Home Loan Articles

2021 has brought with it new hopes, expectations, ambitions, roadmaps, and goals. It has given us an opportunity to start afresh with renewed spark, learn from past mistakes, prepare a new strategy and focus towards the best that has to be achieved. It's also a time to chalk out new priorities: h.....

Buying a home is akin to marking one's imprint on a parcel of land and having an enclave of serenity in the rush hour of life. It's for this reason that possessing a home of one's own remains a top priority for most people irrespective of their other aspirations. With readily available financing .....

Purchasing a property on resale value , regardless of whether it is under construction, recently built, ready to move in, or a seasoned one, comes with its own advantages.

Buying and moving to a new house can be exciting and stressful at the same time. Everybody wants a comfortable, cosy and beautiful home for themselves and their family. If you are planning to buy a new house and are looking for a home buying guide, read on to take a look at an easy to understand .....

A top-up loan is an additional loan taken over and above your existing loan. A top-up on home loan is offered to existing loan borrowers to finance their need for additional financing. Howev.....

Purchasing a home can be quite challenging especially for a first time home buyers. All things considered, there are endless things and requirements that you might be restless about committing a costly error. In order to finance your home purchase, you might consider getting a home loan from a re.....

The government has declared tax relief under Atmanirbhar Bharat 3.0 package that will help people buy a new residential property of up to Rs. 2 Crores. Without receiving any tax penalties, buyers were permitted to buy homes at 20 percent below the circular rate. The circle rate is the value speci.....

India’s first credit bureau, TransUnion CIBIL Ltd, is renowned for providing credit score to the customers based on their credit profile and repayment history. began giving cred.....

There can be multiple reasons why a person may be in a situation of financial crisis in their life. What is required at the time of a financial emergency are proper resources and information. It is always very important for you to have the ability and support to be able .....

A home loan can help you to buy your dream house. But once you have availed a home loan, and then receive an additional income through annual bonus or any other lump sum payment, you might wonder about making a home loan part payment. Typically, there is zero/minimal penalty for part or complete .....

Home loans have always benefitted countless people, it is an easy way to finance a home purchase, build a house or own a property. However, lack of funds is not the sole reason for applying for a home loan; there are numerous other benefits that are tagged along with the loan. A home loan has zer.....

Introduction

The Prime Minister of India, Narendra Modi, made a promise to provide “Housing for all by the year 2022”. This was done so under his housing scheme wherein houses would be constructed in rural areas under the plan known as the Pradhan Mantri Awas Yojana- Gramin or PM.....

The Real Estate Regulatory Authority (RERA) Act, 2016 is designed to protect the interest of home buyers and attract more investment in real estate. The bill was approved by the Rajya Sabha (Upper House) on March 10, 2016. The Act was introduced in 2013 by the Indian National Congress Government......

There is hardly anything more enjoyable for a hardworking professional than the appraisal time and the bonus that it brings. Certainly, you have already received your year-end bonus or are awaiting it. Now, it is the right time to plan how you are going to utilize this bonus. There is a te.....

India’s real estate sector has typically been driven by demographics – a fast-growing population and urbanization have resulted in an ever-increasing demand for new homes, especially in the economic and commercial centers that have good job-creation prospects. Nevertheless, when it comes to deman.....

In recent years, home loans have proved to be an effective source of financing for home buyers. By availing it, millions of people across the country have realized their dream of purchasing their dream house. Different financial institutions provide home loans with different terms and conditions......

Almost everyone dreams of getting a home, to put down roots and be responsible for their own little corner of the world. When buying a house you require a basic overview. This is especially true if you are purchasing a home for the first time and you aren't quite familiar with the process. Howeve.....

Section 17 of the Registration Act, 1908 makes it mandatory to register any transaction you make towards buying an immovable property if it is priced more than INR 100. It will not be an assumption to say that you will not find a new house in India that is worth less than INR 100. So, buying the .....

Homebuyers are eligible for various tax benefits while purchasing a property. Under section 54 of the Income Tax Act, individuals are eligible for tax benefits if they purchase a residential property by selling their existing property. The amount of exemption will either be the capital gains aris.....

In the past, any person would have been satisfied to have a roof over their heads as owning a home was considered a luxury. But now, the situation is different. The availability of home loans have boosted the growth of real estate in the country. The increasing popularity of home loans brought ho.....

If you do not have any idea about what is property tax, this article will help you get a better idea about it. If you own a house or any property in India, the municipal authority of your area charges you a tax on it. You have to pay this tax on any real estate you own, and the tax amount de.....

In today’s time, it is important to make smart investments. By investing your hard-earned money wisely, you can not only achieve financial goals but also secure your future to a certain extent. Nowadays, there are several investment options available in the market. However, as an investor, it is .....

With the growing financial literacy of the country, a large number of citizens are looking forward to making investments to obtain fruitful returns. One such investment option that holds the potential of earning high returns is the real estate investment. Any type of property, be it a residential.....

Availing a home loan is a long term financial obligation and hence you must evaluate your creditworthiness carefully before applying for a home loan. Over the years, home loans have gained massive popularity due to the competitive interest rates and other attractive features associated with them......

Every time the Reserve Bank of India (RBI) reduces the policy rates, some questions like “Will the benefits of rate cuts help or will the equated monthly installments (EMIs) reduce?” would pop up. The RBI has reduced the rates by 135 basis points during this year. One basis point is equivalent to.....

If you are planning to own a home along with your spouse/partner, you can easily avail several tax benefits on your home loan. This home loan could be a joint home loan, which you and your partner can avail together.

On April 1, 2016, the Reserve Bank of India introduced the Marginal Cost of Fund Based Lending System (MCLR) as the new rate system for commercial banks and other money lending institutes in India to grant loans.

The marginal cost of funds based lending rate, or MCLR, as it is commonly called, is the minimum interest rate set by the Reserve Bank of India on different types of loans. No bank or non-banking financial companies (NBFCs) can lend a loan with an interest rate that is u.....

In today’s age of inflation, land and property prices have gone through the roof. Hence, it goes without saying that availing a home loan is the most convenient option to buy a property. However, in a desperate bid to buy a home, many buyers’ sign up for home loans witho.....

The amount borrowed for a home loan is generally on the higher side as compared to any other type of loan. Still, owning a house of their own is a dream for many, which is why home loans enjoy considerable popularity in the debt market. Today, there is no dearth of home-loan providers. These lend.....

Purchasing your first home is one of the most exciting financial milestones of your life. Although it may seem like a complex process, it is an essential step when it comes to providing a stable environment for your family. Taking “the big step” of buying a home might ma.....

In today’s world, buying a home of your own is a like achieving a great feat However, working around your monthly income to incorporate the home loan EMIs without taking a hit on your lifestyle is no easy feat, which is why most people opt for a home loan. Although there are a lot of home loan pr.....

Property-related costs in India are escalating by the minute. In such a scenario, buying a ready-to-move -in house could prove expensive. The same is true if you are buying a ‘resale’ house with high market value. As compared to these options, the purchase of an under construction property is rea.....