Home Loan in Bhopal

Now you can get a housing loan in Bhopal at interest rates starting at just 7.10% p.a. Also, you can get up to 90% of the property value as a housing loan. On top of that, you can also get more money than what you have already borrowed through a home loan top up if the need arises.

Compare Home Loan Interest Rate Offered by Various Banks & HFCs in Bhopal

The current home loan interest rates and charges for all leading banks in Bhopal are as follows:

Top Home Loan Providers in Bhopal

Some of the top house loan providers with operations in Bhopal are as follows:

5 Best Locations to Buy Property in Bhopal

Some of the best locations in Bhopal that you can buy a property in are as follows:

• Hoshangabad Road: This particular locale in Bhopal is an up and coming neighbourhood, courtesy of the various builders that are looking to construct residential properties for sale. As of right now, you can choose from over 150 ready to possess apartments and more than 100 villas waiting to be possessed. You can purchase a residential property in Hoshangabad Road at a price tag starting from just ₹3400 per square feet.

• Arera Colony: You can also consider purchasing a home in Arera colony if you want to be surrounded by popular Bhopal-based neighbourhoods such as Habibganj, Chunabhatti, Shivaji Nagar, Shahpura, Trilanga, Shakti Nagar, Kasturba Nagar, Char Imli, DRM Road and Vidya Nagar. As of now, you can pick from over 92 ready-to-possess homes and villas and 50 flats. What’s more, you can purchase a home for yourself in this locale at a price tag starting from just ₹3600 per square feet.

• Katara Hills: Katara Hills is a home to a myriad of ready-to-purchase three and four bedroom apartments for you to choose from. Every year, several reputed builders are setting up new housing projects in an area, which means that Katara hills could be an exciting locale for you to buy a home in. You can now purchase a house in Katara hills for as low as ₹2500 per square feet.

• Saket Nagar: This locale has seen a surge of property buyers, due to the increase in the sheer number of residential properties in this area. You can purchase a home in this area at a price tag starting from ₹4000 per square feet.

• Bagh Mungaliya: You must consider getting a home in Bagh Mungaliya if you plan on being close to neighbourhoods such as Sahara Bypass Road, Bhel Kali Wadi, Ibrahim Pura, Hamidia Road, Shanti Nagar, Aishbagh, Jahangirabad, Loha Bazar, Chiklod Road and Krishna Campus. You can purchase a house in this locale at a price tag starting from just ₹2600 per square feet.

Government Housing Projects in Bhopal

• MP Housing Board: The Madhya Pradesh Housing Board was set up with the aim of providing homes to the people belonging to each and every section of the society. It is responsible for creating about 6000 plots per year. It is one of those Indian housing boards that has not received a single rupee as a grant from the government.

• Bhopal Development Authority: The Bhopal Development Authority was set up in October 1976 under the Bhopal Development Authority Act of 1974. It serves as an apex body for carrying out planning and coordination of development activities in Madhya Pradesh. It essentially conceives, promotes and monitors key projects for the purpose of developing growth centres and bringing about improvement in sectors such as transport, housing, water supply and environment in the Region.

 Features and Benefits of Home Loans in Bhopal

Some of the features and benefits of a Housing Loan are as follows:

• You can get a house loan in Bhopal at interest rates starting at just 6.40% per annum

• Repayment tenures for home loans in Bhopal can be as high as 30 years for you, depending on your eligibility

• 90% of the property value can be secured as a house loan

• You can even get your home loan balance transferred to another lender if you want to repay it with a lower interest rate

• You can also avail a top up of up to ₹1 crore on your current home loan

• You can even avail home loan overdraft facilities

• You can partially or fully prepay your housing loan at zero extra charge if the interest rate on it is calculated as per the floating interest rate system

Eligibility Criteria for Home Loan in Bhopal

The eligibility criteria to get a home loan in Bhopal are:

Documents Required for Home Loan in Bhopal

The documents you will need to furnish to get a home loan in Bhopal are as follows:

For Salaried Professionals

• KYC Documents: PAN card, Passport, Driving Licence, Voter’s ID, Aadhaar Card

• Income Proof: Salary slips of the last 3 months along with bank statements of the past 6 months. You must note that the same must display salary credits in addition to ITR and the latest copy of Form-16

• Property documents such as the deed of sale and the occupancy certificate

• Bank statements displaying the repayment history of the person

• A cheque for the payment of the processing fee

• A copy of your employment contract

For Self-Employed Professionals

• Income Proof: Income Tax Returns of the past 3 years

• Balance sheet and P/L account statements of the past 3 years

• Your savings account statements of the past 3 years along with the current account statement of the corporate entity of the equal duration.

• Latest copy of your 26AS.

• Memorandum of Association (MoA) and Articles of Association (AoA) of the company.

Check detailed documents list to get house loan online