How to Get Home Loans in Bangalore for B-Khata Property
There are two types of Khatas exists in Bangalore A and B. These two khatas denote two types of properties as per the tax payments. The concept of khata in properties is applicable only in Bangalore Blog: https://amritaagarwalblog.wordpress.com/2018/12/05/how-to-get-home-loans-in-bangalore-for-b-khata-property/
There are two types of Khatas exists in Bangalore A and B. These two khatas denote two types of properties as per the tax payments. The concept of khata in properties is applicable only in Bangalore
Blog: https://amritaagarwalblog.wordpress.com/2018/12/05/how-to-get-home-loans-in-bangalore-for-b-khata-property/
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<strong>How</strong> <strong>to</strong> <strong>Get</strong> <strong>Home</strong> <strong>Loans</strong> <strong>in</strong><br />
<strong>Bangalore</strong> <strong>for</strong> B-<strong>Khata</strong> <strong>Property</strong><br />
The concept of khata <strong>in</strong> properties is applicable only <strong>in</strong> <strong>Bangalore</strong>. The khata is<br />
noth<strong>in</strong>g but a legal revenue document. The khata is a proof that the property<br />
owner has an account with BBMP (The Bruhat Bengaluru Mahanagara Palike)<br />
<strong>for</strong> pay<strong>in</strong>g the property taxes. The <strong>Khata</strong> certifies that how loyal the property<br />
owner is when it comes <strong>to</strong> pay<strong>in</strong>g property taxes <strong>for</strong> their property.<br />
There are two types of <strong>Khata</strong>s exists <strong>in</strong> <strong>Bangalore</strong> A and B. These two khatas<br />
denote two types of properties as per the tax payments. The concept of <strong>Khata</strong><br />
came <strong>in</strong><strong>to</strong> existence <strong>in</strong> 2007 when BBMP simplify the process of property tax<br />
collection <strong>in</strong> <strong>Bangalore</strong>. To dist<strong>in</strong>guish the properties on the tax payment<br />
prospect, BBMP ma<strong>in</strong>ta<strong>in</strong>s two different registers which they call A khata and<br />
B khata. The properties listed <strong>in</strong> A khata are fully legal properties <strong>in</strong> <strong>Bangalore</strong>.<br />
And the properties of B khata are illegal or semi-legal properties
<strong>Home</strong> <strong>Loans</strong> <strong>in</strong> <strong>Bangalore</strong> <strong>for</strong> B <strong>Khata</strong><br />
As mentioned above, B-khata properties are semi-legal properties or illegal<br />
properties, avail<strong>in</strong>g a loan <strong>for</strong> the same is not so easy. Most of the times the<br />
home loan application <strong>for</strong> a B khata property is rejected by the lenders. In such<br />
scenarios, gett<strong>in</strong>g home loans <strong>in</strong> <strong>Bangalore</strong> <strong>for</strong> such semi-legal or illegal<br />
property needs some more extra ef<strong>for</strong>t <strong>to</strong> put.<br />
Though most of the lenders reject a home loan <strong>for</strong> B khata property, there are<br />
still some lenders who offer a home loan <strong>for</strong> the same. If you want <strong>to</strong> avail the<br />
same, it is very important <strong>to</strong> approach <strong>in</strong> the right way. The other th<strong>in</strong>g <strong>to</strong> be<br />
considered that a home loan on B khata property can be costlier than a general<br />
home loan rates.<br />
In order <strong>to</strong> avail a home loan <strong>for</strong> a b-khata property, you are <strong>to</strong> provide some<br />
documents. Here is the list of property documents needed <strong>to</strong> be furnished.<br />
• Mother Deed along with the Sale papers of the respective papers<br />
• EC (Encumbrance Certificate) which acts as the proof <strong>for</strong> property tax been<br />
paid<br />
• KYC documents<br />
• Last 2 years IT returns papers of the respective owners<br />
Though one may furnish all the documents still the chances of approval is never<br />
so high. It is advised <strong>to</strong> be clear with the lender that your property comes under<br />
B khata. If the lender is ready <strong>to</strong> lend you a home loan, then only you should<br />
apply <strong>for</strong> the same. If you apply <strong>for</strong> a home loan without be<strong>in</strong>g confirmed, your<br />
loan application may get rejected which can cause more difficulties <strong>in</strong> gett<strong>in</strong>g a<br />
successful loan. Some of the f<strong>in</strong>ancial <strong>in</strong>stitutes who offer home loan <strong>for</strong> B<br />
khata properties are LIC Hous<strong>in</strong>g F<strong>in</strong>ance, CAN F<strong>in</strong> <strong>Home</strong>s, HDIL, Indiabulls<br />
and so on.
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