Home Loans in Delhi - NCR

A Home Loan is a secured loan where the bank keeps possession of your home papers till the repayment is done. Let’s have a glance at some features of home loan in Delhi NCR:

• Home loans in Delhi are usually offered at a minimum interest rate of 8.50% p.a.
• Tenures may be up to 30 years.
• LTV ratio: 80% - 90% of the cost of property.
• Facilities like top-ups, overdrafts, and home loan balance transfers to existing home loan borrowers are easily available.
• Selected existing bank customers are offered pre-approved instant home loans.
• No pre-payment charges.
• Pradhan Mantri Awas Yojna for economically weaker sections, middle-income groups and low-income groups with interest subsidy of up to Rs 2.76 lakh

Home loans in Delhi and neighbouring areas like Noida, Gurugram, and Faridabad start from 8.50% and can go on upto 14%

There are more than 30 banks and financial institutions that can give you the best home loans in Delhi-NCR. Here we are mentioning some of those lenders that give lucrative deals on your home loans.

HDFC Home Loans in Delhi - NCR

HDFC or HDFC Limited caters to home loans in Delhi under different loan slabs based on the requirement amount of the home loan. There are different home loan interest rates for women that can benefit you greatly if one co-applicant of your home loan is a woman.

HDFC Home Loan interest rate ranges from 8.75% - 9.65% p.a.

LIC Housing Finance Limited Home Loan in Delhi - NCR

LIC Housing Finance gives 7 different types of home loans in Delhi or any other place. The starting home loan interest rate starts from 8.50% for people having a CIBIL score of more than 800 and are salaried. For people whose CIBIL score is less than 600 and who are self-employed, for them, the home loan interest rate in Delhi is around 8.55% - 10.50%.

PNB Housing Finance Limited Home Loan in Delhi - NCR

PNB HFL starts giving home loans in Delhi from Rs 10 lakh onwards and takes approximately 10 days to process. The minimum home loan rate of interest in Delhi NCR is 8.50% for salaried and 8.90% - 11.25% for self-employed professionals whose CIBIL or credit score is more than 800.

SBI Home Loan in Delhi - NCR

State Bank of India is one of the premier banks of India so to get a home loan in Delhi is very easy with SBI. The cheapest SBI home loan interest rate is 8.50% - 10.05% and the maximum tenure for which a home loan can be availed is 30 yrs. The loan disbursement process can take upto 3 weeks in SBI home loan Delhi-NCR.

Indiabulls Home Loan in Delhi - NCR

The final Indiabulls home loan rate of Interest depends upon Profile, Loan amount, tenor, property type, and other risk parameters. The lowest home loan rate in Delhi is 8.75% for 30 years. This can change depending on the creditworthiness of the applicant.

There are more than 10 types of home loans offered in Delhi, Noida, Gurugram, and Faridabad also known as Delhi-NCR. Have a look below to understand what different types of home loans you can take from banks and other financial institutions(FIs) or NBFCs(non-banking financial institutions):

To be eligible for a home loan in Delhi there are some requirements. Let’s see what are those requirements that will allow you to have your dream home in Delhi-NCR:

• Applicant’s nationality: Indian Resident, PIO, NRI
• Age- 21 years up to 70 years at the time of loan maturity
• Work experience: At least 3 years of salaried and self-employed
• Applicant’s job profile: Salaried (government and corporate professionals)/Self-Employed Non-Professionals (contractor, trader, commission agent)/Self-Employed Professionals (Doctors, CS, lawyers, CA, architect, consultant, engineer
• CIBIL/Credit score should be 750 and above for increased chances of availing of home loan at lower interest rates

Below is the list of documents needed to get a home loan in Delhi-NCR:

Home Loan Documents For Salaried Loan Applicants

• Proof of Identity- PAN Card/Driving License/ Voter ID/Passport/Aadhar Card.
• Proof of address- Passport/Utility bill/Aadhar card
• Proof of Income- Latest salary slip/ ITR/Form-16
• Bank Statement- Last 3 months' bank statement/ last 6 months' bank passbook.
• Property Documents- Agreement sale copy, Certificate of possession, Land tax receipt, the detailed cost of construction, Letter of allotment, Original NOC.

Additional Home Loan Documents for Self-Employed Applicants

• Business Profile
• Recent Form 26AS
• Income Proof: ITR with income computation for the past 3 years
• Memorandum and Articles of Association of the company
• Balance sheet and profit & loss account statement for last 3 years
• Current account statement of business entity
• Savings account statement of the individual for the past 6 months

Due to inflation, the prices of flats are increasing day by day. In such a situation some citizens cannot afford to buy flats. To overcome this situation the Delhi Development Authority has launched a DDA Housing Scheme 2024. Under this scheme, flats are offered at low prices to all sections of society. These flats are offered based on a draw. All the sections of society like the general category, backward class, windows, SC, ST, etc are covered under this scheme.

How to Book Flat Online Under DDA Housing Scheme 2024

The application procedure for Govt scheme:

• Click here to see the official page. http://www.eservices.dda.org.in or http://www.dda.gov.in
• Select “Login for Applicant” on the homepage.
• A login form will appear.
• If you are already a member of the Awas Yojana or the Bhoomi Yojana, you may log in by one of two methods. Use the related user ID and password after choosing any one of them. then click the login button.
• After checking in, choose the link for first come, first served apartments.
• Pick the apartment
• It will be blocked for 30 minutes, during which time online payments may be made.
• If payment is not made by the deadline, the apartment will be put up for auction.
• Interested parties may submit an online application and the required down payment for the apartment.
• Following that, the DDA will send the petitioner a demand notice. The allottee will have three months to pay the whole payment under this.
• DDA will issue a possession letter upon complete payment.

5623 Flats Available Under DDA Housing Scheme 2024

The Delhi Development Authority has launched a special DDA Housing Scheme. Through this housing scheme, 5623 flats under different categories are offered at various locations which include Dwarka, Rohini, Jasola, Vasant Kunj, Paschim Vihar, and Narela. Through this scheme 2024, high-income group 3 BHK flats are available in Vasant Kunj, Jasola, Paschim Vihar, and Dwarka. 2 BHK flats are available in Dwarka, Narela, and Rohini.

*Data sourced from DDA official website