Housing Finance In India

With the growth of real estate sector in India, housing finance companies and banks are cashing on this sector by offering home loans at cheap and attractive rates. Banks have many plans and offers that range right from buying a land to possessing a flat or a house. The policies of the government have made it easier for banks as well as consumers to seek and procure home loans.

There are different types of home loans:

• Home improvement loans
• Home extension loans
• Home equity loans
• Top up loans
• Home purchase loans
• Land purchase loans
• Commercial property loans

Private and public sector banks like ICICI Bank, HDFC Bank, Bank of India, Standard Chartered, IDBI Bank, State Bank of India, Union Bank of India and Citibank offer home loans as per the guidelines of the government.

If you are looking to buy a home then you can easily apply for home loans even before you find a suitable property. Your loan amount will depend on your eligibility that comprises of many factors like salary, fixed deposits etc. Indian government has made it easier for NRIs to procure home loans but an NRI can't avail tax benefits on home loans unless he/she files returns. However there is a tax exemption to a home loan customer under sections 88 and 24 of the income tax act.

For any queries on real estate or property market contact us:

© 2007 www.realtymantra.com