Franking and Stamping – What’s The Difference?

In any type of home purchase, whether with your own money or through a home loan, you have to pay certain fees and taxes. For example, loan processing fees or the cost of a technical appraisal of the property by the lender. Other examples of such fees and taxes related to home purchase also include franking or stamping. Are they both the same things? No, not at all. That is just...

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What is CIBIL Score & How Does it work?

‘CIBIL Score’ or credit score becomes extremely important when assessing home loan eligibility or taking any other form of a loan. Applicants must check their score and figure out if it is above a certain number to understand their eligibility, the likely ROI they will be charged and plan their loan accordingly. To the unaware, a CIBIL score might sound like marks obtained in an important professional examination. But that...

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What are the Different Types of Home Loans in India?

At some point in their lives, everyone wishes to purchase a home. Because owning a home is regarded as a sign of a settled life, everyone strives to obtain one. With rising real estate prices, not everyone can afford to buy a home. This is why they obtain a Home Loan in order to realise their dreams. Financial institutions provide a variety of Home Loans to meet the needs of different applicants. For example, one person may require a loan to purchase a home, while another may require a loan to renovate it. As a result, financial institutions have provisions for various types...

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Why Take a Loan Against Property for Expanding Your Business This Diwali?

Thinking of scaling your business? Well there’s no better time than Diwali is there?  All businesses need regular cash flow to fund their daily operations and upscale their processes as well. While you are absolutely right to depend on recurring revenue for your business to run smoothly, procuring new commercial spaces, buying official real estate, setting up a new factory, or simply growing operations, always require significant capital investment.  This...

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5 Reasons to Invest in a Commercial Property this Diwali

Commercial Property this Diwali

Commercial real estate is a rather reliable investment option, regardless of market cycles. The value of property in commercial areas by & large increases over time and so does the rent. A lot of investors see it as a long-term investment that generates regular cash flow through rentals and may fetch you higher value when you sell it off. With commercial property loan interest rates being lower than ever and...

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Everything You Need to Know About Property Tax and How is it Calculated

Property tax is the annual sum that property owners are required to pay to state municipal authorities. This amount is used to maintain civic amenities such as roads, drainage systems, parks, and street lights in the surrounding area. Property taxes are typically levied on all types of real estate buildings, with the exception of central government properties, vacant properties, and vacant plots without any building attached. Types of Property Real estate...

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4 Reasons for Refinance Your Home Loan

Refinance Home Loan

Sometimes, after availing a home loan, borrowers feel their lenders are levying higher charges, such as higher-interest rates, prepayment penalties, poor customer service etc. In such cases, refinancing their home loan is a good idea.  A home loan balance transfer or refinancing a home loan is an excellent way to reduce home loan liabilities. You may also think about refinancing your loan if a lender offers lower interest rates or...

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Is Prepayment of Your Home Loan a Good Idea?

Nobody wants to remain in debt, given a chance we all like to prepay our debts ASAP. Prepaying a home loan, however, differs significantly from prepaying other loans. A home loan has a variety of benefits that may make prepayment unappealing. You may save a few EMIs by prepayment, but you risk losing out on related tax benefits, investment benefits etc. and inevitably incur prepayment fees for your home loan....

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This 75th Independence Day, Get Freedom from Paying Rent

The term “freedom” may have various meanings for different people. Freedom is for some people the capacity to travel anywhere at any time. For others, it can be financial independence. Individual house ownership, in our opinion at PNB Housing, is one of the most significant indicators of such independence. An independently owned home means freedom from the whims of landlords and steadily rising rent. A property is the most valuable financial asset and, if owned, it can add tons of financial security especially for...

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How to Get Home Loan Without ITR or Income Proof?

The process of sanctioning a Home Loan is thorough and detailed. It essentially involves scrutiny of an applicant’s eligibility. That includes evaluating all the essential Home Loan documents required – right from KYC documents to income proof, income tax returns, credit reports and property documents. Since all these documents help the financial institutions verify an applicant’s creditworthiness,  they evaluate how much of a risk it is to sanction a Home Loan...

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