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Sir,
I am a senior citizen aged 71 and my wife is 68 years old.I own a house in a prominent locality in Bangalore,with 2550 sft land and 2600 sft built up area(g/F-30 years old and f/F 10 years old.I intend to occupy the first floor, which is mandatory for RML.The balance of loan with SBI is Rs.4.60 lakhs. The present value as per guidelines is itself about rs.3 crores.I need about Rs.50 lakhs for repairs and for education of my grand daughter and to meet my medical expenses. Can I repay part of loan availed for my daughters marriage and other expenses.Your advise will be useful to take decision. Regards,M.S.Balu