Sending $100k to India to buy apartment

Google thjdet
Sep 21 48 Comments

Hello Indians on Blind,

I am looking to buy an apartment in Pune, I have finalized a few set of options. Can someone here give me financial advice on how I should pay for it? The cost is 1.3 Cr. Should I do down payment of 100k upfront and then take a loan for the remainder? Or should I do a lower down payment? Thankfully the $100,000 is a disposable savings in US.

Also, how do I send the money to India, I generally use Remitly or similar to send 5-10k, I do not have a NRI account.

Thank you.

EDIT: please don't troll, let's help each other out?

comments

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TOP 48 Comments
  • Amazon t7gyTH
    Go ahead. And ask Google to open an engineering office in Pune please.
    Sep 21 1
    • Google thjdet
      OP
      Let me talk this over with Sundar in my evening walk tomorrow.
      Sep 21
  • Donut
    Sep 21 1
    • Deloitte / Product
      V.Y

      Deloitte Product

      BIO
      Hi There! How can I help?
      V.Ymore
      🍩
      Sep 21
  • Citrix Systems / Eng ಅವನೌನ ಹಡಾ
    Go ahead and do wire transfer from trusted banks. Don’t do Remitly for such huge amount. I would never prefer loan. So I would give aa much aa possible for down , second question would be is this for investment or settling down ? If investment then be careful of tenants. You can’t watch them from here.
    Sep 21 1
    • Google thjdet
      OP
      Thank you. This is more settling down for parents, upgrading from 1RK to 3BHK.
      Sep 21
  • Microsoft NoThErE2D
    Buy only if it’s to live there, housing is no longer a good investment idea.
    Sep 21 3
    • Google saturdays
      Why no longer??
      Sep 23
    • Microsoft NoThErE2D
      Other avenues will give you higher returns and are liquid.

      House Price will double in 10-15 years. However there will be a 3 year period where it will get most gains. It’s difficult to time it.
      Sep 23
    • Google saturdays
      Thank you for the reply! Good to think about
      Sep 23
  • Microsoft micrusade1
    OP is getting rekt and he thinks it is genuinely a "Don't".
    Sep 21 2
    • Google thjdet
      OP
      I know. What do people get simply by trolling?
      Sep 21
    • Microsoft micrusade1
      Idk man, must be Instagram crowd. Childish.
      Sep 21
  • Microsoft
    fluenza

    Microsoft

    PRE
    Freelancer.com
    fluenzamore
    Don’t
    Sep 21 3
    • Google thjdet
      OP
      This is off topic but why would say that? :-)
      Sep 21
    • Microsoft
      fluenza

      Microsoft

      PRE
      Freelancer.com
      fluenzamore
      Housing market in india is on the brink of collapse. Liquidity is dry everywhere
      Sep 21
    • Google thjdet
      OP
      I hear conflicting stories from all parties, few say now is the right time to buy others say market is going to collapse. This has been going for 5 years now.
      Sep 21
  • HCL bingjee
    I'm going to India soon. I can take it and deliver the money for you.
    Sep 21 0
  • LinkedIn / Eng phatman
    Don't
    Sep 21 0
  • Microsoft / Eng Hickery
    Don’t
    Sep 21 0
  • Walmart qopB15
    Buy your house, transfer through bitcoin, its not illegal in india. Also, prices are rising, mine got 30% increase in 2 years.
    Sep 21 3
    • New / Eng ronney
      Which city?
      Sep 21
    • Amazon goldfish_
      Rising prices? Where?
      Sep 21
    • Walmart qopB15
      Bangalore
      Sep 21
  • New aDBN65
    I recently bought one taking a loan, setup a NRE account and then you can do a wire transfer from BOA etc to NRE account in India. For loan payment, you can setup ECS on the NRE account.

    As per how much loan to take, it depends, if I am renting it out, I would target an EMI equivalent to the rent I would get so that the tenant would pay my loan. If my parents are going to stay, I would do higher down payment and pay less interest to the bank.
    Sep 23 1
    • Okta VVbx01
      I did something similar. My parents were not going to stay but I tried to pay lesser interest
      Sep 24
  • Twitch kTChf7t
    Don’t
    Sep 21 1
    • Google thjdet
      OP
      Okay now this is just trolling.
      Sep 21
  • Commvault abcbac
    BTW, may I know the project name and location for the property which you have finalized in Pune.
    Sep 21 0
  • Amazon Stdu11
    I did this recently by splitting the transfer across multiple services. Max limit in xoom is 50,000, remitly 30,000. I send the rest using western union. It took around a week in total. GL
    Sep 21 0
  • Facebook MCfa52
    Ask Donald trump..he runs a laundering business in India..
    Sep 21 0
  • Amazon / Eng
    weeeeeeee

    Amazon Eng

    BIO
    AWS
    weeeeeeeemore
    Don’t
    Sep 21 0
  • LinkedIn brooklin
    Don't
    Sep 21 0
  • Okta VVbx01
    Buy it. I recently did the same. Used NRI/NRO account to transfer. Did take a small loan because I saw a few advantages to that.
    Sep 21 1
    • Bloomberg LOL<GO>
      How did you transfer the money ?
      Sep 21
  • Google thjdet
    OP
    My question is not if I should go ahead or not, it is how should I send money.
    Sep 21 1
    • Google thjdet
      OP
      It's illegal in India.
      Sep 21
  • New / Product
    camancho

    New Product

    PRE
    Orange
    camanchomore
    Don’t
    Sep 21 1
    • Google thjdet
      OP
      You just wasted your and my time. Write your reasons.
      Sep 21