Property Loan
SIMPLE STEPS TO MAKE PROPERTY BUYING EASy

If you are planning to invest in a property, you must know about the various loan options, processes and issues that could occur. Also, you would need to understand how to choose the right loan for yourself so that you have a great property buying experience. There are various types of loans available. Firstly, you need to evaluate which type of loan would be more advantageous for you.

Before you choose a loan, you may consider the following points –

  • Understand the property type for which you seek the loan.
  • Find out the loan tenures offered by different financial institutions.
  • Know your rights and tax benefits under the Income Tax Act, 1961.
  • Decide between opting for fixed or floating rate loans.
  • Seek the advice of a professional loan expert to understand all the clauses well.
  • Consider the no penalty option wherein you pre pay up to 25% of your loan every year.

Stamp Duty
BUYER'S HANDBOOK TO STAMP DUTY

When you invest in a property, you have to pay stamp duty and registration fee in addition to the cost of the property. In case you avail a property loan for the same, the stamp duty and registration charges can be included in the loan amount, provided the value of the property is up to Rs. 10 lakh. Stamp duty is paid so that the property is transferred in the buyer’s name and the property’s documents are registered. Stamp duty varies from state to state and registration cost is typically 1% of the value of the property. Stamp duty is usually in the range of 4-10% of the value of the property. It is preferable if you avoid taking a loan for stamp duty and registration fees.

EMI CALCULATOR

STAMP DUTY CALCULATOR

0

Whats Up/call now
enquiry