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Home Loan in Gurgaon

 If you are planning to buy a house in Gurugram, turn to Tata Capital and get:

 

  1. 1.Best-in-class Interest Rates

Tata Capital offers some of the lowest interest rates on home loans in Gurugram. So, you pay less in monthly instalments and turn your dream into reality.

 

  1. 2.Smooth Approval Process

Tata Capital has a completely online application process with minimal documentation. Also, our easy-to-meet eligibility criteria ensure your application is processed quickly so you can move into your new house without delay.

 

  1. 3.Multi-purpose Loan

You can use the loan amount to purchase an apartment or construct a brand-new house. If you already own a house in Gurugram, you can use the loan amount to renovate or extend your home.

 

  1. 4.Easy Repayment

Tata Capital allows you to opt for flexible loan tenure of up to 30 years. So, you can repay the loan without putting any constraints on your finances.

 

  1. 5.Future Proof Investment

Gurugram is a technology and financial hub that attracts people from all over the country. So, a house in Gurugram will be a valuable asset. Tata Capital ensures that you make this investment without any hassle.

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 Gurgaon Advantages

Luxury at its finest

When looking for luxurious residential housing projects, Gurgaon is the place to be. With high-end skyscrapers, gated localities, luxury apartments, gorgeous villas, condominiums, plush apartments, etc., the millennium city offers choices aplenty. Since the price tags on these properties are on the steep end, a home loan in Gurgaon can help you cover the expenses.

Well-planned infrastructure

Besides luxury, the residential units in the city are also bedecked with ultra-modern amenities such as gymnasiums, swimming pools, yoga/meditation areas, flower gardens, community halls, and more. The gated residential communities are also packed with multi-purpose basketball and badminton courts, clubhouses, schools, grocery stores, hospitals, malls, restaurants, and many more amenities. When thinking about raising your standard of living by investing here, a housing loan in Gurgaon seals the deal.

Luxury at its finest

When looking for luxurious residential housing projects, Gurgaon is the place to be. With high-end skyscrapers, gated localities, luxury apartments, gorgeous villas, condominiums, plush apartments, etc., the millennium city offers choices aplenty. Since the price tags on these properties are on the steep end, a home loan in Gurgaon can help you cover the expenses.

Well-planned infrastructure

Besides luxury, the residential units in the city are also bedecked with ultra-modern amenities such as gymnasiums, swimming pools, yoga/meditation areas, flower gardens, community halls, and more. The gated residential communities are also packed with multi-purpose basketball and badminton courts, clubhouses, schools, grocery stores, hospitals, malls, restaurants, and many more amenities. When thinking about raising your standard of living by investing here, a housing loan in Gurgaon seals the deal.

What are Interest Rates for Home Loan in Gurgaon?

 As a city with umpteen employment opportunities, growing social infrastructure, and well-planned civic amenities, Gurgaon extends a high standard of living. Even the availability of home loans in Gurgaon is not an issue. This way, Gurgaon has rapidly become a real estate investment hotspot.

Since home loan interest rates depend on your eligibility, it's crucial to fulfil the prescribed eligibility conditions by the lender. This way, you can easily qualify for an affordable housing loan in Gurgaon and make your realty investment.

What's more, the home loan interest rates in Gurgaon are at an all-time low making this the perfect time to make a property purchase. Why? That's because the interest rates directly affect your EMIs. Lower rates of interest mean you pay lower EMIs. At Tata Capital, you can bag the lowest home loan rates in Gurgaon and own a premium property in the millennium city in no time.

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

To get a Tata Capital Home Loan in Gurgaon, you must meet some basic home loan eligibility criteria -

  • You should be aged between 24 to 65
  • You must be salaried or self-employed
  • Required work experience for a salaried professional is two years and three years for a self-employed professional
  • As a salaried individual you should have a minimum monthly salary of Rs. 30,000
  • Your credit score should be 750 or more

 

Use our Home Loan Eligibility Calculator to instantly determine your home loan eligibility.

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

Following home loan documents are necessary for getting a loan:                                  

  • Age Proof (Passport, Driving License, PAN Card, Birth Certificate)
  • Address Proof (Bank Statement/ Voter ID)
  • Identification Proof (Aadhar Card/ PAN Card/ Voter ID/ Driving License/ Passport)
  • Income proof (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                    

EMI stands for equated monthly instalments, which you must pay on a monthly basis to close the loan. To calculate your home loan EMI in Gurgaon, use our home loan EMI calculator available online. All you need to do is input your principal amount, loan term, and rate of interest. Here, you can check the loan EMI for different tentative tenures, desired loan amounts, and expected interest rates.

Once you do that, the calculator displays the EMI amount you will be paying to close your home loan in Gurgaon. The calculator also gives you a breakdown of how much you'll pay towards the EMI's interest and principal components.

That's why it's best to use an online EMI calculator to figure out your potential EMIs before you apply for a housing loan in Gurgaon.

HOW TO APPLY FOR A HOME LOAN ONLINE IN GURGAON

Offline Application Process

  • Customer care –18602676060
  • Email – contactus@tatacapital.com
  • Registered Branch – TCHFL, 3rd Floor, SCO 13, Sector 14, Gurgaon, Haryana 122001

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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