No matter where you go, India will always be home. At DHFL we understand this. This is why we bring NRIs the opportunity of owning their dream home in India. Being based out of India, buying a home in India can be quite a challenge – starting from searching and identifying the property you desire, ensuring builder credibility, legal processes, property documents and more. But with DHFL, it needn’t be so. Our NRI Home Loans present you with the most practical and simplified home loan solutions you need. We handhold you through all aspects of property purchase – from property search, legal and technical issues, to documentation and more – for a range of requirements.
Purpose:
Our NRI Home Loans can be availed for:
- To purchase a new home
- To purchase a ready built house on resale
- To construct your own house
- To extend your house
- To renovate your house
- To purchase a plot of land in your preferred city or town
- To purchase a plot of land in your preferred city or town and construct your house on it
Are You Eligible?
- Applicant should have NRI / PIO status as per RBI Guidelines.
- Applicant should be working abroad with an Indian Passport and a Valid Visa.
- Minimum 1 year of completed overseas service.
Amount of Loan:
At DHFL, we understand every customer is unique with needs that are different. Hence we have loans starting from ` 500,000 to a maximum of 85% of the agreement value or total cost (including stamp duty & registration charges) of the flat/house or plot that you wish to construct or purchase. However, the actual loan amount that that you’re eligible for is determined by taking into account various factors such as:
- Repayment capacity
- Age
- Educational qualifications
- Stability and continuity of income
- Number of dependents
- Co-applicant’s income
- Assets and liabilities, saving habits, and more
To calculate your eligibility please use our Eligibility Calculator.
Work out your EMI using our EMI Calculator.
Maximum Tenure of Loan: Up to 15 years
DHFL understands the value of your hard earned money. With a tenure of 15 years, you can reduce the EMI amount, so that your outgoings every month do not come in the way of your lifestyle and living standards. The term however does not extend beyond the retirement age or 60 years whichever is earlier
Interest Rate:
DHFL offers one of the most competitive rates in the market. The Interest rate applicable is based on the DHFL’s Retail Prime Lending Rate (RPLR) which fluctuates from time to time based on the money market conditions.
Processing Fees:
This is charged as the fee towards processing your home loan application. In case of salaried individuals (SAL) it is 1% of the loan amount, whereas for Self – employed Professionals / Non Professionals (SEP / SENP) it is charged at 1.5% of the loan amount, plus Service Tax and Cess as applicable.
Easy Repayments:
You have 2 options for repayment of the loan based on the EMIs payable:
a) Through ECS (Electronic Clearing Service) based on standing instructions to your bank
b) PDCs (Post Dated Cheques) drawn on your Savings/Salary account
Legal and Technical Scrutiny
For smoother processing of your home loan, DHFL takes care of;
- Studying title deed, link documents and Encumbrance certificate (EC)
- Scrutinizing EC to ensure all title/link documents pertaining to the property are obtained
- Verifying documents to check that chain of seller(s) and buyer(s) is properly maintained
- Scrutinizing title/link documents to ensure that buyer has absolute and marketable title
- Ensuring that plot does not fall in areas adversely notified by Government and also that the property is not situated in lands notified as Government lands
- If the property is situated in recently developed, areas appropriate lay out approvals by necessary authorities are provided
- Whether actual construction is done according to the approved plan etc..
Tax Benefits:
As per Indian IT Rules, the current applicable exemption u/s 24 is ` 1.5 lacs for the interest amount paid in a financial year and up to ` 1 lac for the Principal amount repaid in the same year. This tax benefit is applicable only if the applicant files Income Tax Returns in India.
So don’t just dream about a home in India, buy it. Fill in the Enquiry Form alongside . Our Representative will get in touch with you to help you through the entire loan process.
Currently DHFL is present in London, UK and Dubai, UAE to cater to its NRI Customers,
for NRI Customers in UK please visit www.dhfluk.com for more details
for Middle East NRI’s please visit http://dubai.dhfl.com for more details.
