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Find out the various kinds of home loan in India

Trying to buy a flat or home for yourself. And having problem is getting home loans. Don't worry now, read the following content to know more about types of home loan in India. http://www.harshmacro.com/the-coronation/

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Find out the various kinds of home loan in India

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  1. Find out with us the various kinds of home loans in India!

  2. Home loans have become a trend in the property buying arena owing to the skyrocketing costs of residential housings and apartments in India. Most people zero upon this interesting option in order to buy or transform their residential property, as this happens to be the easiest manner to buy a house. Once you have made up your mind to buy a property in the nearby future, you can apply for a loan even before settling on the property.

  3. In this scenario, the only aspect that matters is the property must be pre-approved by the bank. Since a decade, the demand for home loans has drastically increased in the nation with myriad of people applying for home loans in order to build their dream house.

  4. Thus it won’t be wrong to say that home loans happen to be a trendy way of buying a house today and every day there are countless people applying for home loans and the lenders are willingly offering loans for buying houses as well as other related purposes. Today there are several of banks offering home loan facilities that accommodate diverse requirements of the various customers.

  5. Here are some of the popular types of home loans.

  6. Land Purchase Loans: This kind of loan is provided to purchase a plot of land on which the applicant plans to build a home. In India, most banks extend up to 85 percent of the price of the land and they can be availed for residential and investment purposes, with banks like ICICI bank and Axis Bank offering the facility.

  7. Home Construction Loans: Such loans are of great help for those keen on getting a house constructed the way they desire instead of buying an already constructed one. In this kind of loan, the application and approval procedure is slightly different. Canara Bank, UCO Bank, Bank of Baroda and many other present these loans.

  8. Home Expansion/Extension Loans: These loans come in handy when anyone is keen on expanding their present house and the activities include modification in terms of constructing a new room, another storey, etc. Banks like HDFC Bank, Bank of Baroda and others offer home extension loans.

  9. NRI Home Loans: This kind of loan facility is for the non-resident Indians keen on buying residential property in India. Even though the formalities are same as for the residents, the paperwork is quite an intricate task. NRI home loan facility is offered by mostly all public and private sector banks.

  10. Harsh Macro Developers Ltd. Harsh Tower, Plot No.8, Near Gopalpura By-Pass, Triveni Nagar Mod Jaipur- 302019, Rajasthan, India www.harshmacro.com +91 141 5168168 /HarshMacro

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