Can two married nri siblings(both are girls) get combined home loan in India and have the property registered on parents name. Please give me suggestions. My sister and I would like to buy a property for my parents given the housing price in India we decided to join together to get them a apartment. But now I am hearing two married girl siblings cannot get a home loan. please note both of us are working.
No. When you are taking loan it is not possible. If you do cash payment you can register to any one. also if you register in your name or your sister's name or both combined you can avail Tax relaxation,where as if you register in your parent name you have to pay tax.
If both married sisters and parents are in the agreement and further registration processes, then it is technically possible. While it is technically possible to do so, NOT all financial institutions would agree to do that, as this would be a risky financial aspect for them. If both sisters are committed in doing this, then either cash payoff or loan in parent's name and helping with money to your parents for paying their emi could be an alternate arrangement. Please read through this article.
Thank you JustMyself. My parents are old and looks like they may not get a loan. We siblings do not have cash so we are looking into joint loan. My BIL says we can't do joint loans so I am confused and worried as I always wanted to buy a home for my parents. Hoping that one day that BABA will fulfill my wish
