Myths to Ignore While Getting a Home Loan

Many people may have the required eligibility to apply for the home loan, but they still don’t apply for it. 

Other than facing different issues, they also don’t do that owing to some home loan myths. 

Let’s check them out in today’s post so that you can ignore them and apply for the housing finance confidently!

1. Shorter loan tenure is good 

Yes, when you avail shorter loan tenure, then it means saving on the home loan interest rates. But you also need to understand that it means paying a bigger loan EMI amount that may affect your outlays. It can leave little scope to concentrate on other outlays. 

2. Good cibil score comes with the loan approval 

Yes, the cibil score is one of the key factors while determining the home loan eligibility of the applicant. If it is higher, then you may get the loan approval. But factors like your income, age, job stability, employer credential, property location also matter.

3. Home loan rates are not negotiable 

You may still believe that home loan interest rates are not negotiable. But this is far from true! If you are not satisfied by the home loan rates by lenders, then you can always negotiate for a lower rate. Having a good cibil score, repayment and employment history may help you get an affordable rate of interest. 

4. Lenders levy heavy penalties for making prepayments and foreclosure

Another myth doing the round is that if you make prepayments and foreclose the loan earlier than the tenure, then you need to pay exorbitant charges. It is not true! Lenders are not supposed to charge any amount on floating rate loans. For fixed rate based housing loans, your lenders may ask for some money. It may vary from one lender to another. 

You are now aware of the leading home loan myths that you can now ignore and apply for a home loan with confidence. If you are ready, then you can now apply for the housing loan by comparing different loan offers online. This way, you can pick the best deal matching your needs and repayment capacities.   

Must Read: Home Loan EMI: 6 Ways You Can Reduce It Easily

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Is Investing in Real Estate the Profitable Decision?

Are you looking to own a home or invest in a property that can provide a steady return in the long-term? For this, Prestige Misty Waters has emerged as the best property that is best to make money and is attracting investors. You can invest now and after a few years, you can sell to get great profit.

Bangalore is attracting investors to invest in real estate as this is the most profitable way to grow your money. Currently, the infrastructure supports the growth of property and people looking for a permanent home in this city over rent. The property market of India is volatile and is experiencing an increase and decrease in property value.

The property of Bangalore is experiencing a good appreciation each year and proving as the best time to invest in a dream property for a better return. Just look for the prime property that can provide you with a promising opportunity to get a better return.

If your search is for the luxury apartment that can offer you a great investment option for long term profit, Prestige Misty Waters is the best option. Bajaj Housing Finance provides a home loan to investors to support them financially with decent tenure and interest rates.

Must Read: Bajaj Housing Finance Home Loan Interest Rate

This is definitely the right time to invest in a property that can help you to save tax, experience better return on investment and get easy and affordable property. Just look for the available real estate options and look for the property to get a better investment.

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Why Pune is a Favourite Destination for Real Estate Buyers?

Pune is a booming city and the population is also increasing in the city for a number of factors. First of all, due to education and job opportunities, many students and professionals are settling down in this city. This has caused the rising demand for better residential projects in Pune.

But before anything, one has to choose the reputed property builders such as the Kolte Patil Life Republic. It is because of such leading developers one can find suitable living spaces in the city.

In order to know why buyers are inclined to buy real estate projects in Pune, let’s discuss in detail-

# Higher Education

Pune is a place that has very reputed schools and colleges where one can carry out their studies successfully. Especially, for higher courses, this city offers highly reputed institutes and colleges. From media studies to engineering, you can get lots of options here.

# Job Opportunities

The city offers different offices and field to work for. Professionals from other cities also find jobs as per their quality and academic qualification. It also has an IT park and various other types of job opportunities.

# Varieties of Projects

You will not just find high-end apartments and houses. The city also boasts affordable housing complexes and flats. You can find a suitable place as per your budget. Make sure that you find the best realtor such as the Kolte Patil Life Republic.

Always grab information in detail from the realtor’s website and then decide on the perfect buy.

If you are planning to fund your real estate investment with a home loan, make sure to check and compare different home loan products offered by various lending institutions. For example, with Bajaj Housing Finance Home Loan, you can get many exclusive features such as doorstep services, in-person assistance, flexible repayment options and much more.

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Real Estate or Mutual Fund: Which One Should you Invest in

Both mutual funds and real estate are popular investment options and should be a part of your investment portfolio. Both these asset classes can yield good returns, provided you make informed choices and remain patient.

Returns on mutual funds or real estate aren’t guaranteed. While real estate yielded profitable returns between 2000 and 2010, they slumped in 2011. To ensure good returns on your real estate investment, the property's location and repute of builder plays an important role.

For instance, if you invest in a property such as Provident Square Park in Bangalore, you can expect decent returns in the long run. On the other hand, mutual fund returns depend on the chosen fund and your risk appetite. Also, the longer you stay invested, the higher are the chances of making profits.

In terms of liquidity, mutual funds hold an edge over real estate. You can redeem your mutual fund units anytime you want to, which is not the case with real estate. You might need to wait for an extended period to find the fair value for your property. Here again, the property's repute and amenities play a crucial role.

When it comes to tax benefits, only Equity-Linked Savings Scheme (ELSS) qualify for tax exemption. Investments up to Rs. 1.5 lakh in a fiscal in an equity fund can be claimed as deductions. On the other hand, real estate investments give you home loan tax benefit if you have purchased a property by availing a home loan from Bajaj Housing Finance. You can claim a deduction on both the principal and the interest.

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Grab the Opportunity to Buy Apartment in Mumbai in 2019

If you are planning to buy a house in Mumbai, you need to have financial stability without putting yourself in a financial burden over the years.

Here are certain things you need to consider before buying or investing in a property in Mumbai:

# Know Your Budget

First, you need to determine your budget. Find a good reason to buy a property in Mumbai and then see your budget – whether you want to buy a small apartment, rent an apartment or buy a flat or house.

You can look for a property in Sunteck Westworld for better amenities and fetching you high returns in the future as well.

# Check The Credit Score

If you don’t have a big amount to buy a property in one go, consider applying for a home loan with any trusted bank or non-banking financial company. There are so many financial institutions like Bajaj Housing Finance offering people easy home loan options to help them get their dream home.

# Don’t Choke Your Savings

Do invest in new flat in Mumbai without choking your savings. You need to consider the future responsibilities as well. So, don’t break your entire savings. Keep some for the emergency fund as well.

# Check On An Existing Debt

If you already have a loan, don’t get another loan. It will be an added burden on you.  Try to repay the first debt before applying for another home loan or any other loan.

Additional Read: Bajaj Housing Finance Home Loan

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Here’s How you Can Buy a Home Within Budget in Bangalore

The Silicon Valley of India, Bangalore is the home to some of the most prestigious real estate projects such as Sobha Dream Acres Panathur. There are several flats for sale in Bangalore offering high-end amenities.

In case you are looking forward to buying your dream home in this city within budget, there are certain ways to do so. Research is the first step.

It helps you know about the various projects undertaken by real estate companies in Bangalore at different locations of the city. There are several home aggregator websites that help you choose your dream home based on the inputs provided.

You can also talk to various experts to know more about the home buying process. The next step is to review loan offerings from lenders. Just as buying a home is a long-term commitment, home loans entail paying EMIs for several years. know how to apply for home loan. 

Hence, it’s essential to opt for a lender offering home loan at a competitive rate of interest. It’s also vital to opt for a home loan on floating interest rates that are lower than fixed rates and attract no prepayment penalties.

Lastly, ensure to have a good credit score as lenders closely evaluate it before loan approval. A good credit score, above 750, helps you avail a home loan at a lower interest rate that keeps a tight lid on the interest outgo.

Over the years, it brings down the cost of purchasing a home. For a good credit score, do pay outstanding bills on time and keep your credit utilisation ratio low.

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Investing in One of the Best Real Estate Projects in Mumbai

Real-estate prices in Mumbai have always been high and as such has proved to be more of an impediment for those who wish to invest in real-estate in the city. This is why many individuals have now started checking out homes in the suburbs. Here too there are a number of options but one that has particularly stood out is Palava City.

 

Palava City

 

As the very name suggests, Palava City is a full-fledged city in itself which has been made by the Lodha Group who have been credited for making some of the most beautiful projects in the city.

There are a number of townships in this area which have not only been built by some of the most reputed developers but what truly sets them apart is the fact that they are also Vastu compliant. Some of the other benefits of investing in the residential project are as follows -

 

# Location

 

Palava City is very conveniently located as it enjoys great connectivity with other areas such as Navi Mumbai, Kalyan and Thane as it is located on the Kalyan-Shil Road. Moreover, it is just an hour’s drive from South Mumbai and a mere 20 minutes away from the upcoming Navi Mumbai International Airport. Some of the nearby railway stations include Vashi, Niljem and Dombivali to name a few.

 

# Spacious Apartments

 

Once the locality and the amenities have been established to be good, the final consideration which remains is how the dimensions of the project are like. Different people have different needs and in order to cater to the needs of various groups of people, Lodha Palava has apartments ranging from 729 sq.ft to 1314 sq.ft. There are also independent villas and twin flats to choose from.

To finance your home, you can get a home loan at lowest home loan interest rate from the Bajaj Housing Finance which is the India's most trusted housing company.

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Enjoy Living Luxury Life By Investing In Ahmedabad Property

Located within the Ahmedabad Municipal Corporation Limits, Godrej Garden City is home to nearly 1500 families. It boasts of world-class amenities and the architects of the project are Skidmore, Owings and Merrill (SOM), who have designed the Burj Khalifa, the tallest structure in the world.

Godrej Garden City is one of the property in Ahmedabad promotes sustainable living with 10 acres of space around the complex beautifully landscaped housing walkways, jogging tracks and children’s play areas. Because of the green initiatives, it has received the Green Residential Society Platinum Certification from the Indian Green Building Council.

As it is a gated community, it offers the privacy you desire. The township has a 3-tiered security system which is quite robust. It also offers a covered parking facility with reserved spaces. There's a separate parking area for visitors.

The township offers all civic amenities within the confines of the including medical centres, banks, schools and hospitality outlets. Additionally, there is a club house sprawling across 70,000 sq feet that offers world-class facilities. There are several other recreational facilities such as an indoor play area and a swimming pool.

Located at Jagatpur, about 1.8 km from the SG Highway, Godrej Garden City is easily accessible from the airport which is just a 40-min drive. The nearest railway station also merely 20 km away. It's also close to the BSNL Training Institute and the Nirma University.

Built by one of the most trusted names in the real estate industry, Godrej Properties, Godrej Garden City offers affordable green homes for a high-end living experience. Bajaj Housing Finance Limited offers home loan up to Rs. 3.5 crore to help you buy your dream apartment at Godrej Garden City.

Additional Read: Ahmedabad: The Upcoming Real Estate Destination

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Why To Purchase Property In Hyderabad?

Hyderabad is renowned for its historical importance and relevance. It is the City of Mughals and Nizams, which is also known as the Pearl City of India. It is the fourth most populous city in India. It is an expanding IT center and the second-largest film city in India. You will find many more historical and technological developments in the city, that will definitely convince you to invest in properties as your home.

One of the best apartments in Hyderabad is My Home Abhra, the latest luxurious venture by My Home Group. This particular project includes 387 apartments across 5 acres of land in a prime location at Madhapur.

The Reasons That Will Convince You To Settle In The City Are:

You can choose to purchase a flat in Hyderabad, as buying a flat can be a cost-effective option than buying an individual house. If you choose to live in flats, you will be able to experience some additional benefits such as maintenance and security of your home. Even you can finance the purchase of a home with the help of the Bajaj Housing Finance Home Loan.

The city Hyderabad is an expanding IT hub and still, it is offering abundant space for the residential areas of the city. You will also find many facilities such as the snow-themed park in the world and the seventh oldest university in India and the lengthiest flyover in India.

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