What is the difference between government value and market value?

As already mentioned, the guideline value is set by the government, whereas the market value is decided by the seller. In an ideal place, both these values must coincide. However, this rarely happens in India. In most cases, the guideline value is much lower than the market value.

What if market value is more than circle rate?

In short, if circle rate is more than market value then you can exercise an option that you are not willing to pay stamp duty and registration charges as decided by the Sub Registrar. In this case, Sanjay will appeal that Market value of his property is 70 lac but circle rate is 1 Cr.

On what basis is home loan given?

At the beginning, lenders will assess your eligibility for home loan on the basis of your income and repayment capacity. The other important considerations include age, qualification, financial position, number of dependants, spouse’s income and job stability.

Can I get home loan before registration?

You cannot get a home loan without the registration documents. Banks do not give loans for unregistered properties. Hence it is mandatory to have registration documents before applying for a home loan. If the property is under construction, the home loan can be obtained without registration documents.

Can I sell property below market value?

Guidance Value Bangalore: Quick recap The property can be sold at any price between the guidance value and the market value, if the latter is higher, without any additional tax implications. If you see a property being sold for less than the guidance value, check its documentation and details.

Can I sell my house at less than market value?

Selling a property is generally done to generate profit. Home sellers expect to gain some kind of revenue, hopefully more than what they have already invested on it. If the question is whether a seller can sell a house below market value, then the answer is yes.

How much home loan can I get on property value?

According to the guidelines issued by the Reserve Bank of India (RBI), the LTV ratio for home loans can go up to 90\% of the property value for loan amounts of Rs. 30 lakh and below.