Benefits of Applying Online
When Banks Compete, you win.
Apply for a Home Loan at ApnaPaisa and we will match your requirements with the best offers from our network of over 400 service providers. We will get a maximum of five providers to compete for your business. WHEN BANKS COMPETE YOU WIN. You can then decide which home loan is best for you based on:
- Lowest Interest Rate
- Lowest EMI
- No Pre-payment charges
- Lowest Processing Fees
- Maximum Eligible Loan Amount
- Mandatory Documents Required
- Lowest Processing Fees
Or any other factor that is important to you.
Negotiating Tips
1) If you have a good credit record and your income is sufficient to justify the loan you can negotiate on interest rates. You can also try and get Processing fees or legal or valuation fees reduced or completely waived.
2) If you go for a floating rate loan then pre-payment charges are not payable.
3) When interest rates are high and are expected to go down you should go in for a floating rate loan as it makes no sense to lock into high fixed rates or the so called Dual rate loans where rates remain fixed for a couple of years before shifting to regular floating rate loans. Please review this decision at least once every 6 months
4) Take term insurance and critical illness and accidental disability policy for the full loan amount to make sure you or your loved ones don't have to worry about loan repayment should you die or are disabled due to a critical illness or accident. You cannot be forced to buy this policy from the insurance company chosen by the lender - you should choose your own insurer.
Builders in Maharashtra must set aside 20% quota for low income groups
All new building projects in the country will now have to earmark at least 10 per cent of its housing space for the Low Income Group (LIG) and another 10 per cent for the Middle Income Group (MIG).Apnaloan.com Research Bureau
10 Aug 2007
All new building projects in Maharashtra will now
have to earmark at least 10 per cent of its housing space for the Low Income
Group (LIG) and another 10 per cent for the Middle Income Group (MIG). The
Maharashtra state government will soon make this mandatory, be it a private or
public project, said a policy tabled in the legislative assembly on July 23,
2007. In return, developers will get incentives including additional floor space
index (FSI) and tax benefits.
The policy defines LIG units as flats spread
across a minimum of 30 sq metres (323 sq ft) and MIG as those with 50 sq m (538
sq ft). Based on directions from the Centre, several states are working on
similar measures to boost affordable housing stock. For example, the Delhi
Development Authority in its 2020 Master Plan has reserved 50 per cent of all
new layouts for LIG and MIG tenements.
A few builders and activists have raised doubts
about the viability of the scheme in Maharashtra saying that the rich can do
illegal binami bookings and escape detection.
The FSI incentives have not been decided yet, but
those constructing more than the minimum stipulated 20 per cent stocks of
LIG/MIG flats will be given even higher FSI.