Home Loan Articles

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.....

When you want to turn your dream of becoming a homeowner into reality but do not have the necessary funds to do so, you can always go for a home loan. 

But, if you think that your own personal eligibility is not sufficient, you can always get a co-applicant on board an.....

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 ₹100. Therefore, purchasing a house always requires registration of the property at the Sub-Registrar's office. The house registration p.....

When an individual sells property that they have been owners of for many years, there is a good chance that they have profited from the sale. If that is the case, they are liable to pay what is known as the Long Term Capital Gains Tax (LTCG). But, if the property seller is using the gains made fr.....

Property tax is also referred to as house tax. It is implied on real estate owners by various municipal authorities such as a municipal corporation, municipality, or panchayat in all the rural and urban areas of India. The duty of a municipal authority is to maintain the quality of basic public f.....

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.....

You can either buy a home in your name or you can make your wife a joint owner. But, what you probably did not know is that buying a house solely in the name of your wife can come with several benefits. This article will tell you everything about the positives of doing so. Read on to know more.

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 .....

Simply put, the carpet area means the total area of a house that you can cover with a carpet. Essentially, it is the area of the dwelling that is usable by you. The carpet area would exclude the likes of your balconies and terraces, but they will include any internal walls that might be a part of.....

Notice of Intimation (NOI) is a part of the home loan registration process. It is normally submitted to inform the registrar’s office regarding the disbursement of a home loan. It came into effect on 1st April 2013 to curb the fraudulent activities related to the properties, such as multiple regi.....

For homebuyers, financing a home loan can be a complicated and lengthy process. Hence, to make an ideal choice, it is important to have thorough knowledge about which kind of interest rates regime suits your needs. The two possible financing options for a borrower are fixed interest rate .....

Along with interest rates, various charges associated with a home loan influence the amount you need to repay. 

Hence, you must get acquainted with the upfront costs as well as home loan hidden charges when availing of a loan.

A home is one of the essential factors of livelihood that offers safety and security to your family and is the most cherished possession. People spend their life savings to make their dream home. With time, the need for some improvements and modifications in your home might arise. With the presen.....

Home loans have become a popular tool for many people wishing to purchase homes. While the desire to own homes has increased, not everybody has the funds to immediately purchase a home. As a result, a lot of people are turning to home loans today to build their dream home.

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Real Estate Investment Trusts are corporations that operate on real estate properties to generate profits. REIT corporations maintain high-value portfolios through real estate properties and mortgages. Their major operation is leasing properties and dividing the collected rent among the sharehold.....

If you have borrowed a home loan to meet your goal of owning a dream home, you are certainly aware of your repayment schedules. You have planned your finances accordingly and are paying EMIs. But what happens when there are unexpected circumstances which may alter your best-laid plans? A sudden f.....

Public sector banks are financial institutions in which the Government of India holds a majority stake. More specifically, the Ministry of Finance is a significant shareholder in public sector banks. 

As a part of public sector units or PSU, banks follow the financial .....

The meaning of Benami is 'no name' or 'without a name.' A Benami property is one in which a person uses a fake identity instead of his/her original identity while purchasing a property or doing any transaction. 

Due to the surge in these kinds of cases, the Indian gove.....

When in need, an average Indian avails of a loan from a bank or an NBFC. Some of the applicants may get confused when they hear the names of the banking services for the first time. Often such a situation arises when they don’t understand the difference between a loan against property and a home .....

A home loan can help you achieve your dream of buying or building your own house. However, it is also a serious financial commitment that you take on. To repay it on time and as per the schedule set by the lender, you need to have long-term financial discipline. This is because the repayment tenu.....

Buying a home is often an aspiration nurtured over many years before one finally decides to take the plunge and buy it. It is important to take several factors into consideration while buying a house and it is especially essential to assess the credibility and trustworthiness of all the different.....

In common usage, buying a new home or a plot of land could be termed the same - buying property. As the term doesn’t matter when it is not used for general purposes, it is popular among the common people. However, there are important differences when we compare land loans vs. home loans. This sho.....

The Indian real estate market has always been buzzing with activity for several decades now. Despite occasional dips, real estate has witnessed tremendous growth over the years. Data now shows that the Indian realty sector is poised to hit a record value of Rs. 65,000 crores by 2024. And by 2025,.....

If you decide to buy a house, there are many advantages and disadvantages here as well. It is essential to know what they are, so you can make a more informed decision about whether it is better to rent or buy a house.

Pros of Buying a Home

Buying a home has the following advant.....

Real estate investment is one of the most important financial commitments, and a wise investment has the power to transform your life. While there are benefits to investing in real estate, there are drawbacks as well. The right decision can lead you to live your dream whereas the wrong selection .....

A home loan can help you realise your dream of constructing or purchasing your own house. But a house property can cost Lakhs of rupees, and you will have to take a sizable loan to pay for the asset. If you are not careful, your home loan EMIs may overshoot your budget. 

Section 80EE and Section 80EEA of the Income Tax Act allow first-time homebuyers to claim deductions from their net taxable income. A maximum deduction of ₹50,000 and ₹1,50,000 can be claimed under Section 80EE and Section 80 EEA respectively on the interest portion of the 

HRA refers to the House Rent Allowance. It is a component of your salary that you receive in case you rent a house for your residence. For HRA, you receive tax exemptions under Section 10(13A) of income tax. Another important part of an individual's income tax deductions may be the home loan inte.....

All banking institutions in India are required to hold a certain fixed proportion of the sum total of their deposits in the form of cash, with the country’s apex banking institution, the Reserve Bank of India. This percentage of assets maintained in the form of cash is referred to as the cash res.....

When potential home buyers are on a house hunting spree, they have two options. They either buy a new constructed home or have the option of buying an old house on resale.  Some people like the home offered for resale. They don’t want to wait till the possession of an under-construction house. If.....

Loans have become significant financial instruments allowing individuals to meet their aspirations, ranging from medical emergencies, short-term cash flow gaps and building long-term assets like a home. Most financial institutions extend a wide range of financial products, such as personal loans,.....

Inflation usually occurs when there is more supply of money within the economy, leading to a decrease in relative value of currency. It causes an increase in the prices of goods and services within an economy. 

As a result, a country makes changes in their monetary pol.....

On April 1, 2016, the Reserve Bank of India (RBI) introduced a new set of guidelines that commercial banks must follow while deciding the lending rates for their borrowers. These guidelines, known as the Marginal Cost of Funds-based Lending Rate (MCLR), were introduced with the intention .....