Avoid loan rejection with this Home Loan Document Checklist: Include identity proof (PAN, Aadhar), address proof (utility bills, rent agreement), income proof (salary slips, Form 16/26AS, balance sheet), job continuity evidence, and property papers (title deed, NOC). Requirements may vary by lender. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/documents-required-for-home-loan Country List: India
Section 24 of the Income Tax Act offers homeowners tax benefits on interest paid toward home loans. It allows deductions for municipal taxes, a 30% standard deduction on net annual value, and up to ₹2 lakh annually for self-occupied properties. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/section-24-income-tax-act Country List: India
Purchasing property in India involves legal checks, budgeting, choosing the right location and type, verifying documents, and planning payments. Risks like unclear titles and extra charges (stamp duty, registration, documentation fees) must be considered before finalizing a deal. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/what-should-be-the-process-followed-for-purchasing-a-property-in-india Country List: India
Society Patta is a land document issued by Rajasthan Co-op Society, not JDA. Unlike JDA land, it lacks some legal clarity, making loans harder. Verification is key. Hero Housing Finance provides loans on such properties after due diligence. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/all-you-need-to-know-about-society-patta-property-in-jaipur Country List: India
Affordable housing in India targets low- to mid-income buyers and addresses India’s urban housing shortage. Backed by government incentives, it offers good end-user value and long-term investment potential, especially in early-stage projects with good location. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/what-is-affordable-housing-and-should-you-invest-in-it Country List: India
Gunthewari properties in Maharashtra are small plots carved from agricultural land. While affordable, they carry legal and construction risks. Buyers must verify permissions, documents, and approvals before investing to avoid future complications. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/all-you-need-to-know-about-gunthewari-property-in-maharashtra Country List: India
A home loan EMI calculator helps estimate your monthly payments based on loan amount, interest rate, and tenure. It offers accurate, quick insights, helps compare loan offers, manage finances, and plan repayments effectively to avoid financial strain. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/all-you-need-to-know-about-home-loan-emi-calculator Country List: India
A housing loan eligibility calculator helps assess your loan eligibility based on factors like income, credit score, age, and existing EMIs. It simplifies planning, avoids rejections, and offers insights on EMI and loan tenure for informed decisions. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/all-you-need-to-know-about-housing-loan-eligibility-calculator Country List: India
India offers various affordable housing schemes like PMAY, DDA, TNHB, MHADA, and more, aimed at helping EWS, LIG, and MIG groups own homes. These programs provide financial aid, online application options, and prioritize inclusive urban development. Website URL: https://www.herohousingfinance.com/blog/introduction-to-property-buying/affordable-housing-schemes-in-india Country List: India
Purchasing a home is one of the major achievements in life, yet it seems like a fantasy for many because of the hefty expenses associated with it. Fortunately, with the possibility of apply for a home loan, home ownership is more within reach today. Whether you’re a first-time homeowner or would like to move up to a better home, a home loan can assist…
