Chennai has seen an exponential growth in real estate prices especially in its three highly sought-after zones. The land rates have doubled and tripled in some of these places. The cities growth rate has also been substantial leading to such a situation. It has now become a little difficult task to buy home in Chennai and it is also costlier than earlier. In such a scenario availing a Home Loan is necessary in case you wanted to purchase a home in the city.
Many Banks and NBFCs provide Home Loans in Chennai. You may get up to 90% of the down payment to procure your dream house. They provide these loans at low interest rates. The banks are interested in the flow of funds by applying right kind of services.
Home Loans are not so easy to get because banks will take all sort of measures to ensure that they can trust your financial standing. At the end of the day, they are spending lakhs of Rupees on their customers. You will also have to take care of the down payment as banks only provide around 80% of total value of the property.
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