Monday, January 24, 2011

I want to purchase agri lands in South India and at the same time I need bank loan pl advise?

the preferred location is Madurai District


agricultural loans available in banks coming under priority sector. i doubt loan availabilty for purchase of agricultural land itself. pl check up with nationalised bank.

you want to buy agri lands when the price of agri commodities is falling on world markets.

um -- you'll not get any bank to lend into that scenario unless you have around 50% cash to put down.

How much down payment do you have? Have done a business plan with a 3-year pro forma cashflow analysis? You need all that for the bank.

Commodities skyrocketed earlier this year -- too many people, too little food. But with economies weakening so sharply, commodities are falling, too, despite an excess of demand over supply. No money to pay for the commodities. Therefore, with markets in turmoil, your bank will need a hefty down payment, and very serious, very professional pro formas. It better be a bank you have a solid, long-term well-established relationship with. Nobody else wants to talk to you.

why are u wasting your time in asking questions here. just contact your bank where u have a savings or current account and ask them about the procedure of taking a loan for purchasing land. as far as i know very few banks given loans for purchase of land. however, the correct reply would be availaible with your bank only

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