Hi all, just got news that the property bank rates is determined by the bank itself and therefore it have a very different rate for each bank. + how much would very much be depend on your credibility.

On another issue I heard from my father in law that last time he purchased a house and I think at the rate of blr-2.2 I think. But after a few years the bank changed the rate to blr -1 or something like that. According to him it was stated in the bank agreement that the bank reserve the rights to change as and when they see fit. I Am not sure if anyone come across this. But banks are usually blood sucker and I would think they would want to benefit from the this new ruling (by adding some interest to it).

I attended a talk from some gst expert. What they said was just surface infor correct me if I am wrong. He mentioned that GST would depend very much if you are a registrant or not. If you are not a registrant the other person don't need to pay tax. But if A registrant deals with another registrant then it would be subjected to GST on the property pricing. It doesn't matter if it is a commercial or residential.