Loan Against Property In Chennai | Loan Against Commercial Property | Loan Against Unsold Apartment (2024)

There are lots of offers available in finance market for loan against property. It’s simply defined by pledging your property with Lending company and avail finance to fulfil your finance needs. Some customers may avail loan against property easily and some people find difficulty in avail Loan against property funds due to some lack in eligibility. It is very simple to get finance on the property with our support for those who find difficulty in avail finance. There is a wide range of finance option to avail loan against property.

The difficulties in availing loan against property can be overcome and enjoy the maximum finance on your property value can be possible by travel through our platform. On implementing our proper guidance loan against property can be possible. If you are seeking for the lowest rates on loan against property, a hopeful support and advice can surely help you a lot in fulfil your finance need and help you easily distinguish between the similar kinds of loan solutions that are available.

There is a broad range of financing schemes on offer by the loan against property providers and it might be difficult to decide on the best one, with the sheer variety of options available. Some advice along with a little bit of research and patience on your end is a must because our primary lookout is to get the maximum value out of your property in the form of this loan against property and that too with the lowest possible interest rate so that the EMIs do not cause as a huge burden on your shoulders.

If you search smartly, you can be certain of finding the best possible loan against property rates in Chennai. Generally this type of loan is procured by people for numerous reasons. There may be infinite reasons for which this loan comes in very useful.

Know More About Loan Against Property

On getting loan against property some people may find difficult in value of property, some may find difficulty in location of property, some may find difficult in type of property, some difficulties in eligibility, some difficulties in taking over from existing banker or lender and more. There is only one solution for all difficulties to be easily tackled with us Khannan Fin Serv Pvt Ltd by implementing our precious advice to get loan against property.

However, we have to take pretty cautious and be patient if we wish to get the best loan against property in Chennai in terms of the least interest rates. Since this loan against property comes in smaller tenures as compared to home loans, the EMIs are seen to be quite high unless you get the lowest interest rates. This is why you first have to confirm to their eligibility criteria and also keep in mind all necessary information of Loan against property.

Significant Information On Loan Against Property

The types of property can apply for Loan against property
1.Loan against property on Residential land with building
2.Loan against property on Commercial land with building
3.Loan against property on apartment
4.Loan against property on government allotment property
5.Loan against property for Building construction
6.Loan against property on Residential land property up to 50% on value
7.Loan against property on Commercial land property upto 50% on value
8.Loan against property on trust property
9.Loan against property on Marriage Halls
10.Loan against property on ware houses
11.Loans against property Industrial property

Eligibility Criteria for LOAN AGAINTST PROPERTY

1.Loan against property on income from business profession
2.Loan against property based on Bank account statement
3.Loan against property on Monthly GST Returns filed
4.Loan against property on Rental income received
5.Loan against property on salary income
6.Loan against property for new projects with projections

Loan against property with affordable interest price and loan against property with maximum finance amount minimal documentation.

Loan against property for Business Professionals

Business professionals that are medium business and large corporates can avail loan against property easily based on their financial strength. The property which you pledge for loan against property it’s possible to avail up to 100% on present value., Why because utilization of funds to your business. The end use purpose is must to value your finance need.

The business professionals who were into tremendous business such as Trading, Manufacturing, Suppliers, Contractors, Exporters, Importers, ware housing, clearing & forwarding , couriers and more business owners will enjoy more 100% Loan against property on your property value.

There is wide range of opportunities for business entrepreneurs to avail loan against property with a maximum finance amount and enjoy truncated rates. The Loan against property schemes may be updated once in every circular under the guidance of reserve bank of india.

Loan against property from 50Lakhs to 200Crores can be possible based on your strength & capability, Strong utilization purpose and property worth. Also its possible to avail moratoriums for business owners.

Loan against property for Salary professionals

Salary professionals may avail Loan against property with our guidance easily and very quickly
The eligibility criteria are very simple and based on your month take home pay.
The loan against property can avail by combining salary income of family members too.
A combination of salary income and rental income will also be considered for loan against property.

Take the right choice with us and groove with bright future.We Khannan Fin Serv Pvt Ltd always with you to show the right way at a right time to reach success simply

Quick Enquiry

Loan Against Property In Chennai | Loan Against Commercial Property | Loan Against Unsold Apartment (2024)

FAQs

Which bank is best for a loan against property? ›

5 Best Banks to Apply Loan Against Property in India
  1. 5 Best Banks to Apply Loan Against Property in India. 1 – HDFC Bank. ...
  2. 1 – HDFC Bank. HDFC Bank is a trusted financial institution in India and offers loan against property worth 65% of the market value.
  3. 2 – AXIS Bank. ...
  4. 3 – LIC Housing Finance. ...
  5. 4 – ICICI Bank. ...
  6. 5 – YES Bank.

Can NRI get loan against property in India? ›

NRI Loan Against Property (LAP)

With HSBC's Loan Against Property (LAP) for NRIs, you can raise funds against your residential or commercial property in India whether it's for consolidating debts, looking for better opportunities, your child's education or any other personal/business needs.

What is a loan against property called? ›

LAP is a secured loan taken against an individual's property. It is a loan offered by banks or non-banking financial companies (NBFCs). This loan is generally taken out for large expenses such as home renovations, business expansions, or investments.

How do I get a loan against a property? ›

3 Ways to Borrow Against Your Assets
  1. Home-equity line of credit. What it is: A home equity line of credit (HELOC) is a revolving line of credit, typically with a variable interest rate, collateralized by the equity in your home. ...
  2. Margin. ...
  3. Securities-based lines of credit.

How much money can you borrow against a property? ›

Most lenders allow you to borrow around 85% of your home's value, minus what you owe on the mortgage. With recent higher home values, that amount might be more than you think. The average American homeowner held nearly $200,000 in equity in June 2023, according to the Black Knight Home Price Index.

What credit score do you need to borrow against your house? ›

Requirements for home equity loans

Typical requirements for home equity loan applicants include: A minimum credit score of 620. At least 15 percent to 20 percent equity in your home. A maximum debt-to-income (DTI) ratio of 43 percent, or up to 50 percent in some cases.

Can an OCI holder take a loan in India? ›

An NRI or OCI can also apply for a Home Loan in India for the purchase of a residential property. Like Resident Indians, they too should fulfil the eligibility requirements and complete the loan application formalities, like KYC document submission, to get their Home Loan approved.

How many residential properties is an NRI allowed to purchase in India? ›

NRIs can own any number of properties in India as he/she wants to.

What happens if an NRI buys a property in India does he need to pay property tax? ›

If an NRI procures an immovable property from a resident, TDS must be deducted at a rate of 1% if the sale consideration exceeds ₹50 lakh. On the other hand, when acquiring property from a non-resident and if long-term capital gains (LTCG) are applicable, the TDS deduction rate should be 20%.

Can I borrow against property I own? ›

To obtain a loan on a home you own outright, you can approach a financial institution or lender and apply for a home equity loan, HELOC, or cash-out refinance. The process typically involves an assessment of your property's value, a review of your credit history, and verification of your income sources.

What is it called when you borrow against your own money? ›

Basically, a passbook loan is a loan you take out against yourself. You are borrowing from your bank or credit union using your savings account balance as collateral.

What is the kind of loan given or taken using some property as collateral called? ›

Collateral is any property or asset of value that is put up against a loan as security. Loans involving collaterals are called secure loans because they minimize the risk involved in lending. That is why most financial institutions provide you with competitive repayment terms on secured loans.

What is loan forgiveness? ›

That means you won't have to pay back some or all of your loan(s). The terms “forgiveness,” “cancellation,” and “discharge” mean essentially the same thing.

What is the monthly payment on a $50,000 home equity loan? ›

Average 30-year home equity monthly payments
Loan amountMonthly payment
$25,000$168.43
$50,000$328.46
$100,000$656.93
$150,000$985.39

How do I close a loan against my property? ›

After settling your housing loan, you need to:
  1. Collect all original documents from the lender. ...
  2. Obtain a 'No Dues' Certificate (NDC) from the lender. ...
  3. Ensure removal of lien on the property. ...
  4. Obtain the updated Non Encumbrance Certificate. ...
  5. Ensure that your credit records are updated. ...
  6. Upshot.

What is the best way to borrow money against your house? ›

A cash-out refinance replaces your existing mortgage with a new loan (and interest rate) for a larger amount. You'll then repay your current loan with the proceeds from the cash-out refinance and keep the difference in cash for other uses. Most of the best mortgage refinance lenders allow cash-out refinancing.

What is the lowest interest rate for a property loan? ›

The lowest interest rate for a house in 2024 ranges between 8.35% and 8.50%, offered by banks such as Union Bank of India, Bank of Maharashtra, Bank of Baroda, Canara Bank and State Bank of India.

Can I get a bank loan using my house as collateral? ›

For example, you can provide a retirement account, vehicle or real estate as collateral. Doing so reduces the risk for the lender because they can seize the asset if you default on the loan. Collateral loans come in many forms. For example, mortgages are collateral loans, and the real estate is collateral on the loan.

What is a loan by the bank usually secured by the home property? ›

A secured loan is a loan backed by collateral. The most common types of secured loans are mortgages and car loans, and in the case of these loans, the collateral is your home or car.

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