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...

Full Article

What is a Loan Against Property? Important Things you Should Know

Things to Remember Before Taking a Loan Against Property

A loan against property (LAP) is a secured loan that banks, housing finance companies and NBFCs provide against residential or commercial property. These loans are usually offered at a lower interest rate as compared to a personal loan or business loan and are disbursed at a reasonable time. Anyone with a pre-owned property can avail such loans, whether they are salaried or self-employed in a business or professional setup. The...

Full Article

How to Secure a Loan against Property

How to Secure a Loan against Property

As a form of secured loan, this is available on more benign terms since the property papers are kept as collateral by the lender. Loan against Property (LAP) is a secured form of loan borrowed from a loan provider. As the name itself reveals, it is a loan given against property, which should be physical and immovable (residential/ commercial). A loan provider or lender can be a bank, NBFC or...

Full Article

Loan against Property vs Personal Loan – Which One is Better?

Loan against Property vs Personal Loan - Which One is Better?

Necessity of additional funds over and above one’s income and savings is a common phenomenon, especially with rising requirements in current scenario. Although there are various ways of sourcing these funds, one much sought after way is personal loan. The quick sanctions and even faster disbursals makes it a lucrative way of availing funds. But, this is not the only loan of this kind. Loan Against Property (LAP) is a...

Full Article