 88% loans and 12% amount should be paid by me. So I paid around 10 lakhs to builder and rest 88% amount I took loan from HDFC Bank with 6.7% annual interest.

Sanjana Thakkar

Business Analyst at Amex Singapore

2 years ago

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