agraharaestates.com

  • sales@agaraharaestates.com
  • +91 9901750541
  • +91 9900974717
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We Got You Covered With Our Loan Services :

  1. Loan processing
  2. Scheduled sanctions
  3. Loan document listing
  4. Submission of loan papers and documents to the financial institutions
  5. Document process completion with buyers and sellers
  6. Required processing papers & documentation procurement.
  7. Loan cheque collection and regular follow up with the concerned institution.
  8. Loan cheque arrangement on the day of registration.
 

We Have Tie-Ups With All Major Banking Sectors

Housing Loans FAQ

Loans beget a lot of questions and hence, we have compiled a list of frequently asked questions for you

Individuals in the age group of 18 to 55 years, including Non Resident Indians (NRIs) who fall under the given below categories are eligible for housing loans:
 
  • Working individuals (confirmed to be in job) with minimum service of 3 years.
  • Businessmen and self-employed individuals like doctors, architects, chartered accountants etc.
Eligibility relating to upper age limit has selective relaxation, but subjected to certain conditions. However, entire loan should clear before the borrower attains the age of 70 years.
  • Purchase of plots, built properties (houses) and flats.
  • Construction of house or flat.
  • Purchase of site and construction of a house thereafter.
  • Undertaking expansion of existing property, upgrading and creation of additional amenities for the same.
  • For undertaking repairs and renovations.

When the family income includes the income of the applicant and the spouse as well, the spouse’s income shall determine the repayment capacity and compliance of NTH stipulation, provided that the spouse joins the execution of loan documents, either as a co-obligant or as a guarantor.

Yes, we will consider agricultural income if it has supporting land records and income report in Income Tax Returns, though not taxed.

Margin should contribute before disbursement of the loan. However, pro-rata and stage-wise contribution of margin is selectively permitted.

The construction of house should commence within a maximum specified period by the bank. This period entirely depends on the loan issuing bank and may be subjective to changes.

For a salaried individual, maximum loan shall limit to four years’ gross salary. This is subject to minimum Net Take Home Salary (NTH) of 40%, after the deduction of installment (EMI) towards the proposed loan. Selectively, NTH stipulation may reduce to 25% of gross salary.
 
For a non-salaried individual, maximum loan quantum shall limit to four times gross annual income of the concluded financial year. During this, the housing loan is sought to avail or four times of average gross annual income of all the four years.
 
Regardless of all the above cases, higher quantum will consider selectively subject to certain conditions.