EMI CALCULATOR
+91-99111 71025

HOME LOAN IN GURGAON

Apply Now !
to get a call back within 24 hrs

Please enable JavaScript in your browser to complete this form.

Features & Benefits

Tie-up with Multiple Banks & NBFCs

Longer Period

Tenure upto 30 years

Low Interest Rates

Quick Disbursal

Approval in 48 Hrs

Loan amount upto Rs.15 Cr

Home Loan DSA in Gurgaon

A home loan, also known as a mortgage Loan, is a type of loan provided by a financial institution, such as a bank, NBFC or any other mortgage lender, to help individuals purchase a home. The borrower receives a fixed amount of money to buy the property and agrees to repay the loan over a specified period, typically ranging from 10 to 30 years, though shorter and longer terms can also be available.We are top Home Loan agency in Gurgaon facilitating Home Loan from HDFC Bank, ICICI Bank, SBI, BOB and other prominent banks.

Here are some key aspects of a home loan:

  1. Principal: This is the initial amount of money borrowed to purchase the home.
  2. Interest: The cost of borrowing the principal, typically expressed as an annual percentage rate (APR). The interest can be fixed (stays the same throughout the loan term) or variable (changes with market rates).
  3. Down Payment: The upfront payment made by the borrower towards the purchase of the home, usually expressed as a percentage of the total home price. A larger down payment often results in better loan terms.
  4. Loan Term: The duration over which the loan is repaid. Common terms include 15 years, 20 years, and 30 years.
  5. Monthly Payments: The borrower makes regular (usually monthly) payments also called EMI (Equated Monthly Instalments) that cover both principal and interest. Over time, a larger portion of each payment goes towards the principal as the loan balance decreases.
  6. Amortization: This refers to the gradual repayment of the loan principal over time. An amortization schedule shows how much of each monthly payment goes towards interest and principal.
  7. Collateral: The home itself serves as collateral for the loan. If the borrower fails to make payments, the lender has the right to foreclose on the property and sell it to recover the loan amount.

Home loans are essential for most people to afford a home, as few can pay the entire purchase price upfront. The terms of the loan, including interest rates and repayment periods, can significantly impact the overall cost of the home.

Rate of Interest on Home Loan in Gurgaon

The rate of Interest on home loan vary depending on the bank or financial institution, as well as the loan amount and the borrower’s profile. Here are some of the current interest rates:

  • State Bank of India (SBI): 8.50% – 9.85%
  • HDFC Bank: 8.45% – 9.80%
  • ICICI Bank: 8.70% – 9.50%
  • Axis Bank: 8.85% – 14.00%
  • Bank of Baroda: 8.50% – 10.60%
  • Punjab National Bank: 8.70% – 9.55%

These rates may differ based on factors like the loan amount, the borrower’s profile, the borrower’s credit score, and whether the rate is fixed or floating.

A wide range of banks offer home loans in Gurgaon. Here are some of the major banks that provide home loans:

Public Sector Banks

1. State Bank of India (SBI)
2. Punjab National Bank (PNB)
3. Bank of Baroda (BoB)
4. Canara Bank
5. Union Bank of India
6. Bank of India (BoI)
7. Central Bank of India

Private Sector Banks

1. HDFC Bank
2. ICICI Bank
3. Axis Bank
4. Kotak Mahindra Bank
5. IDBI Bank
6. Yes Bank
7. Federal Bank

Housing Finance Companies (HFCs)

1. HDFC Ltd.
2. LIC Housing Finance
3. Indiabulls Housing Finance
4. PNB Housing Finance
5. Bajaj Housing Finance
6. ICICI Home Finance

Non-Banking Financial Companies (NBFCs)

1. Tata Capital Housing Finance
2. Aditya Birla Housing Finance
3. Mahindra Finance
4. Reliance Home Finance

These institutions offer various home loan products with different interest rates, tenure options, and terms. The choice of lender often depends on the specific needs of the borrower, such as the loan amount, interest rate preferences (fixed or floating), and the loan processing time.

Home Loan agents in Gurgaon

Gurgaon, officially known as Gurugram, is a rapidly growing city in the northern Indian state of Haryana. Located just southwest of New Delhi, it has evolved from a small agricultural village to a major financial and industrial hub within a few decades. The city is part of the National Capital Region (NCR) and is known for its modern infrastructure, skyscrapers, and thriving corporate environment.

Gurgaon is often referred to as the “Millennium City” due to its rapid urbanization and development. It houses the Indian headquarters of numerous multinational corporations, particularly in the fields of information technology, finance, real estate, and manufacturing. The city’s economy is bolstered by its extensive business parks, such as Cyber City and Udyog Vihar, which host a plethora of IT and BPO companies.

Gurgaon, now known as Gurugram, has experienced rapid urbanization and development, making it a hub for residential living. The city offers a variety of housing options, from luxurious high-rise apartments to gated communities and villas. Here are some of the major residential areas in Gurgaon:

Major Residential areas in Gurgaon (Gurugram)

 

1. DLF City

  • DLF Phase I-V: One of the most prestigious residential areas, offering a range of high-end villas, apartments, and houses. These phases are well-known for their upscale amenities, parks, and proximity to commercial centers.

2. Golf Course Road and Extension

  • Golf Course Road: A prime location with luxury condominiums, such as The Magnolias, Aralias, and The Palm Springs. It is well-connected and offers easy access to shopping malls, restaurants, and office complexes.
  • Golf Course Extension Road: An extension of Golf Course Road, this area is emerging as a popular residential destination with modern high-rise apartments and gated communities.

3. Sohna Road

  • Sohna Road: A rapidly developing area with a mix of residential and commercial properties. It offers various housing options, including apartments, villas, and gated communities. Notable projects include Vatika City and Unitech The Villas.

4. MG Road

  • MG Road (Mehrauli-Gurgaon Road): Known for its high-rise apartments and proximity to shopping malls and commercial hubs. It is a sought-after area due to its central location and connectivity.

5. New Gurgaon

  • Sectors 82-86: Known as New Gurgaon, these sectors offer a range of residential options, including affordable housing, mid-range apartments, and luxury villas. The area is well-planned and features modern infrastructure.

6. Sushant Lok

  • Sushant Lok Phase I-III: A well-established residential area with a mix of independent houses, villas, and apartments. It is known for its green surroundings and proximity to educational institutions and healthcare facilities.

7. Sector 49 (Sohna Road Extension)

  • A popular area for middle-class families, offering a variety of apartment complexes with modern amenities. The area is well-connected to major roads and commercial areas.

8. South City

  • South City I & II: Residential neighborhoods offering a mix of independent houses and apartments. South City is known for its peaceful environment and proximity to commercial areas.

9. Sector 54 (Golf Course Road)

  • A high-end residential area with luxury apartments and villas. It offers excellent connectivity and is close to major office complexes and shopping centers.

10. Nirvana Country

  • A gated community with a mix of villas and apartments. Known for its well-planned layout, green spaces, and modern amenities.

These residential areas offer a wide range of housing options to cater to different preferences and budgets, making Gurgaon a desirable location for homebuyers and renters.

At homeloanagents.in, we understand the importance of getting the right funding at right time. We have been in the industry for over 10 years and have helped more than 1000 Individuals in getting the required amount of Home Loan in Gurgaon. We have tie up with different PSU’s and private sector banks for different types of financing requirement such as Home Loan , Loan against Property or OD Limit. We are Top Home Loan Consultant /Agency in Gurgaon. You can also contact us even if you are looking for Home Loan on unapproved property in Gurgaon.

Eligibility Criteria & Documents Required for Home Loan

Eligibility Criteria

  • Nationality: You must be Indian citizen residing in India.
  • Age: The applicant must be between 23 years to 70 years
  • Cibil Score: A Cibil score of 725 or higher is ideal to get a home loan.
  • Occupation: Salaried employee, a Professional Individual, and a self employed professional.

Note : This is an indicative list that may change based on your actual loan application.

Documents Required

  • KYC Documents ( Identity and address proof)
  • Proof of Income (Salary slips or P&L Statement)
  • Proof of Business ( for self employed applicants)
  • Account statement for last one year
  • ITR for last two years.
  • Property Documents

How to Improve the chances of getting Home loan in Gurgaon

To increase your chances of getting a housing loan approved, here’s what you can do.

1. Credit clean-up : Your credit score is a vital factor of consideration. A high credit score makes it easier for you to get a loan. If you have a low credit score, identify the reasons by checking your credit report. Sometimes, minor errors affect your credit score adversely. In such a case, inform Credit Information Bureau (India) Limited (CIBIL) immediately about the error.

2. Assess your debt-to-income ratio : Lenders analyse your current income to determine your ability to pay the home loan EMIs. If possible, you can try to increase your annual income through a part-time job or by selling liquid assets like stocks. As your debt-to-income ratio increases, your chances of getting a loan can also increase.

3. Limit your borrowing : If you borrow more money than you need to meet your financial targets, your chances of getting a housing loan are reduced. Save and invest more, and take wise calls on how much money you require as a loan and submit an application for that particular amount.

4. Add a co-signor or guarantor : In certain cases, it can be difficult to get a loan on your own accord. Consider adding a co-signor or guarantor with a good credit score. A co-signor or guarantor ensures that you pay your home loan EMIs on time, and if you fail to do so, they are liable to repay the loan on your behalf. However, getting a co-signor or guarantor comes with its own terms and conditions and so be sure to take note of the same

Types of Home Loan

This is the most popular type of loan people take for fulfilling their dream of purchasing a home. This Home Loan enables you to borrow money from the lender for buying a property of your choice. After the purchase, you can then repay the loan to the lender through monthly instalments.

If you meet the eligibility criteria for the loan, the lender can approve up to 80%-90% of the cost of the property as a Home Loan in Gurgaon.

If you already own a piece of land and would like to build your dream home on the same, you can consider a home construction loan in Gurgaon.

The amount approved for a home construction loan is generally based on the approximate construction cost.

If you already have a home but want to add a room or maybe a floor to it, a home extension loan in Gurgaon can help. Similarly, home improvement or renovation loan in Gurgaon is used for renovating an existing home.

A plot loan in Gurgaon is a loan that offers finance solutions to buy a piece of land on which you will construct a home in future.

Top-up Home Loan is given over and above the existing Home Loan. This loan can be used to furnish your home, renovate your home and even towards personal expenses.

If you have already taken a Home Loan and are repaying it now, you have the option to switch to a different lender. In Home Loan Balance Transfer in Gurgaon, Borrowers get Home Loan from a different lender at a lower interest rate.

Your HOME LOAN is Just One Step Away...

Contact Us Now !

99111 71025

Frequently Asked Questions

To apply for a Home Loan, you need to submit documents such as proof of identity, proof of address, Income Proof, Details of Property to be purchased, loan application form that has been duly filled and your financial documents.

We determine your eligibility after considering various factors, including your monthly income, your monthly financial obligations, your current age and your retirement age, among other things.

We have tie-up with Multiple Govt Banks, Private Sector Banks and NBFCs. We select the bank after considering various factors including your monthly income, your monthly financial obligations, your current age and your retirement age, property to be purchased among other things.

The rate of interest depende on various factors including customer profile and the bank from which we are arranging your home loan. Typically the home loan ranges between 8.5% to 12%.

The EMI is calculated based on specific factors like the amount of the loan, its tenure and the Home Loan interest rate.

A floating rate of interest is linked to a benchmark rate. As per guidelines of RBI, floating rate Home Loans from banks are linked to external benchmark rates. So, rate of interest of your Housing Loan changes in line with the Repo Rate. As a result, the EMI or the tenure of your loan will increase or decrease, depending on the change in the rate of interest.

A fixed rate of interest on a Home Loan means that the rate of interest does not change throughout the tenure of the loan. So, the EMI will also remain fixed.

Yes, you can claim the amount paid towards the repayment of the principal and the interest components as deductions in your income tax return. The limits on the amount deductible are governed by the applicable income tax laws.

Knowledge Centre

Stilt plus 4 floors in Gurgaon: What is the new policy

The new policy in Haryana, particularly affecting cities like Gurgaon, allows for the construction of buildings with stilt parking plus four floors. This policy, introduced by the Haryana government, aims to maximize the efficient use of urban land, increase the supply of housing units, and provide more options for property buyers.

 

Key Features of the New Policy for Stilt Plus 4 Floors in Gurgaon:

 

  1. Permission for Stilt + 4 Floors:

    • Property owners and developers are allowed to construct stilt parking (ground level reserved for parking) plus four floors above it on residential plots.
    • This policy increases the permissible number of floors from three to four, effectively allowing the construction of taller buildings.

  2. Subdivision and Sale of Independent Floors:

    • Each of the four floors can be registered as a separate, independent unit. This allows individual floors to be sold separately, providing more flexibility to buyers and increasing affordability by enabling smaller investments.

  3. Relaxation of Floor Area Ratio (FAR):

    • The Floor Area Ratio (FAR), which dictates the maximum permissible built-up area on a plot of land, has been relaxed in some areas. The permissible FAR ranges from 1.98 to 2.64, depending on the location and size of the plot.
    • Higher FAR allows developers to construct more on a given plot of land, optimizing space and increasing the potential number of units.

  4. Mandatory Stilt Parking:

    • The ground floor or stilt floor must be reserved for parking and cannot be used for residential or commercial purposes. This is to ensure adequate parking facilities and to reduce street parking congestion.

  5. Height and Structural Safety Regulations:

    • The total height of buildings (including stilt parking) is typically capped at 15 to 18 meters (49 to 59 feet), depending on the zoning regulations of the area.
    • Buildings must adhere to structural safety standards, including earthquake resistance and fire safety norms.

  6. Setback and Spacing Requirements:

    • The policy mandates adequate setbacks (the distance between the building and the plot boundary) to ensure proper ventilation, natural light, and accessibility for firefighting services. The exact setback requirements vary based on the size and location of the plot.

  7. Compliance with Local Infrastructure Capacity:

    • Construction is only permitted if the local infrastructure (such as water supply, sewage systems, and roads) can support the increased density resulting from stilt plus four-floor buildings.

  8. Fire Safety and Environmental Norms:

    • Buildings must comply with fire safety requirements, including the installation of firefighting equipment, fire exits, and alarms.
    • Compliance with environmental norms is also required, such as provisions for rainwater harvesting, sewage treatment, and energy efficiency.

  9. Approval and Sanction Procedures:

    • Builders and property owners must obtain all necessary approvals and sanctions from the local municipal corporation or development authority before commencing construction. This includes submitting detailed building plans, structural safety certificates, and environmental clearances.

  10. Development Charges and Impact Fees:

    • The policy may include the payment of certain development charges or impact fees to local authorities, depending on the size and scope of the project. These fees contribute to the development of local infrastructure and services.

Implications for Buyers and Developers:

  • Buyers:
    • The new policy provides more housing options, as independent floors can be purchased separately.Buyers can also avail  Home Loans facility on these properties in Gurgaon. It also makes it easier for middle-income families to invest in property.
  • Developers:
    • Developers benefit from increased construction opportunities and a higher return on investment due to the additional floor. However, they must ensure compliance with the new regulations and standards.

Overall Impact:

The policy aims to enhance housing supply, optimize land use, and promote more sustainable urban development. However, buyers and developers should be aware of the local conditions, regulatory requirements, and potential impacts on infrastructure before proceeding with construction or purchase decisions.

What is DSA in Loans and what services do they offer

DSA stands for Direct Selling Agent in the context of loans. A DSA is an individual or a business entity that works as an intermediary between financial institutions, such as banks or non-banking financial companies (NBFCs), and potential loan applicants. DSAs are responsible for sourcing and bringing in customers who are looking to apply for various types of loans.

Services Offered by DSAs:

  1. Lead Generation: DSAs identify and source potential loan applicants through various means, such as referrals, marketing campaigns, or personal networks.

  2. Loan Application Assistance: DSAs help customers with the loan application process, including filling out forms, gathering necessary documentation, and ensuring that all required information is correctly provided.

  3. Product Information and Guidance: DSAs provide detailed information about different loan products offered by various financial institutions, such as personal loans, home loans, car loans, business loans, and more. They guide customers in selecting the loan that best fits their needs.

  4. Documentation Collection: DSAs collect all necessary documents required for the loan application, such as income proofs, identification documents, and property papers (in the case of secured loans).

  5. Application Submission: Once the application and documents are complete, DSAs submit them to the respective financial institutions on behalf of the applicant.

  6. Follow-up and Updates: DSAs keep track of the application status and regularly update the applicant on the progress, addressing any additional requirements or issues that may arise.

  7. Customer Support: DSAs often provide ongoing support to applicants even after the loan is disbursed, helping with any queries or service-related issues.

  8. Cross-Selling Financial Products: In addition to loans, DSAs may also offer other financial products such as credit cards, insurance policies, or investment products, depending on their association with financial institutions.

They play a crucial role in expanding the reach of financial services, especially in areas where banks may not have a direct presence.Homeloanagents.in is one of the Top Home Loan DSA in Gurgaon.

Scroll to Top

Apply Now!
To get a callback within 24 Hrs

Please enable JavaScript in your browser to complete this form.