Can I get hassle free loan for my new home?

Yes. All are projects have clear property titles with a title certificate issued by a reputed Advocate.

​

How much loan can the bank sanction for my new home?

Banks usually give a loan for 80% of the sale agreement value. However, the loan amount is also dependent on your income eligibility. The banks have the full discretion as regards to the loans.

​

What is the period for the loan that the bank can sanction?

The banks and other financial firms offer a loan for a tenure of 10-25 years.

​

Is there a thumb rule for EMI calculation?

The banks calculate the EMI based on 60% of your income per month. The banks offer an EMI of roughly Rs. 800 per lakh of loan amount.

​

What are the general documents required for processing the loan amount?

The documents are as follows:

Completed application form

Photograph of applicant

Photo identity proof

Residence Address proof

Signature verification proof

Age proof

Processing fee

​

For Salaried Applicants:

Last 3 months’ Salary slip

Form 16

Repayment track record of existing loans/Loan closure letter

Bank statement for the last 6 months from Salary Account

​

For self employed Applicants:

A brief introduction of business/profession

Photo identity proof, Residence Address proof, Signature Verification Statement for all the main partners/directors

Repayment track record of existing loans/loan closure letter

Board resolution in case of company

Proof of existence of company

Office address proof

​

Income tax return / Computation of total income / Auditor’s report / Balance sheet / Profit & loss account certified by Chartered Accountant for last 2 years (both for business and personal of partners/directors)

​

What is the stamp duty amount as per Goa Government?

The stamp duty amount is as follows:

​

For less than Rs. 1 crore agreement value:

At the time of agreement – 2.9 %

At the time of Sale Deed – 0.1 %

Registration fees at the time of Sale Deed – 2 %

​

For more than Rs. 1 crore agreement value:

At the time of agreement – 2.9 %

At the time of Sale Deed – 1.6 %

Registration fees at the time of Sale Deed – 3.5%

​

What is the GST amount?

The GST amount is 5% on the agreement value for non-affordable housing and 1% for affordable housing (<45 lakhs)

​

Can the GST be included in the total loan amount?

Yes. Most banks have now started including the GST amount in the total loan sanctioned.