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Opting for a home loan for an under-construction property.

If you're considering purchasing an under-construction property, HeroHousing is here to help you with a tailored home loan solution. HeroHousing understands the unique needs and challenges associated with financing properties that are still being built, and they specialize in providing loans specifically designed for such situations.

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Opting for a home loan for an under-construction property.

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Presentation Transcript

  1. Key Things To know About Home Loans For Under-Construction Property

  2. What should you consider when obtaining an under-construction loan?

  3. Select Your Lender Wisely Choose a lender who assists with a property evaluation.

  4. 01 See if the funds are disbursed in instalments or lump sums. Learn About The Disbursement Process 02 Find out how the interest will be charged in the case of instalments.

  5. Always Negotiate • If you have a solid income, meet all eligibility criteria, and have good creditworthiness, negotiate with your lender.

  6. Get pre-approved loan 01 Check if your previous/existing lender has any pre-approved loan offers for you. 02 Opting for such a loan reduces the paperwork process.

  7. 01 Keep track of the construction stage. Check the Construction Process 02 A delay in construction might negatively impact your repayment terms.

  8. Tax Advantages Learn about the various tax perks under sections 24, 36(1)(iii), 80C.

  9. What to Consider Before Buying an Under-Construction Property? • Try to purchase a house in a good area. • Make sure the floor plan complies with NBC requirements. • Verify if the constructor is utilizing high-quality materials. • Ensure the society has all the amenities it needs, such as parks, temples, etc. • Understand the builder's payback schedule.

  10. Choosing an under-construction property offers flexibility, allowing interior customisation according to your preferences and providing potential tax benefits on financing, among other advantages.

  11. Thanks Would Love to hear from you. Hero Housing Finance Ltd. Address: 09, Basant Lok, Vasant Vihar, New Delhi - 110057 Tel: 18001024145 Email: customer.care@herohfl.com Website: https://www.herohousingfinance.com/ Visit here: Opting for a home loan for an under-construction property? First, know these things.

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