Understanding the Home Loan Limitation for NRIs Regarding Property Value
Monday, 15 July 2024, 06:52
Overview
The article addresses the challenges of securing a home loan from an NRI, focusing on the limitation imposed on property value.
Key Points:
- Loan Cap: NRIs may face a cap of 60% on the property value when applying for home loans.
- TDS Impact: The article discusses the significant role of the TDS component in loan approval processes.
- Solutions: Strategies such as negotiating for lower TDS certificates or adjusting downpayments are presented.
Conclusion
Understanding the implications of TDS in NRI home transactions is crucial for potential buyers to navigate loan approvals effectively.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.