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Rental agreement with bank

credit_noob

TF Select
In my area, there’s an ABC Bank that has become quite old and has issues with water leakage. It’s also small, with a yearly turnover in crores, and there are no other banks within a 15 km radius. The bank has asked people to construct buildings, offering loans for construction, and they will take the building for rent under a minimum 10-year rental agreement.

Four people applied for this opportunity, but three backed down due to pressure from one individual. Only one person successfully submitted their application; he owns land opposite the current bank location.

Let me introduce myself: my uncle owns land to the right of the bank, and there’s a government building between his land and the bank that houses a society bank and a sachivalayam. My uncle owes a lot of money to others and is now selling that land at a cheap price. I have the funds to buy the land, so I went directly to the bank for details. They told me that if I fill out an application and I am selected, they will provide a blueprint for construction they give loan for construction, which includes a plain building with a strong room. bank will handle the shelves, desks, wiring for the inverter, generator, siren, internet, etc.

I’m 26 years old, working as a software engineer at TCS for the past three years, and I have no support since my father has passed away. It’s just me and my mother, and I have no help from relatives.

My questions are:​

  1. What should I consider before moving forward?
  2. Am I putting myself at risk by going against wealthy individuals who might have more influence?
  3. If I proceed, what precautions should I take with the bank, my uncle, and any opponents?
The bank manager mentioned that if I agree, they will process the application based on astrological factors, suggesting that my location has the right orientation according to Hindu ideology, which might increase my chances if I apply.

If members need any details or have any questions, I will be online in this forum all day and will respond quickly.
 
In my area, there’s an ABC Bank that has become quite old and has issues with water leakage. It’s also small, with a yearly turnover in crores, and there are no other banks within a 15 km radius. The bank has asked people to construct buildings, offering loans for construction, and they will take the building for rent under a minimum 10-year rental agreement.

Four people applied for this opportunity, but three backed down due to pressure from one individual. Only one person successfully submitted their application; he owns land opposite the current bank location.

Let me introduce myself: my uncle owns land to the right of the bank, and there’s a government building between his land and the bank that houses a society bank and a sachivalayam. My uncle owes a lot of money to others and is now selling that land at a cheap price. I have the funds to buy the land, so I went directly to the bank for details. They told me that if I fill out an application and I am selected, they will provide a blueprint for construction they give loan for construction, which includes a plain building with a strong room. bank will handle the shelves, desks, wiring for the inverter, generator, siren, internet, etc.

I’m 26 years old, working as a software engineer at TCS for the past three years, and I have no support since my father has passed away. It’s just me and my mother, and I have no help from relatives.

My questions are:​

  1. What should I consider before moving forward?
  2. Am I putting myself at risk by going against wealthy individuals who might have more influence?
  3. If I proceed, what precautions should I take with the bank, my uncle, and any opponents?
The bank manager mentioned that if I agree, they will process the application based on astrological factors, suggesting that my location has the right orientation according to Hindu ideology, which might increase my chances if I apply.

If members need any details or have any questions, I will be online in this forum all day and will respond quickly.
Answer is simple

If you say earn 12 lakh
And land you gonna buy is 25 lakh

You can easily buy as investment without this bank thing
As land is limited and it only increase


2nd coming to bank and loan for building

How many year of lease !
If they aquire for least 5-7 year you are good .

For contract, who knows


But land you can buy anyways are stock market is okiesh till next march due to American election and wars
 
Answer is simple

If you say earn 12 lakh
And land you gonna buy is 25 lakh

You can easily buy as investment without this bank thing
As land is limited and it only increase
i have other plans to start business but only buying because surrounding land become commerical land once bank started
How many year of lease !
If they aquire for least 5-7 year you are good .
manager said min 10 years agreement
FYI current old bank building land previously owned by my uncles father he sold to bank around 30 years ago
 
Depends how much you earning and how much u saved and when u plan on marry

If you can eat strees free after emis and have no fancy urges to upgrade your lifestyle suddenly
You will manage your struggles
i am earning 70k per month having assets worth 3cr to 4.5 cr and debt owned to bank 9L... as per manager loan emi will be cover by bank rent,.so i even have running loan with other bank they give fresh loan based on this rental agreement
 
i am earning 70k per month having assets worth 3cr to 4.5 cr and debt owned to bank 9L... as per manager loan emi will be cover by bank rent,.so i even i have running loan with other bank they give give fresh loan based on this rental agreement
i have not calculated personally but manager said first 10 years no profit no loss as rent paying loan emi and loan emi reduce with time but rent increment 10% per year same time land value increase with time
 
i have not calculated personally but manager said first 10 years no profit no loss as rent paying loan emi and loan emi reduce with time but rent increment 10% per year same time land value increase with time
Building a building is profit 😄 itself

You are dealing with bank make sure you are figured with law

For land - buy everything in cheque through banks with money trail
 
Building a building is profit 😄 itself

You are dealing with bank make sure you are figured with law

For land - buy everything in cheque through banks with money trail
thank you for suggestions.. any idea how to deal with influential people.. i am doing everything legally but i am not sure how things go
 
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