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 pre-selling properties as finance gets costly
Builders pre-selling properties as finance gets costlyApnaloan.com Research Bureau
25 Aug 2007
Real-estate developers are pre-selling their properties to avail of cheaper finance. Peninsula Land sold 5.75 lakh sq ft mill land Dawn Mills for Rs 1,075 crore, to Alok Industries on August 17, according to media reports. Peninsula will build commercial buildings on this land as per Alok Industries' specification.
Orbit Corporation sold its Kalina property for Rs 800 crore to JSW Steel and will construct offices on that land for the steel maker.
In pre-selling, the developer receives upfront payment. This money is used in the construction activity and developers do not need to approach banks for project loans. In many cases, the seller retains a part of the property. As the property value appreciates, the developer constructs on the retained property and enjoys the upside.
HDIL, considered pioneers in pre-selling, pre-sold Bandra-Kurla-Complex, 1.7 million sq ft for over Rs 2,000 crore, the biggest deal by value in the country. HDIL retained 3 lakh sq ft in that property.
Industry experts say that the trend of pre-selling is expected to gain momentum, as it takes care of the hassles such as finding individual buyers and promoting one's office space.
Market sources suggest that upcoming commercial and retail projects may see such deals further. These projects include Indiabulls property in Lower Parel and DLF Mall in Lower Parel and Bombay Dyeing property at Worli.