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.
Govt launches amnesty scheme for stamp-duty evaders
Govt launches amnesty scheme for stamp-duty evadersApnaloan.com Research Bureau
13 Jun 2008
The Government of Maharastra launched an amnesty schemes for those buyers People who evaded stamp duty on their property purchase agreements.
These buyers can regularize their transactions by paying a nominal penalty in an amnesty scheme.
The state's revenue department has said that under the Stamp Duty Amnesty Scheme, flat owners who did not pay their stamp duty on time will have to pay a penalty of Rs 500 for dues up to Rs 25,000 and Rs 1,000 for a stamp duty over Rs 25,000.
Otherwise, the residents would have had to pay a hefty penalty of 2 per cent on the total duty amount per month from the date of purchasing the flat, with the maximum limit being 200 per cent.
The amnesty scheme is applicable to residential properties and will benefit housing societies that want to go for re-development of their buildings.
Buyers usually evade stamp-duty in case of buying flats in societies which face trouble while obtaining conveyance as a few members of the society choose to avoid paying stamp duty on their flats. Around 50,000 cases could be settled under the scheme which include pending and disputed cases and hope to recover Rs 500 crore from the amnesty scheme.
Stamp duty is the second highest source of revenue for the Maharashtra state government. A whopping sum of Rs 6500 crore was collected as stamp duty from 1.5 lakh registrations in 2007.
A whopping sum of Rs 6500 crore was collected as stamp duty from 1.5 lakh registrations in 2007. Know more about home loans on www.apnaloan.com