Ensure high property quality<\/strong><\/p>\n\n\n\nFinancial institutions are more likely to invest in a property that has a high resale value. This property value is based on its location and access to necessary services. For instance, a property located in an area with extensive rail and road network, nearby airport, and easy access to hospitals, shopping malls, grocery stores, etc., will have a higher resale value compared to that situated in a rural location.<\/p>\n\n\n\n
Compare lenders<\/strong><\/p>\n\n\n\nWith so many creditors promising several offers on loans against property, do not forget to compare them. Check for loan against property interest rate and other policies like available tenor, eligibility requirements, repayment options, and application process, besides maximum loan offered. Also, enquire about additional or hidden costs, including processing, documentation, and pre-payment charges, if any.<\/p>\n\n\n\n
Plus, note that the Income Tax Act does not have provisions for tax exemptions on interest rate of property loans. If you aim to use these funds to purchase or construct a new house, apply for housing finance to enjoy home loan tax benefits on interest payment.<\/p>\n","protected":false},"excerpt":{"rendered":"
A Home Loans Consumer Report showed that approximately 46% of property buyers prefer apartments in the Rs.30 lakh-Rs.1 crore price range in 2021. This can be attributed to the demand for more rooms to accommodate \u201cwork from home\u201d facilities, supported by a lowered loan against property interest rate. On the other hand, LAP delinquency rates […]<\/p>\n","protected":false},"author":1,"featured_media":211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[58,57,56],"_links":{"self":[{"href":"https:\/\/www.yournewsfit.com\/wp-json\/wp\/v2\/posts\/209"}],"collection":[{"href":"https:\/\/www.yournewsfit.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yournewsfit.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yournewsfit.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yournewsfit.com\/wp-json\/wp\/v2\/comments?post=209"}],"version-history":[{"count":1,"href":"https:\/\/www.yournewsfit.com\/wp-json\/wp\/v2\/posts\/209\/revisions"}],"predecessor-version":[{"id":212,"href":"https:\/\/www.yournewsfit.com\/wp-json\/wp\/v2\/posts\/209\/revisions\/212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yournewsfit.com\/wp-json\/wp\/v2\/media\/211"}],"wp:attachment":[{"href":"https:\/\/www.yournewsfit.com\/wp-json\/wp\/v2\/media?parent=209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yournewsfit.com\/wp-json\/wp\/v2\/categories?post=209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yournewsfit.com\/wp-json\/wp\/v2\/tags?post=209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}