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There is mainly 2 types of properties- authorized property and unauthorized property. Authorised properties fall under regulation of government in terms of development charges/fee like property tax, house tax, land tax etc. Any property that is exempt from these fees is unauthorized example, Lal Dora properties.
Authorized Property can be further classified in to 2 categories.
In Delhi, numerous authorities like DDA, MCD, L&DO undertake development and allotment of housing societies and schemes. These properties are perfect in terms of paper work involved with all sanctions and clearances in place. Every bank or NBFC will easily provide home loans for these properties basis the customer profile.
Builder properties like SuperTech, Omaxe, Unitech, DLF, Ansal, BPTP, Parsvnath etc develop and construct residential units, where they take necessary permission and clearances for every aspect like fire, water, forest, district planning etc. There are certain banks and NBFC's which provide home loans in these projects. Banks underwrite these projects after a study of their economic feasibility, reputation of builder etc. Once these projects have been completed and possession is handed over, then home loans from every bank becomes available to these projects.
LoanAdda is an online portal for Home Loans, Loan Against property, Unsecured loan, business loans etc. We have a tie-up with over 40 banks and NBFC's which makes our success rate in home loans at 100%. Our expert team understands your loan requirement and processes the documents required, so that you are assured of a loan at the lowest rate possible.
Buying a home in an unauthorized area or Lal Dora property and not able to avail of a home loan? LoanAdda specializes in providing loans for these cases also. Speak to a LoanAdda expert today, 0120-4545956 or visit www.loanadda.com