Can i apply more amount than the actual cost of the house i am buying?

Hi Anil,
Iam planning to buy a House costing Rs.40 lakhs, and I need a loan amount of about Rs.38 Lakhs. How much amount should i apply for home loan to get an amount of Rs.38 lakhs ? Iam eligible for getting a home loan for about Rs.48 lakhs.
Also, can i apply more amount than the actual cost of the house im buying ?

Bank will finance 80% of total house cost (in white money). This means that you will get loan only for about 32 lakhs.
Some private banks may finance more than that but chances are low. You have to try.
It does not matter how much you apply for.

They will approve the amount (80% of total cost) only after property value is assessed by their own lawyer.