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Realty firms on hiring spree againDLF profit crumbles 77%Realty demand up 15% in Q2‘Property rates to fall 25% in 12-15 months’

: interest?

My personal recommendation would be that you should go in for a floating rate loan. Given the current market condition, the interest rates would remain flat or increase by a couple of percentage points over the next couple of years, but if the central bank wants to keep the economy on a high growth path, it needs to bring down lending rates for priority sectors like housing. So I feel that when the central bank does look to make such a correction, you will benefit with a lower interest rate if you have taken a floating rate loan.

I have a property in Gurgaon and now I want to build a house on it and for the construction I want to take a loan of Rs 5,00,000. What type of loan will fulfill my requirements? Will it be considered a home loan or property loan?

The loan you seek is a construction loan. It will be classified as a home loan. I am not sure what you mean by a property loan. You will have to submit an architect's construction estimate along with property papers to the bank. The bank's values and credit team will then scrutinise the documents, visit the property and process the loan.