Wednesday, July 9, 2003

And a house too !

This is happening so fast I can barely believe it. Sindha and I went looking for a house to rent in the Whitefield area. We didn't find anything good and within budget, so we were on our way back when we thought of checking out a new property coming up at Brookefields. Its a set of 20 row houses, located just behind the HLL corporate office and a stone's throw away from Ryan International School. We really liked the place and found it affordable too. Met the builder on Monday and signed up by giving a token advance ! Am now getting calls from housing finance companies and talking to various people on the merits and demerits of this property.

In all likelihood, we will go ahead. Just need to get the legal part checked out (a lawyer friend will do that) and get a good deal from one of the finance companies. Citi and HDFC are offering the best rates (8.25% for a 15 year tenure) but I've heard that PSU banks like SBI are better in terms of service. Does anyone have experience here ? What would you recommend ?
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10 comments:

  1. veenvenJuly 9, 2003 at 1:25 AM

    P and I are house hunting too, albeit half heartedly. IDBI Bank is also supposed to be good. The order I was reccomended was
    HDFC
    SBI
    IDBI
    Citi

    Dont touch HSBC with a barge pole.

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  2. madhavJuly 9, 2003 at 1:56 AM

    Thanks for the tip ! Just spoke to HDFC, they appear to be the best of the lot so far, though their processing fees are the highest. Watch this space for details

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  3. mythrandyrJuly 9, 2003 at 3:19 AM

    No personal experience, but a couple of friends have gone thru Citi.
    Can put yu in touch with them if yu want?

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  4. raviJuly 9, 2003 at 7:57 AM

    Whats up with HSBC? They're the best bank IMHO, in Canada.

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  5. chetanJuly 9, 2003 at 5:30 PM

    HDFC's good, but expensive. You could try out Corp Bank (horrible service, but 9.25% fixed for +10 yrs for +10 lakhs), or Vijaya Bank (9.5% fixed, 20 year tenure, but a 0.2% extra payment can cut it down to 15), or you could talk to ICICI (8.5% floating, if you have a salary a/c with them). Citi and HSBC suck. Stanchart's a good rate, but they 'only' service MNC's, the government and private limited companies (with a 100 year track record- no kidding).

    PS: I'd stick with public sector banks anyday- HDFC and ICICI will call on you in the loo, if you skip payments by 1 day.

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  6. madhavJuly 9, 2003 at 7:16 PM

    Thanks, but I'm more inclined to try hdfc or a psu bank. Don't know why, maybe a deeprooted mistrust of Citi ;-)

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  7. jayasankarvsJuly 9, 2003 at 7:41 PM

    Do you get liqour there?

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  8. raviJuly 10, 2003 at 9:48 AM

    Where there's a will, there's a way, or some such ...

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  9. bobbenNovember 18, 2003 at 6:40 PM

    Which would you recommend?

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  10. madhavNovember 18, 2003 at 7:11 PM

    I'd go with HDFC or ICICI. Professional and good service. No complaints so far with HDFC, though they are slightly more expensive than a few others.

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