Kinds Of Loans In India Against Properties

Ram India Group - Pune

India is a growing economy where the majority of the people are looking for properties, either  for  investment purpose or for making a property purchase for residence or both. The nation has caught the attention of many of the international investors who have plans to invest in property in different locations of the country like India.

Many of you would also be willing to buy a property in one of the cities in India but before you go ahead with buying a property in India, you need to have sound knowledge about the loans that the banks are offering and against what asset you can opt for a loan. In this blog we will be discussing about what are the different kinds of loans that you can opt for against various securities and then move on to the alternatives you can opt for loans other than the personal loan in the upcoming blogs.

Have you ever given a thought on what all kinds of loans are available for you in India?

These could be assets which you can mortgage as an existing asset and use to apply loan at a lower interest rate.

Basically, there are two kinds of loans, Secured Loan and Unsecured Loan.

Secured Loan: It is a loan where the loan lender has access to some sort of asset of the borrower which stands as a security for the lender in case the  borrower is unable to repay the loan. The lender in this case can liquidate the security asset and regain the full or partial amount of the loan granted to the borrower as this acts as a sense of security in Secured Loans and hence, the rate of interest is lower on these loans. 

Unsecured Loan:  In this kind of a loan the lender of the loan does not have any access to any of the assets of the borrower and in case the borrower runs away, the lender has no way to regain the loan sanctioned to the borrower and hence, due to this the rate of interest in this kind of loans are higher than that of the secured loans. 

If you are willing to make a property purchase with a real estate firm like Ram India Group in Pune, then you can apply for a home loan anytime after you have decided to acquire or construct a property, even if the property has not been selected or the construction has not commenced. Besides,you can also avail of the loan facility even if you want to renovate or extend your home.

We shall discuss about the different types of loans that you can opt for a home loan in our upcoming blogs. Till then stay tuned.

Read More :- 

1) Impact of increase in Stamp Duty in Maharashtra

2) Top three IT centric locations in Pune you may consider for investment

Impact of increase in Stamp Duty in Maharashtra

Many of us have been making plans of buying a property in a city like Pune for the past few years. However, due to some or the other reasons, could not finalize onto a property. But now that the scenario in the real estate industry in the city and the complete state of Maharashtra in general is not the same as few years back, people who have been showing interest in making a property investment or purchase may now have to dig their pockets for more money for the same property. The State government of Maharashtra has recently imposed a 5% of stamp duty on all the property purchases in the places that fall under municipal boundaries throughout the state.

Stamp Duty

However, this would result in a further rise in the price of the property, the overall effect of only this would not have a huge impact. For an example, if we consider a property worth Rs. 50 Lacs located in within the municipal corporation limits of the city named “ABC”, the total cost would add up by only 0.34% for the one who is buying that property. This would happen if it is properly analysed keeping in mind the rise in stamp duty. Also, a similarly costing property is situated in the municipal council’s limits, it would charge a lesser stamp duty , say 4%, and even lesser, if it is situated in a Gram Panchayat where it would be just 3% or so. If you are a potential buyer and want to buy property in locations that fall in the outskirts of the city, then it would prove to be beneficial for you. These locations in the outskirts of the city would have many projects which are under construction that provide houses in affordable rates and low costs.

However, if you feel this is it to the impact of the increased stamp duty by 5%, then you may be wrong at the moment. As a buyer, you will still have to take into consideration the overall impact of this increase in stamp duty which has been recently proposed to be taxed at a raised rate referring to the measures brought in by the Central Budget. The increase in the service tax for property buying and commercial lease undertakings will also add to the total cost of the property. Hence, when we look at all of these factors, they may surely cause some intensity in the prices of the properties.

Read More:

- Top three IT centric locations in Pune you may consider for investment

- Factors to be considered before opting for a home loan

Top three IT centric locations in Pune you may consider for investment

Pune’s real estate scenario has been witnessing rapid growth and changes owing to the presence of many international and domestic IT companies the lure techies from overseas as well as the young country minds. Ram India Group with over decades of presence in the region has been well known for bringing about developments with an innovative design, quality construction and presence in prime locations. The investors are indeed offered with value for money deals are stand true to customers delight. Apart from residential, the group also takes pride in offering commercial spaces measuring up to 3, 00,000 square feet.

Be it a first time investor or an experienced one, buyers are often faced with the location dilemma when it comes to investments. Some of the top places in Pune that you may consider for investments are –

Baner – Baner has witnessed a steady growth in the real estate prices owing to many international and domestic IT companies sprawling in the vicinity. Until not long ago, Baner had been known to offer homes to the mid-income segment. Lately, it has seen appreciation of about 20-25% as it continues to benefit due to factors such as serenity of location, presence of good social infrastructure, proximity to the Pune-Mumbai Expressway and the thriving IT hub at Hinjewadi. Moreover, its easy accessibility to Central Pune has also boosted its demand.

Pimple Nilakh - Located in the western part of Pune, Pimple Nilakh is indeed a suburb situated in the Pimpri Chinchwad Municipal Corporation’s jurisdiction. Owing to its proximity to Hinjewadi IT hub, the city has emerged among one the fastest-growing locations in Pune. Pimple Nilakh also enjoys good peripheral availability of the social infrastructure as compared to its neighboring areas.

Charoli – The city has been known to cater to the needs of mid-income segment involving professionals from the IT and manufacturing/industrial sectors in Pune. The growth in demand for affordable housing needs has indeed given a new lease of life to Charoli. Moreover, the strategic location of this city offers you easy access to railway station, IT hub at Kalyani Nagar and the airport.

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