I am planning to start my own business(in Mumbai,India) and want to take up loan from bank for it.
From the loan amount I would be buying a property(which would be around 1 crore), I got 5 lacs at the moment and am working with a monthly salary of 30,000rs.
But the amount i have would be later spend in the interior of the property.
So will i be able to get the loan and if not what should i need to do.
I dont have any pending loan as this would be my first loan.
With all the amount i get from the bank would go in property only, so will I be getting the loan also advice how should i proceed further.