The loan part, explained simply
Almost every family who buys a house here takes a home loan. So we are not going to make you work it out alone.
Which banks
We work with nearly all the major banks. The easiest way to start: tell us which bank you already have your salary account or business account with. That is usually the fastest approval, because they already know you.
From our side, we give the bank the project papers, the approved plans and the title documents it asks for. You do not have to collect those.
What the bank will ask you for
Keep these ready and everything moves much faster.
If you are salaried
- PAN card and Aadhaar
- Last 3 months' salary slips
- Last 6 months' bank statement
- Form 16, or the last 2 years' income tax returns
- Passport-size photographs
If you are self-employed or in business
- PAN card and Aadhaar
- Last 3 years' income tax returns with computation
- Last 12 months' bank statements
- Proof that your business exists
- Passport-size photographs
Each bank has its own list. Check with yours; this is the usual set.
What an EMI looks like
We have not published a price, so we will not show you an EMI with a made-up price in it. But here is the arithmetic, so you can work it out yourself today.
| Loan amount | 15 years | 20 years | 25 years |
|---|---|---|---|
| ₹20,00,000 | ₹19,695 | ₹17,356 | ₹16,105 |
| ₹25,00,000 | ₹24,618 | ₹21,696 | ₹20,131 |
| ₹30,00,000 | ₹29,542 | ₹26,035 | ₹24,157 |
| ₹35,00,000 | ₹34,466 | ₹30,374 | ₹28,183 |
Worked out at 8.5% a year as an example. Your real rate depends on your bank, your credit score and your income. Check with your bank.
Two things people forget:
One. The bank usually lends up to about 80% of the property value. The rest, plus stamp duty and registration, comes from you.
Two. Most banks want your EMI to stay under about 40 to 50% of your monthly income. That, more than anything else, decides how much you can borrow.
What if the loan comes up short?
It happens. Tell us early rather than late.
Sometimes it is solved by adding a co-applicant, like a spouse whose income also counts. Sometimes by a longer tenure. Sometimes by a different bank, because banks genuinely have different rules for the same file.
We have been through this many times. Ask us before you decide it will not work.
Come and stand in it.
A floor plan is a drawing. A picture is a picture. Neither tells you how the living room feels at four in the afternoon.
Tell us when you can come. We will keep the house open, keep an hour free, and walk the avenue with you. Site visits happen every day.