#best loan against property in Kolkata

[saheniindexia]

Loan Against Property in Kolkata: Choosing the Right Option

Introduction to Loan Against Property

A loan against property in Kolkata, also known as a mortgage loan, is a secured loan that allows individuals to borrow funds against the value of their property. Whether it's residential or commercial property, LAP provides a convenient financing option for various purposes, including business expansion, debt consolidation, education, or medical emergencies. Selecting the best loan against property in Kolkata is essential to access competitive interest rates and flexible repayment options. When faced with financial needs or opportunities, leveraging one's assets can be a viable solution. In Kolkata's dynamic economic landscape, a loan against property serves as an excellent option to unlock the value of your real estate assets. However, choosing the best loan against property provider is crucial to ensure favorable terms and a seamless borrowing experience.

Criteria for Selecting the Best Loan Against Property

When evaluating loan against property providers, several factors should be considered to identify the most suitable option:

Interest Rates

Competitive interest rates play a significant role in determining the affordability of a loan against property. It's crucial to compare interest rates offered by different lenders to secure the best deal.

Loan-to-Value (LTV) Ratio

The loan-to-value ratio, which represents the percentage of the property's value that can be borrowed, varies among lenders. Higher LTV ratios enable borrowers to access more significant loan amounts, making it essential to choose a lender offering favorable terms.

Loan Tenure and Repayment Options

Flexible loan tenure and repayment options allow borrowers to tailor the loan repayment schedule according to their financial capabilities and preferences. Consider lenders that offer extended repayment tenures and options for part-prepayments or foreclosure without penalties.

Comparison of Loan Against Property Providers

Before finalizing your decision, it's essential to compare various aspects such as interest rates, loan products, and customer service offered by different loan against property providers. Conducting thorough research and weighing the pros and cons of each option can help you make an informed decision.

Factors to Consider Before Choosing a Loan Against Property Provider

In addition to interest rates and loan terms, several other factors should be taken into account when selecting a loan against property provider:

Processing Time

Consider the turnaround time for loan approval and disbursal, especially if you have urgent financial needs or time-sensitive projects.

Eligibility Criteria

Ensure that you meet the eligibility criteria set by the loan against property provider, including factors such as income, property valuation, and credit history.

Hidden Charges

Be vigilant about hidden charges such as processing fees, administrative fees, and prepayment penalties, as they can significantly impact the overall cost of borrowing.

Benefits of Choosing the Best Loan Against Property Provider

Opting for the best loan against property provider offers several advantages, including:

Competitive Interest Rates

The best loan against property providers offer competitive interest rates, helping you save on interest costs and reduce the overall financial burden.

Higher Loan Amounts

Providers offering higher loan-to-value ratios enable borrowers to access more significant loan amounts, providing greater financial flexibility.

Flexible Repayment Options

Flexible repayment options allow you to customize the loan repayment schedule according to your financial capabilities and preferences, ensuring ease of repayment.

How to Apply for a Loan Against Property from the Best Provider

Applying for a loan against property from the best provider is a straightforward process:

Documentation Required

Gather the necessary documents, including property documents, income proof, identity proof, address proof, and employment details, as per the lender's requirements.

Online Application Process

Many loan against property providers offer the convenience of online application processes, allowing you to submit your documents digitally and track the status of your application in real-time.

Approval Timeline

Once you submit your application and documents, the loan against property provider will assess your eligibility and process your application. The approval timeline may vary depending on factors such as the lender's internal processes and the complexity of your application.

Conclusion

Selecting the best loan against property provider in Kolkata is a significant decision that can impact your financial well-being and borrowing experience. By considering factors such as interest rates, loan-to-value ratios, repayment options, and customer feedback, you can identify a lender that offers competitive financing options and supports you throughout the borrowing process.

[carloancompanyinkolkata]

Retail loans consist of business-related loans which are an all-rounder in the business industry. Business loans are the most taken and much profit is seen in these contracts. Finbasket helps all those businesses that have suffered cash flow or loss in the business. Such kind of helpful company is less seen and the loan against property in Kolkata is rarely seen.

[aradhya21]

Jan-Mar housing sales up 9% to 78,627 units: Knight Frank India

Housing sales rose 9% to 78,627 units during the January-March period, most noteworthy quarterly deals over the most recent four years, across eight significant urban areas, as per property specialist Knight Frank India.

Last week, two different specialists Anarock and PropTiger delivered their information for private business sectors.

Anarock said that lodging deals across seven urban communities expanded 71% in January-March to 99,550 units, while PropTiger detailed that deals expanded 7% year-on-year to 70,623 units during January-March across eight significant urban areas.

"In the principal quarter of 2022, 78,627 new homes were sold across the best eight urban communities which was higher by 9% YoY (year-on-year) as against same time last year," the advisor said in an explanation.

"This far surpassed the pre-pandemic normal quarterly deals volume for the third back to back quarter meaning a supported recuperation popular the nation over," it added.

Lodging deals in DelhiNCR dramatically increased to 15,019 units, while Bengaluru saw 34% development in lodging deals at 13,663 units.

Ahmedabad developed at 35% with deals of 4,105 units.

Lodging deals in Hyderabad became only one percent at 6,993 units, while Kolkata likewise saw an exceptionally peripheral ascent of 1% in deals of new homes at 3,619 units.

Be that as it may, Mumbai saw deals of 21,548 new units in January-March 2022, enlisting a 9 percent decline from the year-prior period.

"Pune kept deals of 10,305 new homes in Q1 2022 which was lower by 25% YoY. While the drop appears to be significant, it should be noticed that the base period was a record quarter as far as deals because of the stamp obligation cut given by the state government to boost deals around then," Knight Frank said.

Chennai saw a drop of 17% in deals to 3,376 units during January-March 2022, contrasted with the year-prior period.

Shishir Baijal, Chairman and Managing Director, Knight Frank India, "the development in the private market has been noteworthy for the vital business sectors of India throughout the last couple of quarters, because of a reinforcing economy as well as individual monetary certainty."

"Low loan costs, best moderateness levels, solid compensation development and the winding down pandemic with lower chance of additional disturbances have established a good climate for homebuyers who have rediscovered the requirement for new and better lodging," he added.

While monetary pressure stays a huge element for engineers across business sectors, Baijal said sound and supported homebuyer movement ought to prepare for progressive cost increments and empower them to hold over the ascent in expenses of basic information sources like concrete and steel.

Lodging costs rose across all business sectors in the scope of 1-7 percent year-on-year, Knight Frank India said.

[unimarkgroup]

Why Unimark is the best option for real estate investment in kolkata

Unimark Group is one of the most up and coming real estate developers in Kolkata which has built splendid apartment cum commercial complexes within counted properties to bring out consumer comfort and gratification. Their addresses include Unimark Riviera, encompassing the 2 BHK flats in Kolkata and 3 BHK flats in Kolkata, EM Bypass, at affordable prices apart from Unimark Springfield, Lakewood Estate, and Unimark Sports City – Kolkata's First Sports themed residence in Jessore Road, Barasat.

 As per the general opinion, very few other investments offer the same good returns on your money or create personal wealth as real estate does. When investing, it is important to know when and where to invest by dissecting the market for all probable profits. Elements like property location, phase of the market cycle, property type, and every other aspect of the market and the conditions influencing it are crucial. Since it is much safer to invest in than the share market, here are some elaborate advantages:

 1. Prosperous future:

Steady growth and predictable cycles based on certain factors help investors make accurate predictions. To maximize your returns, it is imperative to make transactions at the time when the market is at its peak. The same cannot be said equity and bond markets.

 2. Useful to avail of a home loan

One of the most advantageous benefits of having a property is that it can be leveraged and used as collateral security to buy another. This is because it is an appreciating asset. Availing a home loan, allows the owner/loan-taker to retain their rights over the asset and it is a win for the institutes too since they can recover their amounts in case of a default.

 3. Hedge against inflation

When investing your money in 2 BHK flats in Kolkata, it is important to understand that your returns must be more than the rate of inflation. With a rise in the value of the property, the outstanding home loan decreases and rental income sustains payment easily. It is an easy bet in the investment domain?

  All stunning locations with easy accessibility to the airport, schools, hospitals, public transport, and markets, come with state of art architecture and gardens that make premium flats a complete package that cannot be missed.

 They have 24X7 Security surveillance along with a Modern fire-fighting alarm system as per govt. Regulation and prioritize sustainable living with amenities like Rainwater harvesting system and Water treatment plant. It also has a Hi-Tech Gymnasium, Swimming pool for adults and kids coupled with a Spa/steam & massage room. Fit with an air-conditioned banquet hall with a service area, In-house cafeteria, and a Mini-movie theatre. The 3 BHK flats in Kolkata by Unimark is one of the best possible options to live in the entirety of Kolkata.

Unimark Group is one of the most promising luxury residential brands that come at a very affordable brand to all middle-class families and individuals with global standards, High-class gardens, modern shopping plazas, easy conveyance, and nearby markets in just 2 BHK flats for sale in Kolkata.  

[vishalsbpseo]

Impact of GST on Real Estate and Homebuyers

Purchasing a property involves a lot of paperwork and payments such as registration fees, TDS, stamp duty, GST, etc. It is essential for the homebuyer to know these charges and to stay up to date with them especially about GST.

Before the GST entered into operation, through the construction of a housing estate, a number of state and central taxes were levied on houses. Although the cost of project construction for developers increased with these taxes, no compensation against this tax was offered to builders against the production liability. Value Added Tax (VAT), Central Excise, Entry Tax, LBT, Octroi, Service Tax, etc. were some of the taxes that real estate developers had to pay before the GST entered into force. The expense paid by builders for these taxes was then passed to the buyer of the house.

In addition, as consumers had very little clarity about the different taxes and the prices applicable, developers were often able to manipulate statistics to hold the offer to their best advantage. For a consumer, it would’ve been an extreme challenge, to find out the VAT, Central Excise, Entry Tax, LBT, Octroi, and Service Tax rate applicable to real estate property development.

On July 1, 2017, the GST regime was introduced in India. I India’s biggest tax reform after Independence, the GST incorporated several indirect taxes in order to give the taxpayer a uniform system. The GST for real estate was initially kept higher, but the rate was decreased by the government in 2019. This was achieved in an attempt to make the property more affordable for the common man and to raise their ambitious ‘Housing for All’ aim by 2022.

GST rate on property

The government has reduced the GST rate on property transactions substantially with the goal of stimulating demand in the midst of a prolonged slowdown. This could theoretically decrease the pay-out of the buyers by 4 percent -6 percent on the overall purchase, experts say. While the new tax rate without an input tax credit ( ITC) would apply to all new projects, builders have been granted a one-time option for their existing projects to choose between the old and new rates by May 20, 2019. This bid was only valid for projects that were unfinished as of 31 March 2019. The government’s decision came when, in the absence of ITC, the developer group expressed doubts about tax liability.

Under GST, what is the input tax credit (ITC)?

The ITC system, which makes it distinct from the previous tax system in India, is a special feature of the GST rule. From the beginning of a residential property, until its completion, a real estate developer pays tax several times on the purchase of goods and services. The builder will earn an input tax credit under the GST regime when he pays his production tax.

As a tax on his final product, a developer has to pay Rs 30,000. As an input fee, the developer already has paid Rs 23,000, while buying materials such as steel, cement, paint, etc. In this case, after changing the input tax allowance, he will just have to pay just Rs 7,000 as an output tax.

As per GST, what is affordable housing?

Housing units worth up to Rs 45 lakhs identify as affordable housing under the government-determined description. The unit must, however, adhere to certain specifications as well. If it costs up to Rs 45 lakhs and measures up to 60 sq meters (carpet area), a housing unit in a metropolitan city qualifies to be an affordable home. As metropolitan cities, the Delhi-National Capital Region, Bengaluru, Chennai, Hyderabad, the Mumbai-Mumbai Metropolitan Region, and Kolkata are classified. A housing unit in any other city, excluding those mentioned above in India, qualifies as an affordable home if it costs up to Rs 45 lakhs and has a carpet area of up to 90 sq meters.

GST on home loan activities

As far as the borrower is concerned, although the GST is not applicable to home loan repayment, financial institutions provide many ‘services’ as part of home loans. The applicability of GST falls into the picture on the basis that these are facilities. Consequently, the bank will charge GST for the transaction fee, technical valuation fee, and legal fee if you are taking a home loan.

The impact of GST on affordable real estate

The presence of different taxes prior to the GST could not have overly affected property prices. Nevertheless, the tax calculation for the home buyer was a tedious operation. As a result, not many buyers will venture to find out the different taxes that added up to the property’s final price. While there are still many teething problems, the effect of GST on the property is that it provides homebuyers with more clarification about their tax obligation than the previous scheme. With the GST effect on the real estate sector leading to greater accountability, investors will have more confidence in India’s property transaction taxation. In addition, even if the prices are lowered slightly, properties will become more affordable. Here’s a look at how to measure GST on flats’ acquisition in the affordable housing segment:

Combined with these cost advantages, the GST effect on the real estate sector is expected to steadily increase buyer feelings.

Remember here that taxes like excise duty, value-added tax, customs duty, inputs and service tax depend on approval charges and architectural professional fees, labor charges, legal fees, and entry taxes depend on raw materials. These were among the costs that builders in India had to bear on housing project growth.

Although the government has already cut GST rates for real estate and there may be no room for further lowering of rates for the sector, industry experts believe that lowering rates for other goods and services may cause real estate investments at a time when home sales have dropped due to the post-Coronavirus pandemic economic crisis.

Industry bodies, such as ASSOCHAM and NAREDCO, have already proposed that for a fixed tenure, the government should reduce the GST for different goods and services by up to 50%.

For any more information related to real estate, you can read other articles of SBP Group.

[sbpgroupprojects]

Impact of GST on Real Estate and Homebuyers

Purchasing a property involves a lot of paperwork and payments such as registration fees, TDS, stamp duty, GST, etc. It is essential for the homebuyer to know these charges and to stay up to date with them especially about GST.

Before the GST entered into operation, through the construction of a housing estate, a number of state and central taxes were levied on houses. Although the cost of project construction for developers increased with these taxes, no compensation against this tax was offered to builders against the production liability. Value Added Tax (VAT), Central Excise, Entry Tax, LBT, Octroi, Service Tax, etc. were some of the taxes that real estate developers had to pay before the GST entered into force. The expense paid by builders for these taxes was then passed to the buyer of the house.

In addition, as consumers had very little clarity about the different taxes and the prices applicable, developers were often able to manipulate statistics to hold the offer to their best advantage. For a consumer, it would’ve been an extreme challenge, to find out the VAT, Central Excise, Entry Tax, LBT, Octroi, and Service Tax rate applicable to real estate property development.

On July 1, 2017, the GST regime was introduced in India. I India’s biggest tax reform after Independence, the GST incorporated several indirect taxes in order to give the taxpayer a uniform system. The GST for real estate was initially kept higher, but the rate was decreased by the government in 2019. This was achieved in an attempt to make the property more affordable for the common man and to raise their ambitious ‘Housing for All’ aim by 2022.

GST rate on property

The government has reduced the GST rate on property transactions substantially with the goal of stimulating demand in the midst of a prolonged slowdown. This could theoretically decrease the pay-out of the buyers by 4 percent -6 percent on the overall purchase, experts say. While the new tax rate without an input tax credit ( ITC) would apply to all new projects, builders have been granted a one-time option for their existing projects to choose between the old and new rates by May 20, 2019. This bid was only valid for projects that were unfinished as of 31 March 2019. The government’s decision came when, in the absence of ITC, the developer group expressed doubts about tax liability.

Property type               GST rate till March 2019      GST rate from April 2019

Affordable housing              8% with ITC                           1% without ITC

Non-affordable housing      12% with ITC                           5% without ITC

Under GST, what is the input tax credit (ITC)?

The ITC system, which makes it distinct from the previous tax system in India, is a special feature of the GST rule. From the beginning of a residential property, until its completion, a real estate developer pays tax several times on the purchase of goods and services. The builder will earn an input tax credit under the GST regime when he pays his production tax.

As a tax on his final product, a developer has to pay Rs 30,000. As an input fee, the developer already has paid Rs 23,000, while buying materials such as steel, cement, paint, etc. In this case, after changing the input tax allowance, he will just have to pay just Rs 7,000 as an output tax.

As per GST, what is affordable housing?

Housing units worth up to Rs 45 lakhs identify as affordable housing under the government-determined description. The unit must, however, adhere to certain specifications as well. If it costs up to Rs 45 lakhs and measures up to 60 sq meters (carpet area), a housing unit in a metropolitan city qualifies to be an affordable home. As metropolitan cities, the Delhi-National Capital Region, Bengaluru, Chennai, Hyderabad, the Mumbai-Mumbai Metropolitan Region, and Kolkata are classified. A housing unit in any other city, excluding those mentioned above in India, qualifies as an affordable home if it costs up to Rs 45 lakhs and has a carpet area of up to 90 sq meters.

GST on home loan activities

As far as the borrower is concerned, although the GST is not applicable to home loan repayment, financial institutions provide many ‘services’ as part of home loans. The applicability of GST falls into the picture on the basis that these are facilities. Consequently, the bank will charge GST for the transaction fee, technical valuation fee, and legal fee if you are taking a home loan.

The impact of GST on affordable real estate

The presence of different taxes prior to the GST could not have overly affected property prices. Nevertheless, the tax calculation for the home buyer was a tedious operation. As a result, not many buyers will venture to find out the different taxes that added up to the property’s final price. While there are still many teething problems, the effect of GST on the property is that it provides homebuyers with more clarification about their tax obligation than the previous scheme. With the GST effect on the real estate sector leading to greater accountability, investors will have more confidence in India’s property transaction taxation. In addition, even if the prices are lowered slightly, properties will become more affordable. Here’s a look at how to measure GST on flats’ acquisition in the affordable housing segment:

Affordable housing         GST before April 1, 2019    GST after April 1, 2019

Property cost per sq ft                       Rs 3,500                         Rs 3,500

GST rate on a flat purchase                   8%                                     1%

GST                                                    Rs 280                               Rs 35

ITC benefit for the material

cost of Rs 1,500 at 18%                     Rs 270                           Not applicable

Total                                                   Rs 3,510                             Rs 3,553

Combined with these cost advantages, the GST effect on the real estate sector is expected to steadily increase buyer feelings.

Remember here that taxes like excise duty, value-added tax, customs duty, inputs and service tax depend on approval charges and architectural professional fees, labor charges, legal fees, and entry taxes depend on raw materials. These were among the costs that builders in India had to bear on housing project growth.

Although the government has already cut GST rates for real estate and there may be no room for further lowering of rates for the sector, industry experts believe that lowering rates for other goods and services may cause real estate investments at a time when home sales have dropped due to the post-Coronavirus pandemic economic crisis.

Industry bodies, such as ASSOCHAM and NAREDCO, have already proposed that for a fixed tenure, the government should reduce the GST for different goods and services by up to 50%.

For any more information related to real estate, you can read other articles of SBP Group.

[primaterra4-blog]

How the aftermath of Covid-19 spurs advantages of owning a home

Covid-19 has and is creating a wave of destruction throughout the world. The pandemic has resulted in terrible effects on various industries including, livestock, stock market, textile, and the real estate community. This blog gives a brief on the aftermath of Covid-19 on the real estate sector and how a homeowner can benefit amidst this crisis. The key elements highlighted in the blog are:

Impact of Covid-19 on Indian real estate sector

Advantages to homeowners

With constructions at a halt and the public shying away from buying in-development houses, the real estate industry in Mumbai will take a considerable time to redeem its pre-covid-19 stance in the market. The property market reacts differently to a crisis as compared to the stock market. 

Covid-19 impact on Indian real estate sector

The interdependence of supply chains, migration of laborers, cost overruns, and liquidity constraints are some of the looming challenges.

Imports from China

India imports distinct construction materials from China like iron and steel products, technical construction equipment, electronic equipment, plastic and fiber elements, and solar panels. Though India is the second-largest producer of steel, it lags in the production capacity. This immense reliance on China is one of the major concerns for the Indian real estate industry. 

Impact on commercial real estate

 According to a recent report by Cushman and Wakefield, the Indian commercial real estate segment is relatively stable and not as volatile as the stock market. However, with the global supply chain getting affected by the pandemic, the feeder impact will be seen in commercial markets as well. If the immediate-to-short term effect is considered, commercial leasing and co-working activity will be hit tremendously. However, in the longer term, the commercial real estate segment will be the quickest to bounce back.

Impact on business expansions

In a survey jointly conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Dhruva Advisors, 72 percent of the total survey respondents said that they are experiencing high-to-very high levels of negative impact on their businesses. As per a separate question in the survey, around sixty percent of the respondents have deferred business expansion plans for 6-12 months. With domestic and international flights being mostly non-operational owing to the extended lockdown, a substantial number of respondents have predicted a slowdown in the value of exports.

Benefits of an owning a home amid the COVID-19 crisis

Attractive home loans

The slash of repo rate by the Reserve Bank of India by 0.75 basis point in March 2020 has made home loans feasible for the proposed property buyer in Mumbai. The decline in the basis point has also drastically declined the interest rates on home loans offered by distinct public and private sector banks. The rates are from 7.20% and 8.05%, the lowest in over a decade. This is a lucrative time to invest in a home if that has been your prominent goal in 2020. The March 2020 residential property sales in China stands at almost 95% in comparison to the December 2019 levels. If this bounce back after the lockdown that ended last month in China is an indication of a trend, the Indian real estate market is also likely to witness a similar scenario after attaining normalcy. 

Dropped prices

The pandemic has compelled a drop in the price of real estate property. Experts believe this drop in the value will only be short-lived and the markets will bounce back once the lifestyle is brought back to normalcy. Buyers can take advantage of this drop and make use of the opportunity to invest in apartments higher than their previous budget also. This period, therefore, is a perfect time to invest in apartments in Mumbai. As per a survey report by 99acres to gauge buyers' sentiments in the times of the COVID-19 pandemic, 60 percent of the Indian home buyers who were in the market looking to buy a house before the pandemic are still planning to buy their homes within a year. The survey was conducted across major cities namely Delhi (NCR), Mumbai region, Kolkata, Hyderabad, Bengaluru, Pune, Chennai, Chandigarh, Ahmedabad, and Lucknow. The survey found that the home buyers showed a strong affinity towards ready to move in properties with 85 percent of buyers believing that ready to move in homes were safer than an under-construction property.

Virtual site visit

The seamless digital access and property listings online make it easy to discover a property of choice in these times of social distancing. Real estate investment does not seem impossible in these times of crisis. There has been a surge in online property purchase post-COVID-19, and the digital medium stands a good chance for new homeowners to register their investments. “Of the total unsold ready stock, the Mumbai and Pune regions together have approximately 35,200 units, which are collectively worth Rs 37,550 crore. This accounts for 57 percent of the total value of ready to move unsold homes across all top seven cities. NCR is next with 15,600 unsold ready units, followed by Bengaluru with nearly 10,100 apartments. Hyderabad has the least unsold ready stock of 2,400 homes worth Rs 1,870 crore,” remarked Anuj Puri, chairman, ANAROCK Property Consultants.

Government contribution to aid relief to the real estate sector

To support the real estate sector amidst this chaos of a pandemic, the Central Government has laid various relief measures. Some of the key measures are as follows:

Putting forth the relief measures for dejected real estate developers, the Central Government has increased the threshold for initiating default proceedings under the Insolvency and Bankruptcy Code (IBC) 2016, from Rs 1 lakh to Rs 1 crore. This will help keep a check on unscrupulous and frequent insolvency proceedings against developers, especially during tough economic times. 

The Central Government has also assured that if the present strained economic scenario continues beyond six months, it will actively consider suspending Sections 7, 9, and 10 of the IBC (all related to starting Corporate Insolvency proceedings). 

The Government has urged the State governments to utilize the Rs 31,000 crore fund for the welfare of construction workers, so as to minimize the adverse impact of the nation-wide lockdown on the same. 

The release of a relief package to the tune of Rs 1.71 lakh crore will benefit migrant construction laborers. 

The deferment of dates for key filings such as ITR, composition scheme, and Aadhar-Pan linkage will ease the compliance burden.

In the second round of relief measures, the Central Government intends to roll out a package of Rs 20 lakh crore, including the revival measures taken by RBI.

The construction contractors engaged with government infrastructure companies have been given an extension of up to six months to complete ongoing projects.

The future of real estate post-COVID-19 is unpredictable. However, now is the time of real estate investment, and one should take advantage of this opportunity if they can.  If you are looking for a safe and secure investment in property, Prima Terra, is the best option to consider. 

[himanshikohli00]

For any Indian buying, a house is perhaps one of the biggest and most common dreams. Though home-owning in any society has the highest emotional quotient level, you need to make a prudent decision. Also, financial viability has to back this prudent decision. Incorrect assessments lead to all kinds of financial difficulties in the form of overloaded debt. I have been to many cities in India and the list is a long one; Bangalore, Delhi, and Mumbai but Kolkata have always had my heart. So, I began my hunt for the house that I would settle for life. Top-of-the-order mission from the Union government to implement affordable housing schemes for everyone by 2022 has eased the interests of home loans since this year’s beginning. Hence, I could not have asked for a better time. I did not want to go for rented accommodation but for the residence of my own. Here is how housing.com helped me with the entire process.

Simplified search

When the situation arises to buy apartments in Kolkata, there are a few considerations that may confuse anyone. Today, the developers are offering apartments increasingly with world-class features inclusive of skywalks, landscaped terrace, multi-gym and swimming pools to lure any home buyer like me. If we do not assess our needs carefully then we can spend a fortune on those features that we may not even end up using. I am glad that I stumbled upon housing.com to look options for flats in Kolkata.  They were the fastest-growing enterprise in the space of real estate online have simplified home search for buyers like me.

Sort your choice as per relevance

I was looking for 2 bhk flats in Kolkata and I found some nearby Bhatpara, Shyamnagar, Gurdah, and Kawgachi in Shyamnagar. All I had to do was choose the options of BHK, price range, type of property, status of property and housing.com came up with the most relevant search. I could see the average rate per square feet, and the Final price range excluding maintenance. On the website, against each property, there is enough information about the real estate developer for the project, configs, amenities, and a general overview.

No fake listings

In the past I have been befooled by many online websites that dealt in the spaces of retail estates. In fact, to date, my friends share their horror stories about how they were led on to believe listings posted on a site and eventually all of them turned out to be non-genuine. I am so glad I partnered with housing.com for purchase of flats in Kolkata. They helped me with endless visits to multiple sites that appealed to me during the house-hunting process. It is glad to find a unique platform of property search that is filling breaches left by other organizations in the housing market.

Top investors backing the scheme

In the Shyamnagar area, a property of apartments really appealed to me and fulfilled my criteria of 1 bhk flats in Kolkata. I am so glad that the team at housing.com comprises of passionate solvers of problems and leading investors from across the world back it. For 771 square feet of flat, I could go through the per square feet rate that is 2.5 thousand. I am delighted to see that apartments in the square feet range of 771 to 810 have amenities like areas for car park, security round the clock, presence of educational institutes, schools, malls, and other convenience options. Housing.com lists all possible details like the status of the project and contact details of the agent.

No compromise on quality

The business team at housing.com brings money home in return for empowering the individuals and enterprises within an ecosystem. To be honest, finding them was never a challenging task. I absolutely love the way they gather enough intel on flats in Kolkata and work their magic over it. It was pleasantly surprising for me to get in touch with a team that talks the talk, suits up, is pumped up and is extremely aggressive when it comes to meeting the demands of buyers like me. At no given time during the house-hunting process did the team ever compromise on the quality factor.

Listing of properties with a convenient location

Every metropolis is in an expanding phase with the increasing population, alongside the corresponding social as well as civic infrastructure. Nevertheless, a vast section of people like me prefers staying in the city’s heart for myriad reasons. Like for me, I will never compromise on reasons like connectivity, proximity to my workplace, access to cultural and social amenities. Since the cost was the major deterrent for me while I did not want to let go off my options, housing.com came up with the listing of micro-homes in fitting locations. They presented to be a wide array of 2 bhk flats in Kolkata. My family is a contemporary one loved how their listed properties with smaller sizes of unit called for efficient management of space.

Resale properties

While I was searching for the ideal house for myself and my family, I had the provision of finding flats in Kolkata that were actually independent houses. All I did was select the option of resale properties instead of new projects and housing.com presented me with options galore. For twenty-five lakhs I could zero in upon an independent house in Kolkata’s Shyamnagar that has 820 square feet of built-up area with three-point five thousand of average price for the built-up area.

Adding nearby localities aided the process of search

While kept on looking for 2 bhk flats in Kolkata in the Shyamangar area, housing.com provides its visitors to add nearby localities to the search. So, besides homes in Shyamnagar I could look for houses in Palta, Ichapur, Barrackpore, Patulia, and Titagarh.

Explore a new world of home buying

For any buyer like me, who has to singlehandedly arrange for everything, hosuing.com is a boon in disguise. Open your user account on the website or download the app and look for the best projects, top developers, buying guide and a fair share of information on home loans.

[property360india]

Major Investment Risks & Covid-19 Impact On Property Deals

Everything new has its own charm and appeal. When you buy a property in a new place, it is always dreamy to start the new journey afresh. However, the initial decision to make a huge investment can be a difficult one. If you ask any real estate agent in Newtown, whether it is risky to venture into the realty business, you will get varying responses. Some old players in the market feel financial investments in the property market are worth the risk provided there is adequate knowledge. But being a novice can have its own share of difficulties. 

Some Common Risk An Investor Can Experience: 

Interest Rate Increase: When investing in a property, you analyze the best interest rates that your property dealer in New Town gets you. But it is common knowledge that the interest rate can double in a few years. So, do you still expect to receive the same cash flow?  This means that increased interest rates will negatively impact your cash flow. 

Property Valuation Risk: It is needless to say that property valuation is a tricky one. It actually depends on the three important factors which include: the time you are investing in, the time you are selling it off, and refinancing the property. 

Market Condition During Covid-19:

If you hear from industry experts, you will realize that the current stock market is very volatile, and along with it, mutual funds are also underperforming. So, the need for a  stable asset class is increasing rapidly. In this situation, what can be a better option than buying or investing in a property?

There is much evidence that shows buyers and sellers are returning to the market to start investing again. Currently, residential real estate is at its peak now with lower interest rates. House inquiries are rising rapidly every day. In fact, there has been an increase in the number of inquiries by 50%. 

For NRIs, this is the most feasible time to invest in Indian real estate. Why? Definitely due to the rupee depreciation against US dollars as currently investing in realty here is a sensible option. With other financial ventures proving to be a risk,  real estate consultants in Newtown, Kolkata are in a mood for better negotiations. 

With the declining repo rates, resulting home loan rates are at a low as well. So buyers can consider a property provided they have done their calculations correctly and have a fair knowledge about the EMIs, down payments, and operational costs that they will have to shell.

Buying a house needs a lot of considerations ranging from budget, capital returns, location, facilities, and quality of construction. Contact Property360, the best real estate consultant in Newtown for in-depth guidance on making major decisions related to real estate buying and selling. 

[mymoneymantra]

Benefits of Buying a Home in the Woman’s Name

Women in India have bolstered the courage to step out from the zone of patriarchy and actively follow their dreams of becoming financially independent and stable. Since the earlier decades, women have been the decision makers when it is related to managing the house and money. But now they are also actively participating in buying a property which was primarily done by the male members of the family. The housing segment is observing the growth as far as women buyers are concerned in India. As per the study conducted by the Economic Times which highlighted approximately 42% of women choose property as an investment asset class as compared to 30% select fixed deposits and only 17% were keen to invest in gold.

Due to education and career front, women have stepped out from their hometown; real estate investment becomes a pathway of building long term stability for themselves. This trend is clearly to be seen in metropolitan cities of Delhi, Bangalore, Mumbai, Kolkata and Chennai, and other Tier-II cities. As per the report of Track2Realty, 32% of buyers across India are single women who are capable of decision making by herself in all about 74% of the property purchases. Single women property buyers consider cities like Mumbai, Bengaluru and Hyderabad due to education, safety and job avenues. Property developers and home loan lenders have come up with attractive offers and incentives to encourage the women home buyers to benefit from the scheme that would finally give a boost to the property industry.

Taking a home loan or buying a home in the name of a woman family member like wife, mother or sister offers various potential benefits. Take a look at the benefits offered on the Best Home Loan in India:

Increased Home Loan eligibility

Most of the Indian homes are funded through home loans because they are an effective way of buying one’s dream house. But before property financing, banks and NBFCs examine the home loan applicant’s eligibility which basically depends on the salary. As a woman, you can become a co-owner with your husband that will help you obtain the higher loan amount where both the incomes are taken into consideration.

Lower home loan interest rates

Several accomplished banks and NBFCs in India extend home loans at lower interest rates to women besides offering several attractive offers, schemes, and initiatives. This promotes women executives, entrepreneurs and even housewives for taking a home buying decision. As women are viewed as more sincere and disciplined in loan repayments and default less on making payments, thus banks also consider extending loans to women. SBI offers ‘Her Ghar’ scheme that waives off the processing fee for women home loan applicants. HDFC offers ‘Women Power’ and ‘Mahila Awas’ loan for women applicants to obtain home loans. One significant point to remember is that banks or housing finance companies extend interest rates at concessional rates to the solo or the first co-applicant woman.

Partial Exemption on Stamp Duty

In most of the states in India, stamp duty for women homebuyers is relatively lesser as compared to those for men.  Delhi and Haryana offer a 2% reduction in stamp duty and 1% reduction in Rajasthan.

This is regardless of the fact whether the woman is a sole or joint property owner. There is a lower stamp duty charge levied if the property is given as a gift to a woman family member.

For example : in Delhi, the government levies a stamp duty of 4% to women as compared to 5% for a woman as a joint owner with his spouse. If the spouse buys a property in Delhi, the stamp duty would cost them Rs. 5 lakhs but only for a woman, it would cost Rs. 4 lakhs.

Tax Benefits on Home Loan

Women are eligible for the tax deduction on interest payments up to Rs. 2 lakhs  for home construction and its purchase. If the married couple jointly owns the property and the wife is an earning member then both of them can be eligible for tax deductions individually. Under the new legislation of Section-80EEA act, if a home is purchased under Rs. 45 lakhs  in the financial year of April 2019-March 2020, additional exemption of Rs. 1.5 lakhs can be obtained.

Benefits under PMAY

Under the Pradhan Mantri Awas Yojana (PMAY), women have been categorised under the specified class of homebuyers. No matter if you are an unmarried woman, you can still apply for a PMAY subsidy or a Home Loan as the program does not differentiate subject to the marital status or gender. PMAY guidelines make it compulsory to have at least one woman in the family to be registered as the house owner. In the case where the house ownership lies in the hands of a woman, the Government offers a subsidy up to a maximum of Rs. 2.67 lakhs.

A woman co-applicant is not compulsory while applying for a home loan under PMAY in the MIG 1 or MIG 2 category. The same goes with the home loans under PMAY obtained by applicants from the LIG and EWS category. This rule is pertinent only for newly bought houses under the scheme and not for houses constructed on existing land or for renovation and repairs work done of an existing house.

Rent on Property

Women are permitted to avail the deduction on the interest paid on home loan against the net rental value that is over and above the 30% standard deduction readily accessible on rental income.

Secured financial cover

Financial assets get a shield of protection when a house is bought in a women’s name. In case if a person incurs debt or loss in business, the government officials or creditors cannot claim for the house registered in the name of the wife provided that the wife is not a guarantor or a co-owner of any loan obtained by her spouse.

Simplified succession issues

If a woman is a co-owner of the house or property, she has equal succession rights. So, in case of the death of a spouse, she can claim her rights on the property. There are no law disputes with other family members and money gets saved on mutation charges.

[ennisgoldberg5-blog]

Prime three Causes For Fail Background Verify

Top 3 Reasons For Fail Background Verify

I identified in a column in mid-October that the broad bank sector sell-off on foreclosure worries might have been an overreaction. A credit union or smaller, more small-enterprise-frienly bank is wanting good to me. Small cities and towns are taking a look at new banks being inaugurated every different day. Our Small Enterprise Loan may be perfect to money your longer term jobs. An internet business mortgage can help a borrower in expanding his present business operations. Listed below are the varied trails that can lead the IRS to your bank account. SFGI Direct is a web-based division of Summit Group Bank, a group bank located in Moorefield, West Virginia with additional offices in Charleston, Rainelle, Rupert, Petersburg, Franklin, Mathias, and Martinsburg (West Virginia) and Winchester, Harrisonburg, Warrenton, and Leesburg (Virginia). And the reply to why it's best to do community service? In asking bank interview questions about your consideration to element and accuracy the interviewer desires to know if you are able to accurately perform your tasks with close consideration to all aspects of your work.

Using demand & supply curves to explore why governments fail to pursue policies backed by sound technical evidence. http://bit.ly/2gzCk4C pic.twitter.com/ly5sGtgIZh

— World Bank Data (@worldbankdata) October 26, 2017

Regardless of the case, the bank will wish to know, for the next causes. If you are raising a powerful … What business bank account should I use for my begin up? Since banks are usually not concerned about carrying REO stock, they try and sell off these homes to potential patrons. Adhering to acquainted products and model names is unquestionably really helpful as they are simpler see on wikipedia to promote. The women in Shanghai like to verify with each other, the one which might be within the identical workplace pays particular consideration to who put on new clothes and the brand of the clothes. There are numerous suburbs too inside Kolkata the longer term area in stable property market few locations are usually Rajarhat which is situated round Netaji Subhash Chandra Bose air port could be a speedily rising satellite tv for pc television capital of scotland- Kolkata. Another form of business property which has gained significance over the last few years is the studio apartments in Noida and Delhi area. However, you will need to meet a few other necessities in order to safe one of these loans.

Housing agents typically work with just one or two banks. Right now, one of many UK’s biggest companies, the Royal Mail, is being destroyed just because nobody ? Coinstar near It may doable even counteract against their need for a fast money advance and keep them from taking out so many throughout the 12 months. But even if you're just money away for the longer term there'll always be times this financial security web will are available handy. A few of these firms could even share/promote your personal and financial data to different corporations. When you find yourself also needing discovering methods to barter credit-based card debts, you might find this information extremely informative and utilized by you. Free checking accounts are nonetheless round, however they are powerful to seek out at the bigger banks. Make that telephone name and inform them precisely what nations are on the itinerary.

But then after profitable, and kind of enjoyable, we discovered that effectively, Okay, for all the good--and I will make some extent. In this case, the pupil is assured some sort of half-time job on campus, in order that he can earn some cash to help with expenses. It will assist cut back vitality costs and pollution, and you’ll be in your method to becoming energy-unbiased. This may be a fantastic way to get your credit balances below control which has a monthly repayment that matches your allowance higher. I do know too many people who journey overseas and pay ATM fees and get hit with bank card transaction fees. That's a strict "No-means-no" reply from most traditional lenders when they could not afford to take danger of accepting borrowers with extremely low credit rating. How Lengthy Will It Take Me to Receive My Chase Private Scholar Loan Verify? It doesn’t obligate you or the lender to really enter into a mortgage settlement.

[saheniindexia]

Best Loan Against Property in Kolkata

Introduction to Loan Against Property

Loan against property, commonly known as LAP, is a secured loan where borrowers pledge their property, whether residential or commercial, as collateral to avail funds from financial institutions. The borrowed amount is determined based on the market value of the property and the borrower's repayment capacity. Best Loan against property in Kolkata offers lower interest rates compared to unsecured loans, making it an attractive financing option for individuals with valuable property assets.

Understanding Loan Against Property in Kolkata

Kolkata, the cultural capital of India, boasts a vibrant real estate landscape, encompassing residential, commercial, and industrial properties. The city's dynamic economic growth and increasing property values have fueled the demand for LAP among residents and businesses alike. Whether it's funding business expansions, meeting personal financial goals, or addressing unforeseen expenses, LAP provides borrowers with access to substantial funds while retaining ownership of their properties.

Key Considerations When Choosing a LAP in Kolkata

Interest Rates

Interest rates play a crucial role in determining the affordability of LAP. Borrowers should compare interest rates offered by different lenders in Kolkata and opt for the most competitive option to minimize borrowing costs.

Loan-to-Value Ratio

The loan-to-value (LTV) ratio determines the maximum loan amount that can be availed relative to the property's market value. Borrowers should assess the LTV ratio offered by lenders and choose one that provides adequate funding while ensuring prudent risk management.

Processing Fees and Other Charges

Apart from interest rates, borrowers should consider the processing fees, prepayment charges, and other associated costs levied by lenders. Opting for lenders with transparent fee structures and minimal charges can help borrowers save on overall borrowing expenses.

Top Providers of Loan Against Property in Kolkata

Several financial institutions and non-banking financial companies (NBFCs) offer LAP services in Kolkata, each with its unique features and benefits. Some of the top providers include:

State Bank of India (SBI)

HDFC Ltd.

ICICI Bank

Axis Bank

Punjab National Bank (PNB)

Features and Benefits of LAP in Kolkata

Flexibility in End-Use

One of the key advantages of LAP is its versatility in end-use. Borrowers can utilize the funds obtained through LAP for various purposes, including business expansion, debt consolidation, education expenses, medical emergencies, and home renovations, among others.

Longer Repayment Tenure

LAP offers longer repayment tenures compared to other forms of financing, providing borrowers with ample time to repay the loan comfortably. Extended repayment periods help mitigate the financial burden on borrowers and ensure manageable monthly installments.

Competitive Interest Rates

Many lenders in Kolkata offer LAP at competitive interest rates, making it an affordable financing option for borrowers. By securing LAP at favorable interest rates, borrowers can minimize the cost of borrowing and save significantly on interest expenses over the loan tenure.

Application Process for LAP in Kolkata

The application process for LAP in Kolkata typically involves the following steps:

Documentation Required: 

Borrowers need to submit essential documents, including property papers, identity proof, address proof, income documents, and bank statements, to initiate the loan application process.

Eligibility Criteria: 

Lenders in Kolkata impose specific eligibility criteria related to the borrower's age, income, employment status, and property ownership. Meeting these criteria is essential to qualify for LAP.

Approval Timeline: 

Upon submission of the required documents, lenders assess the borrower's eligibility and property valuation to determine the loan amount. The approval process may take anywhere from a few days to a couple of weeks, depending on the lender's internal processes and workload.

Conclusion

Choosing the best loan against property in Kolkata requires thorough research, considering factors such as interest rates, loan terms, customer service, and lender reputation. By exploring offerings from top LAP providers like SBI, HDFC Ltd., ICICI Bank, Axis Bank, and PNB, borrowers can make informed decisions tailored to their financial needs and preferences. With LAP, borrowers in Kolkata can unlock the potential of their property assets and address diverse financial requirements with ease.

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Importance of Banking Leads

Lead generation is the best method of marketing to increase sales at lower cost. We provide Fresh & Exclusive Leads For Banking & Finance Sector. We use Search Engine Marketing, Digital Marketing, Affiliate Marketing & Social Media Campaigns to generate very genuine Inbound Leads at affordable cost. Our Leads are real time leads and 100% exclusive as these leads are never shared with other Clients. We generate following types of fresh leads in the form of Web Application Form and transferred to you on Real Time Basis at your Email ID. These Leads are 100% authentic Leads and Conversion Ratio is very high because Loan Application Forms are filled by Loan Seekers who are spending time on Internet to Apply For Loan/Credit Cards. Leads Types ** Personal Loan Leads ** Home Loan Leads ** Loan Against Property Leads ** Car Loan Leads ** Business Loan Leads ** Education Loan Leads ** Credit Card Leads ** Project Loan Leads ** Cash Credit / Over Draft Leads ** Balance Transfer & Top Up Loan ** Target City Options ** Delhi ** Noida ** Gurgaon ** Ghaziabad ** Faridabad ** Mumbai ** Pune ** Ahmedabad ** Hyderabad ** Kolkata ** Bengaluru ** Chennai ** Jaipur http://www.leadsglobal.in/

[dealsofloans-blog]

Loan Against Property Eligibility

How to calculate my eligibility against my valuable property?

Loan Against Property Eligibility is one of the most valuable things in India for everyone. No one wants to sale out his valuable property, because it is directly connected with feelings. Everyone wants security in his life so no one in India wants to sale out. Best way is taking loan by putting his property as mortgage in any banks or NBFCs.

Generally the property loan eligibility is calculated on the basis of market value of offered property. Income and financial valuation is done by credit officers of the finance institution. Banks & other NBFCs have various programs from which they calculate customers requirements. It is evaluated on case to case basis. There are two different types of property demarcation parameters in all states. Like in Maharashtra, particularly in Pune, Mumbai there are three types of properties are availed. NA order, Gunthewari property and Grampanchayat property. So eligibility of loan against property depends completely on property type also. Lenders are providing the amount as per the subjectivity of property type like residential & commercial establishments of the collateral property. Government banks, PSU banks, Private sector banks & other NBFCs are doing good funding in this segment.

Have a clear description of eligibility criteria adopted by most of all.

Here Loan against Property is avail on below given type of properties and funding that you can avail is listed below.

Secured Residential property :-

Clear Title Self Occupied – up to 70%

Residential but Vacant – 50%

Tenant/Rented – 60%Secured Commercial approved property:-

Clear Title Self Occupied mercial property – 55%

Commercial but Vacant  – 40%

Tenant/ Rented – 50%

Percentage of valuation can be increased or decreased as per comfort on the case by credit offer or as per deviation metrics.

Income Salaried customers :-

{(Net Income – Obligation) * 65%} / EMI per LacIncome Self-Employed customers:-

{(Net Income – Obligation) * 70%} / EMI per Lac

Banks design more other program for Mortgage Loan, as per the market requirement.

Currently overall average ticket size in this segments is 2 lac to 10 crore in all urban cities like Pune, Mumbai, Delhi, Bangalore, Delhi NCR, Indore, Hyderabad, Kolkata, Ahmadabad,

[srahejarealty-blog]

TAX SAVING TIPS THAT WILL MAXIMIZE YOUR REAL ESTATE INVESTMENT RETURNS

When you are investing in real estate, you should know what you are gaining from your investment.

Buying a new home is an exciting affair and ensuring that you get the best returns on your real estate investments sweetens the deal further. With the financial year end just around the corner, here are a few tips to help you maximize your tax benefits on your real estate investments.

What are the areas you can claim tax benefits by investing in a real estate property?

Below are the 4 areas where you can claim tax benefits:

1. You can claim tax exemption under Section 80C on principal repayment up to a maximum limit of Rs.150,000 per annum.

2. You can claim tax exemption under Section 24 on interest payment up to a maximum limit of Rs.200,000 per annum.

3. Section 24 is claimed on an accrual basis while Section 80C benefit can only be claimed on an actual payment basis.

4. If you are going for a home under Rs.50 lakh value in this year, you can get an additional exemption of Rs.50,000 u/s 80EE for interest paid, provided you are a first time home buyer.

Let us start with an illustration to guide you through the process of claiming benefits.

Suppose you recently purchased a 2 BHK property worth Rs 55 lakh in Kolkata which had been financed by one of the prominent banks to the extent of 85 percent of the value of the property. You aware that buying a house on loan is a tax efficient proposition but you are not aware of the nuances of how best you can leverage your home loan for tax benefits. You will read through the relevant sections pertaining to Section 80C and Section 24, but but you still wont be clear how it will work out in totality for him you. You, therefore will now approach to a tax advisor who will educate you more about how you can use your property for tax benefits.

Did You Know there is more than earning benefit on principal repayment under Section 80C.

Monthly EMI of Rs. 42000 is entailed, when you took a home loan to finance your apartment. Now in each month this EMI of Rs. 42,000 gets split into 2 components

The Interest Component

The Principal Component

Initially the interest component is higher while in the later years of the loan, the principal component is higher. In the first year, the interest component will work out to approx. Rs. 30,000 per month while the principal component will work out to Rs. 12,000 per month, as per the bank loan statement. That works out to a total principal repayment of Rs.1,44,000 per year which can be claimed as a deduction under Section 80C.

Additionally, the registration charges and stamp duty paid for the property are also eligible for deduction under Section 80C. Now to claim full deduction of registration and stamp duty subject to a maximum limit of Section 80C limit, you should time your purchase in the Jan-Mar quarter. Then you can claim the full principal from next year. In fact, if you are planning to invest in PPF, you can postpone that by 2-3 years since Section 80C will be fully covered by the principal component of home loan itself. There is one more thing to remember here. The treatment of principal on home loan remains the same irrespective of whether the property is self-occupied or rented out. There is one important point to remember here. If the property is sold before a period of five years then the Section 80C benefits claimed over the last five years will be treated as taxable income in the hands of the assesse in the year in which the property is sold.

Do you know how to treat interest on home loans, if it is a self occupied property ?

Every capital gain can show one property as self-occupied for tax purposes. You can show income on house property as zero and show the entire interest up to Rs. 200,000 per annum as a loss and adjust that against your taxable income, when filing your IT returns. Here you will pay Rs. 360,000 as interest component on your home loan and against that you can get Rs.200,000 as exemption under Section 24 of the Income Tax Act. Considering that you are in the peak tax bracket, your rebate is over 30% on the interest paid. An interesting point to remember here is that the rebate under Section 24 is available on an accrual basis and not on an actual payment basis.

And what if it is a let out property ?

You will need to treat your home loans slightly different here as it is a let out property. In this case, you do not have any limit for exemption under Section 24 and the limit of Rs. 200,000 will not hold any longer. Of course, you will have to show the higher of the fair rental value or the actual rent received as income on the house property. But there is no limit on the amount of interest on loan that you can claim as an exemption. In the above example, the entire interest component of Rs. 360,000 can be claimed as deduction in the case of let out property. In fact, the idea here is that if you are planning to let out your property then you can opt for a shorter tenure loan of 10 years instead of 20 or 25 years so that you can get higher exemption as anyways there are no limits on exemption on interest paid on home loan.

Now coming to buying a property on a single versus joint names.

You can either go for a home loan in your name or in the join names of yourself and your spouse. You can apply for loan in joint name which will entitle you for a higher loan amount, if your spouse is an earning member then. Additionally, this limit of Rs.200,000 can be claimed individually by you and your spouse when you file your tax returns making it doubly tax efficient.

Miscellaneous facts about investing in Real Estate/Home Loan…

There are some additional points to remember. You are eligible for an additional deduction of Rs. 50,000 under Section 80EE subject to the loan being sanctioned during the financial year 2016-17, if you are a first time home buyer, then. While there is no income eligibility for Section 80EE, it is subject to the maximum cost of the house being Rs.50 lakh and the maximum loan being Rs.35 lakh. Additionally, Section 24 benefit is available only if the construction of the house is completed within five years of the end of the FY in which the loan was availed. Pre-construction interest is available separately as a deduction in equated installments over a period of five years.

[saheniindexia]

Best Loan Against Property Provider Company in Kolkata

Introduction

Loan against property (LAP) is a viable financial solution for individuals in need of substantial funds while leveraging their property as collateral. In Kolkata, several financial institutions and companies offer LAP services, each with its unique features and benefits. This article aims to explore the best loan against property provider company in Kolkata, shedding light on their offerings, customer satisfaction, and other essential factors to help borrowers make informed decisions.

Top Loan Against Property Providers in Kolkata

1. State Bank of India (SBI)

SBI is a renowned name in the banking sector, offering a wide range of financial products, including LAP. With competitive interest rates and flexible repayment options, SBI stands out as a preferred choice for borrowers in Kolkata.

2. HDFC Ltd.

HDFC Ltd. is a leading housing finance company known for its transparent loan policies and efficient customer service. Borrowers can benefit from HDFC's extensive network and quick loan approval process.

3. ICICI Bank

ICICI Bank provides LAP with attractive interest rates and tailored loan solutions to meet diverse customer needs. With a user-friendly online application process, ICICI Bank ensures convenience for borrowers in Kolkata.

4. Axis Bank

Axis Bank offers LAP with competitive interest rates and transparent terms. Borrowers can expect quick loan disbursal and personalized assistance throughout the application process.

5. Punjab National Bank (PNB)

PNB is another reputable bank offering LAP services in Kolkata. With minimal documentation requirements and affordable interest rates, PNB caters to the financial needs of a wide range of borrowers.

Factors to Consider When Choosing a LAP Provider

Interest Rates

Comparing interest rates among different LAP providers is crucial to ensure borrowers secure the most cost-effective financing option.

Loan Terms and Conditions

Understanding the terms and conditions of LAP, including repayment tenure, prepayment charges, and foreclosure options, is essential for borrowers to make informed decisions.

Customer Service

Efficient customer service plays a vital role in the overall borrowing experience. Borrowers should assess the responsiveness and supportiveness of LAP providers in addressing queries and concerns.

Reputation and Reliability

Opting for LAP providers with a strong reputation and reliability ensures transparency, trust, and confidence throughout the borrowing process.

Conclusion

Choosing the best loan against property provider company in Kolkata requires careful consideration of various factors, including interest rates, loan terms, customer service, and reputation. By evaluating these aspects and comparing offerings from top LAP providers like SBI, HDFC Ltd., ICICI Bank, Axis Bank, and PNB, borrowers can make well-informed decisions tailored to their financial needs and preferences.