Why Chandigarh Is A Fancied Destination For Homebuyers

1
This will go a long way in helping you to get the
best deal that will make your home-owning dream a
reality. Before applying for a home loan in
Chandigarh
2
Why Chandigarh Is A Fancied Destination For
Homebuyers
If you want to own your own home in Chandigarh,
you need to understand the dynamics of real
estate in the city. This will go a long way in
helping you to get the best deal that will make
your home-owning dream a reality. Before applying
for a home loan in Chandigarh, it is very
essential for you to know why a lot of people are
trooping to the city for a mortgage.
Chandigarh is the capital city of two Indian
states of Punjab and Haryana. It is well-known
for great architectural landmarks and the first
city in India to get a master plan after
independence. The real estate is currently
thriving in Chandigarh, thanks to both national
and international real estate developers.
Chandigarh is the perfect place for homeowners
because it easily connects with other regions of
the country and abroad. You can easily connect to
other major cities in India from Chandigarhs
Airport. The rate at which property appreciates
in this city is interesting and this is partly
due to the extensive railway network of the city.
Chandigarhs Railway Network remains a
subdivision of the Northern Railway zone of the
Indian Railway network. That is why the city can
be easily reached from every major city in India.
3
A research was carried out by the Ministry of
Urban Development on Traffic and Transportation
Policies and Strategies in Urban Areas in India.
The outcome of the research revealed that
Chandigarh has a higher public transport
accessibility index than some major Indian cities
like Hyderabad, Bangalore, Delhi, Chennai and
Kolkata.  In addition, the National Highway 21
passes through the Chandigarh, starting from the
Punjab Mohali town border and stretching to
Haryana border. In sectors 17 and 43 of the city,
the Inter-State Bus Terminals make the bus
service of the city to be very effective.  
Whats more, a lot of developmental projects are
springing up in the city day in day out. Areas
like Dera Bassi, Mullanpur and Mohali are
currently enjoying rapid infrastructural
developments. These are where you will find the
best residential flats in the city. In fact,
ready-to-move apartments are available for
interested homeowners. The success story of
Chandigarh has attracted so many developers who
have invested so much in the city. This has led
to the realization of the master plan of the city
with exquisite amenities such as hotels, schools,
shopping malls, sporting facilities, hospitals,
gyms and so on. You can get a bank-approved home
loan in Chandigarh from a reputable developer
with a convenient payment plan.
4
Should You Take a Top-Up Home Loan?
A home loan in Chandigarh is very essential in
helping you to become a proud homeowner in the
city. However, if you are currently repaying a
loan and you realize that your home needs an
extension or improvement, a top-up loan may be
inevitable for you. Before taking a decision on
this vital issue, you need to consider the two
major options available to you - taking a new
loan or going for a top-up.  
There are two sides to every coin, hence, topping
up your existing loan or taking a new one have
their advantages and disadvantages. You need to
consider the interest rates of the two options as
well as the paperwork involved. Ideally, you will
have to go for an option that meets your
expectations. Also, you will need to consider the
time that each option will materialize. Usually,
a top-up loan should be faster since your
creditworthiness is already known to your current
creditor.   A new loan will come with a whole lot
of issues including application, evaluation,
bargaining and execution. It can be in the form
of a personal loan, gold loan, loan against
property, just to mention but few. The good thing
about a new loan is that you can negotiate a new
plan which will be in conformity with current
market rates.
5
On the other hand, a top-up loan requires less
documentation and the processing time is usually
shorter. The basic principle of top-up is that
you will be getting the facility based on your
new eligibility. For example, if you take a loan
of Rs 80 lakhs and you have repaid Rs 20 lakhs.
Lets assume that your salary has increased
during this period which has boosted your
repayment capacity.   Going by the example above,
you can be eligible for a top-up loan of at least
Rs 20 lakhs. This can then be used to improve or
upgrade your property.  There two types of top-up
loans (top-up home loan and top-up personal loan)
but this piece focuses on the former. Also, it is
very important for you to note that a top-up loan
carries a higher interest rate when compared to
your original loan facility.   Before taking a
top-up home loan in Chandigarh, it is very
essential for you to consider these factors. This
will go a long way in ensuring that you get the
best deal that will give you the most
satisfactory result.
6
Contact Us
Address -  Plot No- 415, Udyog Vihar III, Sector
20, Gurugram, Haryana 122001 Contact us
09871133019 Website Address- https//www.retaillo
ans.in/blog/get-home-loan-in-chandigarh
7
(No Transcript)