Home Loans

homeloans

To be eligible for a home loan, the applicant must -

  • Be at least 21 years of age
  • Have a regular salaried income or income under business and profession.
  • Possesses income statement of preceding 6 months

Loan Amount

The loan amount depends on various factors like age, income, number of dependents, qualifications, assets and liabilities, income stability, business, profits, etc. However, there are ways in which the eligibility to obtain a loan and the loan amount can be increased. If a spouse or fiancée is earning, applying together as co-applicants, it can boast the chances of a larger loan amount. In such cases, proof of marriage must be submitted. On the contrary, if there are any co-owners, they must mandatorily be co-applicants. Providing additional security like bonds, fixed deposits and LIC policies may help in enhancing the eligibility to obtain loan... However, the most important factor in sanctioning loans is the ability to repay. The total cost includes registration charges, transfer charges, and stamp duties.

Documents required

Documents required for self-employed persons:-

Updated pass book or photocopy of the applicant’s statement of accounts for the past 6 months. A photocopy of the applicant’s Aadhar Card. A profile of the applicant’s business mentioning the nature of a business, client list, suppliers, employee strength, geographical spread, etc. Also IT return for last 3 years

In case of a business partnership:-

Updated passbook or photocopy of the applicant’s statement of accounts for the past 6 months. A photocopy of the applicant’s Aadhar Card. A profile of the applicant’s business mentioning the nature of a business, client list, suppliers, employee strength, geographical spread, etc.

In the case of a proprietor or professional:-

3 years Profit & Loss a/c. Balance Sheet Income Computation certified by a Practicing Chartered Accountant. Income Tax Return file statement for 3 years is required.

If the company applying for a loan is a Private Limited Company:-

A remuneration certificate, the board resolution for fixing the remuneration. Annual report of the company. Assessee's income tax returns of preceding 3 financial year

Documents required for employed persons:-

Latest salary certificate or the original slip. A photocopy of Form no.16. A (TDS Form) from the applicant’s employer. The original certificate from the applicant’s employer for any other allowances that are not reflected in the applicant’s salary slip. A photocopy of the applicant’s updated bank passbook or a statement of the applicant’s accounts for past 6 months. A photocopy of the applicant’s voter I.D. card or the applicant’s Company's I.D. or the applicant’s passport/ Aadhar Card. A passport size photograph of the applicant & co-applicant.

Disbursement

The loan will be sanctioned after the selection of property and submission of the required legal documents. The process might take some time verification and authentication purposes. The 230 A Clearance of the seller and/or 37I clearance from the appropriate income tax authorities (if applicable) is also required. Once the above has been submitted and verified, the registration of the conveyance deed, investment of the applicant's own contribution and the loan amount will be disbursed by the bank. The disbursement will be in favor of the builder.

Documents required for disbursement:-

    • Loan agreements
    • Disbursement requests
    • Post-dated cheques
  • Personal guarantor’s documents

We offer special home loan packages from

Many more

We also offer you home loans from other leading banks and financial institutions.

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Disclaimer:

We are currently updating our website towards compliance of newly introduced real estate law i.e. the Real Estate (Regulation and Development) Act 2016 and the Rules made there-under (“RERA”), which have been brought into effect from 1st May, 2017.

In the interim, no information, images or material which is currently available / displayed on the website, shall be deemed to constitute any advertisement, invitation, solicitation, offer or sale of any of our product offerings and we shall not accept any such bookings based on reliance of such currently available information, images and material on the website and further shall not be responsible for any consequences of any action taken by any person or authority relying on material/information or otherwise.

We request you to get in touch directly with our sales representatives, please do not rely on any information contained on this website, until the revision and updation is complete. By accessing this website, the user confirms that the information including brochures and other marketing collaterals on this website are for informational purposes only.The same is applicable from 1st May 2017 onwards.

We shall get back to you soon with an updated website, as we are yet to receive a RERA Registration Number.