Key Requirements for a Home Loan:

1. Age: Salaried applicants: 22 to 55 years: Self-employed applicants: 22 to 65 years
2. Stable Active Income: Salaried, self-employed, or rental income. Pension income is typically not considered for home loans.
3. Salaried Applicants Job Continuty: Typically 2 years; exceptions based on education and employer reputation
4. Self-Employed Applicants Business Continuity: Usually 3 years; exceptions if previously employed in the same field
5. Rental Income Basis: Consistent occupancy with regular rent payments
6. Co-Applicants: Income can be combined for blood relatives or husband-wife
7. Purchase Under Construction Property Without Approved Map: Loan disbursement after property completion
8. Legal Documentation: Clear and traceable property ownership
9. Partnership Purchase Properties: Loans are not granted for properties purchased in partnership / non-blood-relatives.

Yes, you can apply for a home loan if you're purchasing the entire property, which includes both residential and commercial sections.

For example, if it has a shop on the ground floor and residential spaces on the upper floors.

Major banks and NBFCs offer home loans for diverse properties across Gurugram. Examples include HDFC Bank, Axis Bank, SBI, PNB, ICICI Bank, Kotak Bank, Indiabulls Housing Finance, Tata Capital Housing Finance, and Bajaj Housing Finance, among others.

Share your details, and we'll match you with the perfect lender for your profile and needs.

Housing loans are available for various types of properties in different locations of Gurgaon:

• Residential plots, under resale and direct allotment
• Ready-to-move houses or villas
• Ready to move builder flats under resale or direct allotment
• Home construction loans, for new house construction, renovation, and expansion
• Under-construction projects approved by specific banks
• Home loans in rural areas with 'Khatoni' to 'Transfer deed'
• Home loans in 'Village LAL Dora' or 'Gram Panchayat' with Lal Dora certificates to 'Transfer deed'

Before proceeding to create a title deed for a home loan in rural areas without one, consult with us. We offer expert guidance tailored to your specific situation.

LTV varies based on property type:

• Plot purchase: 65-80%
• Ready-to-move house / flat: 75-90%
• Construction loans: 75-90%

Many banks and NBFC offer fitting and fixture loans in cases of property registration at lower than market price. Under this, up to 90% of property registration price is issued to the seller, with the balance provided to the buyer under a 'fitting and fixture loan.

Note that fitting and fixture loans are only available for ready-to-move-in houses / flats

Yes. If you used your own funds to buy a house or builder flat, you can refinance it with a home loan within 12 months of the purchase. Housing loan refinancing is also available for money spent on construction of house within last 12 months of application.

Home loan refinance is not available for the amount spent on plot purchase.

With a home loan transfer, you get the option to either lower your EMI or reduce your loan duration. In Gurugram, Joy Loan has partnered with top banks and NBFCs to provide lower interest rates on your existing home loan. We offer the industry's best loan transfer option and provide comprehensive support for transferring your home loan from one bank to another.

With us, you'll secure unbeatable lower rates that our competitors cannot match.

Along with balance transfer, you can opt for a cost-effective top-up loan. You can use top-up loan to consolidate high-interest debts or for personal needs.

You can get a home loan for an under-construction project, subject to project approval from banks or NBFCs. These loans are typically disbursed based on the construction progress.

Before making a booking, it's advisable to confirm with the builder about the available banks in their project.

• Houses or flats without approved maps, up to the 3rd floor
• Construction of house without map approval
• Extra coverage issues
• Double units, triple units, or multiple units/flats on the same floor
• Subdivided / part of properties
• Amalgamated or 'Joda' properties
• Houses made of stone slabs or 'Kadi Pathar' roof
• Properties on narrow roads / back portion
• Basement / lower ground floor properties
• Bacha Flat or stilt floor flats

• From GPA to Sale Deed
• Documents missing in the property chain
• Current title deed missing in the property chain
• Single sale deed (with no prior property chain)–with a minimum 3-year-old title deed
• From Khatoni/Fard to Transfer Deed / Gift Deed
• From Lal Dora certificate to Transfer Deed / Gift Deed

Yes, but the seller's loan must have a clear track record in his/her loan.

The seller will also need to act as a guarantor until the registration is done in the buyer's name. This is because your bank pays the seller's bank before property registration. If, for any reason, the seller doesn't complete the transaction after receiving payment, they too become responsible for repaying this new loan.

Home Loan tenures range from 5 to 30 years, based on the borrower's age and employment type.

For salaried individuals, the maximum age at loan maturity is 60, and for self-employed borrowers, it's 70. Small deviations are possible, subject to approval.

You can apply for a home loan pre-approval based on your income. Yet, it's not a good idea to do this if you're not sure about the kind of property you will finalise or if you're just starting your property search.

For example, if you get pre-approval from ICICI Bank and then finalise a property  without municipal approved map. In this scenario, ICICI Bank won't give you a loan for that property.

So, it's best to talk to us early so we can assess your eligibility based on your income and financial situation. Only go for pre-approval when you're close to deciding on a property or if you have specific financial concerns.

We offer the best home loan rates in Gurugram, from the current lowest interest rates from top banks and NBFCs. We tailor our solutions to your profile and property, with comprehensive support from start to finish.

With partnerships with multiple banks and NBFCs, we provide unbeatable rates that our competitors can't match. Don't miss out on these benefits; apply your home loan now!

No, you can transfer or prepay your home loan at any time.

You can make as many payments as you want.

Part payments instantly reduce your loan balance. Interest is then charged on the remaining amount from the next day.

Yes, there is no foreclosure fee for home loans with floating interest rates. However, for loans with fixed interest rates, financial institutions may charge a fee.

• Builder projects on Dwarka Expressway
• HUDA
• Haryana Housing Board Colony/Sectors
• MCG allotted sites
• MCG approved private colonies
• Village Lal Dora in rural and urban areas
• Unapproved colonies with a sale deed

The Gurgaon master plan has 115 sectors. Top financial institutions provide home loans in these sectors.

Some sectors are developed by government entities such as HUDA, MCG, Haryana Housing Board, and HSIDC, while private developers have developed the remaining sectors with the necessary approvals from district and town planners.

There are many reputed builders in Gurugram. Home loan on these builder projects is available under direct allotments, builder transfer cases, or resale.

Subject to project under writing, many banks offer home loan on under construction builder projects. On the other hand, all Banks / NBFCs offer a home loan for builder projects where occupancy certificate / completion certificate is issued.

Here is the list of builder / projects in Gurugram:

We offer home loans for various kind of challenging properties in MCG-approved colonies and other Tehsils of Gurugram.

The Municipal Corporation of Gurugram (MCG) has 36 wards in Gurugram. In addition, Gurugram has following sub-districts (tehsils) which have their own municipal corporation / committee

• Farukknagar
• Manesar
• Patudi
• Sohna

The most common challenge in MCG-approved colonies is the unavailability of an approved construction plan or map.

Private developers have created residential colonies in agricultural areas without the necessary approvals. So these areas are called unauthorized areas. These colonies are found in places like Sohna Road, Delhi Border, Farukknagar etc.

If you already have property registry in your name, you can get a home construction loan in these unapproved colonies.

You can also get a home loan for a ready-to-move resale house in these areas if there's a sale deed available. If not, you can explore options like personal loans or loans against existing property.

Lenders in these unapproved areas may be more flexible with document requirements.

We offer home loans in following villages, Gram Panchayats, and Lal Dora areas of Gurugram provided all legal and other requirements are met.

Banks can provide loans up to 50 crores or more, depending on your eligibility and property value.

To determine eligibility for a home loan, financial institutions consider various income assessment methods based on the borrower's profile:

• Salaried: Eligible for EMIs up to 75% of net salary depending on income level.
• Self-Employed Professional: Eligible based on net profits, gross receipts, average banking balance over the last 12 months, and repayment track record.
• Self-Employed Non-Professional: Eligibility based on net profit, gross profit, average banking balances over the last 12 months, repayment track record, and liquid income assessments. *Cases with decreased turnover and profit require prior discussion with the banks.
• NRI / PIO / OCI / Seafarers / Merchant Navy: Require minimum monthly income of 2000 USD, with EMI eligibility up to 60% of net income. *Cases with lower than 2000 USD income require prior discussion with banks.
• Rental Income: Up to 75% of rental income, or up to 90% if the property is leased to a corporate entity under the LRD scheme.

If you have any existing loans, their EMIs are deducted from your total eligibility. To increase your eligibility for a home loan, you can choose to close existing loans. Banks may offer conditional approval, requiring you to provide proof of loan closure before disbursing the home loan.

Some financial institutions offer home loans in Gurugram without requiring income proofs. These loans may come with a slightly higher interest rate.

Cash Salary: Loans up to 25 lakh with an employer's letter and verification.
Self-Employed Without ITR: Loans up to 75 lakh, subject to a business place visit and a personal discussion

If you have all documents are available, you can expect your home loan to be approved within 5 to 10 business days.

Document requirements vary based on your unique profile. You can refer to our general checklist in the documentation section for guidance.

Alternatively, provide us with your contact details, and we will share a personalized documents checklist and a free no-obligation loan quotation

With a reasonable justification and supporting documents, we may be able to secure a home loan for you. We charge a one-time coordination fee for handling challenging cases like these. This fee is payable upon loan approval.

Depending on the specific case, we can facilitate home loans for the following and more profiles:

• Lawyers
• Property dealers/builders
• Building material suppliers
• Scrap dealers
• Jewelers

Yes, you can opt for a moratorium during the construction phase of the property.

You may be eligible for tax deductions on money spent on purchasing and repaying home loans under the following income tax sections:

• Section 24B: Up to 2 lakh deduction for interest repayment in your EMI.
• Section 80C: Up to 1.5 lakh deduction for principal repayment and stamp paper for home purchase.
• Section 80EE: An extra 50,000 deduction for first-time homebuyers, on top of Section 24B limits.
• Section 80EEA: An extra 1.5 lakh deduction for interest repayment.

Banks or housing finance companies charge a processing fee and other incidental fees. Furthermore, banks and NBFCs may offer life insurance for the borrower's life and property to manage risks in case of unexpected events. Financial institutions typically finance insurance premiums over the loan amount.

At Joy Loan, we work to minimize your upfront expenses by securing the best deals with low processing and incidental charges.

For home loan amounts of 1.5 Cr and above, with no legal, technical, CIBIL, or eligibility challenges, we offer a special processing fee discount or cashback, effectively making your home loan with zero processing fees.

Plus, for higher loan amounts, we can secure even lower rates than the standard chart rates with top banks.

We charge a small, one-time coordination fee only for challenging cases, and it's paid after your loan is approved. This fee ensures that you receive the best loan options and the lowest rates, even for the most complex home loan requirements. Get started on your homeownership journey with us today!"

• Outright Sale: When buying a plot or a ready-to-move property, the bank provides a demand draft to the seller through legal representative during property registration.
• Approved Under-construction Projects: For such projects, financial institutions issue cheques to the builder based on their demand letter.
• Self-construction Cases: Payments are released to the borrower as construction progresses.
• Home Loan Transfers: When transferring a home loan, the bank's representative accompanies you to your existing bank to hand over the banker's cheque.

Repayments are made via monthly EMIs, which start after the loan disbursement. With under-construction properties, EMIs start after the final disbursement.

Repayments are facilitated through automatic debits from your salary or primary business account using the NACH/ECS facility.

In Gurugram to apply home loan, simply reach out to Joy Loan. We are your local and experienced loan partner. We not only connect you with the right lender but also streamline the loan application process and offer comprehensive support from the application to disbursement.

We serve the entire Gurugram and nearby towns up e.g. Farukknagar, Manesar, Patudi, and Sohna.

Along with Gurgaon, we also offer our services in other cities across Delhi-NCR.

We are a local loan agency based in Faridabad-Haryana with extensive understanding of local areas and the challenges of securing loans in Gurugram.

With over 12 years of experience, we've helped over thousands of customers, just like you, achieve their dream of homeownership. Thanks to our strong partnerships with leading banks and NBFCs, we provide unmatched home loan offers that our competitors can't match. So, if you're considering applying for a home loan in Gurgaon, contact us right now for the best loan deal and expert guidance.