Latest Answer: If we are considering your Dad’s income for Loan eligibility calculation then the maximum tenor that you can avail will be limited to the retirement age of your Dad. So you will get a Max of 8 year tenor for your home loan. Some banks can give you a tenor extension of 2 years and make the total tenor to 10 years, cases like these are subject to deviation and basis the profile of the customer the banks will be willing to look at a higher tenor as well. For ex If your percentage contribution to 12Lks is more than 50% then we can always negotiate basis future increments that will happen in your salary over the next 8 years which will be substantial enough for you to handle the EMI independently even after your fathers retirement. But as we have specified since this is a deviation the case has to be presented to the credit officer separately for consideration or else as per the standard policy you can only get 8 to 10 years Max

Latest Answer: Thank you Kanthi for your reply. I have already read this article. But my question is; why do associations follow the method of "per square feet". Since the maintenance charges are collected to maintain the facilities and amenities which are common to all the people in an apartment, it should be divided equally by the number of flats. How does it relate to one's individual house area? So for example; if an apartment has basic facilities that include electricity consumed for common area lighting, lift, pumping water to overhead tank, and security guard. The expenses incurred for these facilities should be divided equally among the owners/tenants regardless of square feet area of one's individual house. Please let me know if my understanding is correct. Thanks.