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Home Loan in Ahmedabad

Ahmedabad is a perfect city to get your dream house, and Tata Capital will ensure you fulfil your dream. Here is how:
 
  1. 1.Attractive Interest Rates

With Tata Capital, you can be sure of getting the lowest interest rates on home loans. So, you pay smaller monthly instalments and easily purchase a brand-new property.

 

  1. 2.Easy Eligibility Criteria

Tata Capital has very basic eligibility criteria, so your loan is approved quickly, and the amount is disbursed to your account instantly. Use Tata Capital’s Home Loan Eligibility Calculator to determine your eligibility.

 

  1. 3.Easy Repayment

Tata Capital offers flexible tenure of up to 30 years so that you can repay the loan at your convenience.

 

  1. 4.Wide Range of Properties

Ahmedabad has properties for everyone. You can get luxurious apartments and villas in high-end localities. If you want a more affordable independent house, you can get that too. And Tata Capital will help you finance your dream property.

 

  1. 5.Well Developed Infrastructure

Even the most affordable localities in Ahmedabad have a robust infrastructure. So, no matter the area, your house will be well-connected to other parts of the city with its road and transport networks. The abundance of amenities like schools, hospitals, malls, and hotels make Ahmedabad the best city to own a house.

Know more about our offering

Key Features

Loan Amount

₹2,00,000 - ₹5,00,00,000

Loan Tenure

Up to 30 years

Interest rate starting at

6.70%*

Home Loan in Ahmedabad Advantages

Rapid commercial and retail development

Satellite and Bodakdev are the expensive areas in Ahmedabad with well-developed physical and social infrastructure. The city packs impeccable infrastructure, and a high living standard as localities are dotted with several malls, restaurants, schools, hospitals, banks, and five-star hotels. These most-favoured locations are home to wide roads and abundant public transport.

When looking to settle in the perfect blend of comfort and luxury, choose a suitable housing loan in Ahmedabad and buy your desired property.

Wide range of property choices

 Ahmedabad offers an exciting slew of properties. Be it luxurious apartments or villas in Satellite, relatively more affordable properties of Prahlad Nagar, or well-developed independent houses of Bopal; the city has it all. You can also invest in the properties from the high-end localities of Bodakdev using a home loan in Ahmedabad.  

Rapid commercial and retail development

Satellite and Bodakdev are the expensive areas in Ahmedabad with well-developed physical and social infrastructure. The city packs impeccable infrastructure, and a high living standard as localities are dotted with several malls, restaurants, schools, hospitals, banks, and five-star hotels. These most-favoured locations are home to wide roads and abundant public transport.

When looking to settle in the perfect blend of comfort and luxury, choose a suitable housing loan in Ahmedabad and buy your desired property.

Wide range of property choices

 Ahmedabad offers an exciting slew of properties. Be it luxurious apartments or villas in Satellite, relatively more affordable properties of Prahlad Nagar, or well-developed independent houses of Bopal; the city has it all. You can also invest in the properties from the high-end localities of Bodakdev using a home loan in Ahmedabad.  

What are Interest Rates for Home Loan in Ahmedabad?

 As a commercial hub, Ahmedabad offers a range of perks for investing in its realty hotspots. It packs well-planned infrastructure, transit networks, civic amenities, residential localities, and a good standard of living at relatively lower costs. But that’s not it! Even getting a home loan in Ahmedabad is quick and hassle-free.

At the same time, the home loan interest rates in Ahmedabad are at a record low, which means lower interest payable and smaller EMIs for you. So, if you’ve selected the perfect property for your investment, now is the right time. At Tata Capital, you can qualify for the lowest home loan rates in Ahmedabad and buy your preferred property at the earliest.

With easy-to-fulfil eligibility conditions, minimal documentation requirements, nominal processing fee, and no hidden charges, Tata Capital assures you of a comfortable borrowing experience. When seeking a housing loan in Ahmedabad at competitive terms, turn to Tata Capital. Contact today.

What is the Eligibility Criteria for a Home Loan in Ahmedabad? 

To avail a Tata Capital Home Loan in Ahmedabad, you should meet some basic eligibility criteria such as:

  • Aged between 24 - 65
  • Salaried or self-employed
  • Salaried professionals need a minimum of two years of working experience and a monthly salary of at least Rs. 30,000
  • Self-employed individuals need a minimum of three years of working experience in the current field
  • A credit score of 750+

 

Use our Home Loan Eligibility Calculator to determine your eligibility.

What are the Documents Required for Getting a Home Loan in Ahmedabad?  

The following home loan documents are required for a loan:

  • For Age Proof, any of these documents - Passport, Driving License, PAN Card, Birth Certificate
  • For Address Proof, present one of these - Bank Statement/Voter ID
  • For Identification Proof, keep these ready - Aadhar Card/ PAN Card/ Voter ID/ Driving License/ Passport
  • For Income Proof, keep these ready - Bank account statement for the last six months for salaried professionals and self-employed individuals: last three years' Projection Statement / Six months statement from current account
  • Processing Fee Cheque
  • Property Documents

How to Calculate EMI for Home Loan Online  

 When you apply for a home loan in Ahmedabad, your home loan repayment costs depend on your interest rate, loan tenure, and the principal amount borrowed. You repay the cost via equated monthly instalments (EMIs).

Before applying for a housing loan in Ahmedabad, you must calculate your EMI using a home loan EMI calculator. That's because housing loans usually have longer terms ranging from 15 to 30 years. This way, the total interest amount becomes significant over the years.

To understand your repayment amount precisely, use a loan EMI calculator and get hold of your EMIs and loan interest. Input your principal amount, loan tenure, and rate of interest to get your home loan EMI in Ahmedabad. By doing so, you can figure out a monthly budget that allows you to set aside funds for other expenses along with paying your EMIs.

 

HOW TO APPLY FOR A HOME LOAN ONLINE IN AHMEDABAD

Offline Application Process

  • Customer care –18602676060
  • Email – contactus@tatacapital.com
  • Registered Branch – TCHFL, Shanti Arcade, 1-Chetan Society, Near Sardar Patel Colony, Cross road, Naranpura, Ahmedabad – 380014

FAQ

Maximum of 30 years is provided to repay a loan. This is subject to retirement age of the borrower or 65 years in the case of self-employed applicant. 

Our interest rates begin from 7.75%* and are highly competitive. We offer concessional interest rates to women beneficiaries. Additionally, we provide subsidized home loans to low income groups under PMAY subsidy.  

Home loans serve the primary purpose of purchasing a property or facilitating the construction of one for home buyers. Different types of home loans are taken for different purposes such as –

  • Purchase of Land 
  • Readymade Home Purchase 
  • Home Construction 
  • House Expansion or Extension 
  • Home Conversion 
  • Home Renovation 
  • Loans Against Property or Mortgage Loan

A co-applicant in a home loan is an individual who will be equally responsible to repay the home loan just as the main borrower. He or she has to apply for the home loan along with the main borrower. Lenders will take the co-applicant’s income and credit standing into consideration as well. 

Home loan co-applicants can only be immediate family members or blood relatives. Up to six co-applicants are permitted per home loan application. The following can be co-applicants in a joint home loan –

  • Spouse
  • Father 
  • Mother 
  • Brother who is not a minor 
  • Sister who is not a minor 
  • Son who is not a minor 
  • Daughter who is not a minor 

The time taken for the sanctioning of home loans varies depending upon whether you are a salaried individual, self-employed individual or entrepreneur. Typically,

  • For salaried individuals, home loans can be sanctioned within 4 to 5 business days
  • For self-employed individuals, it may take around 7 to 8 business days to get home loan sanctioned 

Tax benefits on home loans may be availed during filing of annual income tax returns. Home loan borrowers are eligible for tax benefits on home loan as per Section 80 C of the Income Tax Act. The following tax benefits can be availed by home loan borrowers -

  • Deduction for Interest Paid on Housing Loan - The interest portion of the EMI paid for home loan in the year can be claimed as a deduction from your total income. This amount must not exceed a maximum of Rs 2 lakhs as per Section 24
  • Deduction on Principal Repayment - The Principal portion of the home loan EMI paid for the year is allowed as deduction under Section 80C. The maximum amount that can be claimed is up to Rs 1.5 lakh. However, to claim this deduction, the house property should not be sold within 5 years of possession.
  • Additional Deduction under Section 80 EEA – 2019’s Budget has introduced additional deduction under Section 80EEA for home buyers for maximum up to Rs 1,50,000, provided the stamp value of the property does not exceed Rs 45 lakhs. The loan must have been sanctioned between 1 April 2019 and 31 March 2020 to avail this benefit.

If your home loan interest rate hikes, you can reduce your housing loan tenure in the following ways –

  • Increasing your EMI
  • Making a part pre-payment of your housing loan, or
  • A combination of both the ways mentioned above

If you wish to reduce your home loan tenure, visit the nearest loan-serving branch. Once the EMI has been changed, submit new Electronic Clearance Service (ECS) mandate/Post-Dated cheques with the updated EMI amount to get your home loan tenure reduced. 

Home loan is taken for a property whereas a mortgage loan is taken against a property - For a home loan, an applicant borrows money from a lending institution at a given interest rate for buying, constructing, or upgrading of a property.  

For a mortgage loan, financial institutions or lenders extend the mortgage by securing a property. So, though the property is considered to be the collateral for the loan amount, it is the lending institution that is the actual owner of the property till full loan repayment.

 

A fixed interest rate is completely market independent whereas a floating interest rate varies throughout the loan tenure based on changes in the market forces.   With Tata Capital, you get the flexibility to opt for Fixed Rate Home Loan or Home Equity Loan for the initial three years of your home loan tenure following which there will be an automatic change to floating interest rates for the rest of the tenure.

Yes, it is possible for you to prepay your home loan, either in part or in full, keeping the following in mind – 

  • You need prior written approval of the lending authority
  • You need to consider pre-payment charges levied by your lending institution 
  • There could also be a minimum pre-payment amount limit set by your lending authority that you need to consider

Yes, you can take a joint home loan to increase your home loan eligibility. In case of a joint home loan, the income and credit standing of the co-applicant will also be taken into consideration. You can take a joint home loan with the following –

 

  • Your spouse 
  • Your parents 
  • Your children 
  • Your siblings 

 

Basically, anybody who makes up your immediate family is eligible for becoming a co-applicant.

Yes, a sanctioned home loan can be cancelled. However, the processing fees charged during the home loan sanction process will not be refunded. If you want to cancel your loan after receiving your home loan sanction letter, write to your lender. Make sure you do this well before the loan’s disbursal.

Yes, you can extend your home loan tenure as long as it is within your lenders’ terms and conditions. At Tata Capital, the home loan maximum tenure is 30 years.

By extending your tenure, you can reduce the burden of EMIs. You can contact your lender or visit their branch to apply for a tenure extension.

Some common home loan rejection reasons are unmet eligibility criteria, low income, low credit score, and incomplete or incorrect details in your loan application.

If your application was rejected, find out why. If needed, wait for your income and credit score to improve and apply again. Make sure you check your application thoroughly before submitting.

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