Buyer's FAQ's

It depends on your income and repaying capacity. You can add your spouse's income to increase the amount of loan.

Tax benefits are available to consumers of house loans for the interest component as well as principal component of the housing loans. The current budget has left the upper limit of the interest payment deduction at Rs 150,000 per annum. The section 88 also allows tax benefits on principal repayments.

In reducing balance you reduce the amount of principal payment already paid by you from the initial loan amount. You pay interest only on principal unpaid till that point of time and not the entire loan amount.

In reducing balance you reduce the amount of principal payment already paid by you from the initial loan amount. You pay interest only on principal unpaid till that point of time and not the entire loan amount.

Common Documents

  • Updated Bank Pass Book / Statement of accounts for last 6 months (Xerox)
  • Ration Card (Xerox)
  • Business Profile: A note on business mentioning nature of business, list of clients, suppliers, staff strength, geographical spread, etc.

Partnership

  • Copy of Partnership Deed
  • 3 yrs P & L a/c, B/S, Computation of income certified by CA.
  • Individual Computation of Income and tax returns for last 3 yrs.

Proprietor / Professional

  • 3 yrs P & L a/c, B/S, Computation of income certified by CA
  • Income Tax return file statement for 3 yrs

Pvt. Ltd. Company

  • Remuneration certificate
  • Board’s resolution for fixing remuneration.
  • Company's annual report
  • Individual IT returns for last 3 yrs.