Know about various kinds of homeloan in India

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• Find out with us the various kinds of home loans
  in India!

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Home loans have become a trend in the property
buying arena owing to the skyrocketing costs of
residential housings and apartments in India.
Most people zero upon this interesting option in
order to buy or transform their residential
property, as this happens to be the easiest
manner to buy a house. Once you have made up your
mind to buy a property in the nearby future, you
can apply for a loan even before settling on the
property.
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In this scenario, the only aspect that matters is
the property must be pre-approved by the bank.
Since a decade, the demand for home loans has
drastically increased in the nation with myriad
of people applying for home loans in order to
build their dream house.
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Thus it wont be wrong to say that home loans
happen to be a trendy way of buying a house today
and every day there are countless people applying
for home loans and the lenders are willingly
offering loans for buying houses as well as other
related purposes. Today there are several of
banks offering home loan facilities that
accommodate diverse requirements of the various
customers.
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Here are some of the popular types of home loans.
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Land Purchase Loans This kind of loan is
provided to purchase a plot of land on which the
applicant plans to build a home. In India, most
banks extend up to 85 percent of the price of the
land and they can be availed for residential and
investment purposes, with banks like ICICI bank
and Axis Bank offering the facility.
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Home Construction Loans Such loans are of great
help for those keen on getting a house
constructed the way they desire instead of buying
an already constructed one. In this kind of loan,
the application and approval procedure is
slightly different. Canara Bank, UCO Bank, Bank
of Baroda and many other present these loans.
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Home Expansion/Extension Loans These loans come
in handy when anyone is keen on expanding their
present house and the activities include
modification in terms of constructing a new room,
another storey, etc. Banks like HDFC Bank, Bank
of Baroda and others offer home extension loans.
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NRI Home Loans This kind of loan facility is
for the non-resident Indians keen on buying
residential property in India. Even though the
formalities are same as for the residents, the
paperwork is quite an intricate task. NRI home
loan facility is offered by mostly all public and
private sector banks.
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Harsh Macro Developers Ltd. Harsh Tower, Plot
No.8, Near Gopalpura By-Pass, Triveni Nagar
Mod Jaipur- 302019, Rajasthan, India
www.harshmacro.com
91 141 5168168
/HarshMacro