For a second home loan the amount granted to you will depend on your monthly income along with assessment of your other financial obligations.
Joint applicant’s name should be on property deed to avail of tax benefit
Budget 2018: Housing finance is perceived to be the third most impactful industry contributing significantly to the economy and with tremendous future potential. It is the second-largest loan portfolio for NBFCs and an important employment generating sector, accounting for 5-6% of India’s GDP and capital formation.
Affordable housing: How Modi government’s initiatives like Credit Linked Subsidy Scheme, RERA will help 1st time home buyers
The government’s initiatives like Credit Linked Subsidy Scheme and Rera will help first-time home buyers and create demand for affordable housing.
Owning a house is one of the most important dreams one has and a home loan helps people realise it.
The Real Estate (Regulation & Development) Act (RERA) which came into effect on May 1, 2017 is a significant initiative that reflects the government’s commitment to bring greater momentum to India’s real estate industry.
WITH low interest rates likely to continue for some time, people need to understand various aspects of their home loans.
India’s housing finance sector has remained relatively underpenetrated compared to its peers as evident by its low mortgage-to-GDP ratio (9% as on March 2015), compared to its regional peers (17% for Thailand, 20% for China, 34% of Malaysia).
A second home loan may seem daunting, but if implemented correctly, can lead to a great deal of savings on income tax
In the backdrop of Housing for All by 2022, there are several moves that the Finance Minister, Arun Jaitley can consider for the housing sector.
- Budget passed in Lok Sabha without discussion; Finance bill, Appropriation bill passed by voice vote
- Assam Budget proposes new schemes for women, education sector
- Assam Finance Minister to present first e-Budget tomorrow
- No fresh tax in Rs 41,440 cr Himachal budget for 2018-19
- Andhra Pradesh Budget 2018: YSR Congress to boycott session starting tomorrow
- Budget 2018: Opposition set to corner government in Parliament on financial scams
- Budget 2018: UPA’s and NDA’s starkly differing priorities
- Why universities need better budgetary support
- Budget 2018: Madhya Pradesh Assembly’s financial session to begin tomorrow