Shivashakti Properties & Finance Solutions

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Our services

Individual Home Loan

Helps you to get the hassle free, fresh and customer friendly home loans. The tenure of a home loan can be up to 20 years. Loan can be applied for a maximum of 90% of the property value subject to credit discretion.

Home Improvement Loan

We bring to you a unique loan product. A loan for Renovations of Home and for Furniture & fixture. With repairs/renovation of existing dwelling unit, the value of the property also increases.

Home Extension Loan

Banks provide customers with home extension loans to extend their houses, add more rooms etc. Banks normally offer 70-85% of the total amount of (Bank Approved) home extension as loan.

NRI Home Loan

Home loans for NRIs are available for construction of new house / flats, purchase of old house / flat addition / alteration to an existing house and repairs / renovation etc. NRIs can avail of loans by mortgaging an existing residential property.

Top Up Loans

Top up loans are an extension of takeover loans, by way of an additional amount on the original loan. This facility is also available to our existing customers. The maximum amount of loan offered by banks generally does not exceed 70% of the market value of the property.

Balance Transfer

Get the lowest interest rate when you transfer your existing home loan. It is transfer of high cost home loans to lower cost loans, from Approved Banks. Home Loan Balance Transfer is based on your convenience and make you feel comfortable.

Plot Purchase & Construction Loan

We are coming out with attractive loan plans for its customers for purchase of land, purchase or construction of house/flat. The loan can be taken for both land purchase as well as construction on the land.

Loan Against Property

We realise how important it is to raise money in the face of exigencies. We help you through these difficult situations through customer friendly Loans against property (Residential & Commercial) product. So go on, while you make your plans, allow us to make sure they reach their heights.

Loan Against Rent Receivables

Enjoy the benefits of future rentals today and execute your business plans immediately. Loan against Rent Receivables (LARR) empowers you to use your rental cash flows right now! Before offering this loan, the banks will make ensure about the property.

OUR MISSION

Why choose us?

Home loans are available at almost all top banks/NBFCs so choosing one might be easier for you. We helps you in selecting one suitable lender based on your requirement. Here are the reasons to choose us:

  • Online Marketplace - Wea are an online marketplace service provider for loans with unbiased suggestions.
  • Instant Quotes from Top Lenders - You get instant quotes from top banks and NBFCs.
  • Expert Advice - You get expert advice from experienced advisor.
  • Transparent Process - We are there to answer any query related to your home loan application.
  • End to End Service - You get 100% assistance for the loan application ensuring fastest turnaround process.
  • Eligibility for a Home Loan

    For a hassle free loan process

    Monthly Income

    The higher your income, the higher the loan amount eligibility and greater your chances of acquiring your dream home.

    Age

    Starting early has its benefits. Applying at age 30-35 years makes you eligible for a higher loan amount, as compared to applying when you are 40-50 years old.

    Property Value

    Quality adds to credibility. Choosing a good property in an approved society, colony or area is viewed more favourably by banks.

    Credit History

    Your Credit History can open or close the gate to your dream home. Always maintain a good CIBIL score.

    Income Tax Payer

    ITR is considered the single most important document rquired for Home Loan application in order to assess your level of income.

    Employment Status

    As a Salaried person, you must have a minimum of 3 years work experience, to become eligible for a home loan.

    Professional Status

    As a self-employed professional or a businessman, you must submit your professional details, business status record and bank statements as proof of your financial stability.

    Relationship with Lender

    A good understanding with the bank can go a long way in negotiating a good loan amount at lower rates.

    Your Employer Category

    Working at a well-regarded company not only adds to your reputation, but also your loan eligibility. A Fortune 500 Company on your visiting card really helps!

    Save tax on Home loan

    Tax benefits on loan

    Home loans come with tax benefits for borrowers to avail. The tax benefits apply to both principal and interest repayments. You can get a maximum tax savings of up to 1.5 lakh on principal repayment in a financial year under Section 80C of the Income Tax Act. On the other hand, you can get a maximum tax savings of up to 2 lakh on interest repayment in a financial year under Section 24 of the IT Act
    Will the EMI Change with the Change in Home Loan Interest Rates?

    The Equated Monthly Installment (EMI) would most likely remain unaffected with the change in home loan interest rates. The change in rates would, however, lead to a change in the proportion of interest and principal along the years. If the lender raises the interest rate, the interest portion of the EMI will increase. The principal portion would decrease in such a case. When the lender cuts the rate, the interest portion will come down. The principal portion of the EMI would increase.

    Banks typically price floating home loans on the basis of the Marginal Cost of Lending Rate (MCLR), a loan pricing mechanism that was introduced by the Reserve Bank of India (RBI) in April, 2016. Before that, banks used to charge home loans on the basis of base rate. New customers applying for a home loan are offered interest rates benchmarked to the MCLR. Banks publish MCLR for different tenures - Overnight, Fortnight, 1 month, 3 months, 6 months, 1 year, 3 years, etc, every month. Most banks choose 1-year MCLR to price home loans. The mark-up portion is also added over the MCLR to arrive at the actual lending rate.

    Housing Finance Companies (HFCs), on the other hand, benchmark Retail Prime Lending Rate (RPLR) or any reference rate. The actual rate is arrived by deducting a few percentages from the said benchmarks.

    No, the interest rate won’t change whenever the lender changes the MCLR. For example, if the lender has provided you a loan on 1-year MCLR, the rate will be subject to change after a year from the date of home loan sanction. The same pattern will follow afterward. When the reset date arrives, the loan will be repriced according to the prevailing MCLR

    Are you looking for Home Loan? Get in touch with us.

    About Home Loan

    A home loan is given by a financial institution or bank for property purchase. You can buy/construct/renovate/extend your house with this money and repay it gradually within the chosen time period. Home loans are secured against the property and in case of failed repayment, the lender can use it for debt settlement. The eligibility for a home loan depends on an applicant's income, credit history, property value and location, income proof, and property documents. On the basis of these factors, maximum loan amount is calculated. So, you can compare different lenders. Look at the additional benefits of a home loan:

    Features & Benefits of Home Loan

  • Interest rate starting from 8.60% per annum
  • Special rates for women borrowers
  • Fixed EMI for the whole tenure period
  • Interest subsidy available via PMAY CLSS scheme
  • Tax exemptions of up to Rs. 1.5 lakhs and Rs. 2 lakhs on principal and interest portion, respectively, throughout the loan, even if the money is used for home renovation/extension/reconstruction 
  • Option to take top-up loan for the above purposes
  • Home loan balance transfer facility
  • The maximum tenure is up to 30 years    
  • Loan amount depends on the outstanding balance of the existing home loan subject to LTV ratio
  • Processing Fee - 0.35% of the loan amount plus GST onwards    
  • Availability of substitute income documents - ITR or annual turn over
  • Importance of additional income in loan eligibility.
  • Co-borrowers of the loan can also avail tax benefit if they are co-owners of the property as well.
  • Types of Home Loans

    The different types of housing loans offered by banks/NBFCs in India are as follows:

  • Home Purchase Loan 
  • Land Purchase Loans/Plot Loan
  • Home Construction Loan
  • Home Improvement Loan
  • Home Conversion Loan
  • Home Extension Loan
  • How to get a Home Loan offline?

    The offline process for a home loan is very simple. You just need to visit the nearest branch of your desired housing finance company or bank and check the requirements. You have to follow the below steps:

  • Visit your selected lender's nearest branch
  • Check the required documents with the executive
  • Fill up the form properly
  • Submit the form, documents and processing fee cheque
  • Documents required for Salaried

  • Filled home loan application form
  • Identity Proof- Aadhaar Card/ Passport /PAN Card/ Voter ID Card /Driving License
  • Address Proof - Passport/Aadhaar Card /Utility Bill
  • Residence Ownership Proof - Property Documents/Maintenance Bill/Electricity Bill
  • Income Proof - Latest 3 months Salary Slips and Form 16
  • Job Continuity Proof - Current Employment Certificate /Current Job Appointment letter (if more than 2 years)/Experience Certificate (including your previous job certificate or appointment and relieving letter)
  • Bank Statements - Latest 1 year statement where your salary is getting credited
  • Property Documents - Copy of agreement executed / Sale Deed, Share Certificate, Latest Maintenance Bill, List of documents & sanction letter given by Existing Banker (If applicable)
  • Advance Processing Cheque
  • Investment Proof - Fixed Deposit/Shares/Fixed Assets, etc.
  • Passport size photograph/s
  • Documents required for Self-Employed

  • Filled home loan application form
  • Identity Proof - Aadhaar Card/ Passport /PAN Card/ Voter ID Card /Driving License
  • Address Proof - Passport/Aadhaar Card /Utility Bill
  • Residence Ownership Proof - Property Documents/Maintenance Bill/Electricity Bill
  • Income Proof - Latest 3 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.,
  • Business Existence Proof - 3 years old Saral Copy /Shop Establishment Act /Any Tax Registration Copy /Company Registration license
  • Bank Statement - Latest 1 year bank statement both current and savings.
  • Property Documents - Copy of agreement executed / Sale deed, Share certificate, Latest maintenance bill, list of documents & sanction letter given by existing banker (If applicable)
  • Advance processing cheque
  • Investment Proof - Fixed Deposit/Shares/Fixed Assets, etc.
  • Passport size photograph/s
  • Please note that income proof is the most important document to get a home loan approval. If you do not get your salary in a bank account, you can not apply for a home loan. Only a limited NBFCs will consider your application for approval at a higher rate of interest. Recently, Union Cabinet declared 10 per cent reservation for economically weaker upper castes recently and now ministry might bring in another surprise for the middle class people of India. The finance ministry might increase the savings limit under Section 80C of the Income Tax Act, providing tax benefits to pensioners and lowering of interest rates on housing loans. 

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