Financing Options for Real Estate Purchases in Tamil Nadu.

Financing Options for Real Estate Purchases in Tamil Nadu.

In Tamil Nadu, several financing options are available for real estate purchases, catering to various needs and financial situations. Here’s an overview:

Home Loans:

The most common option: Offered by various banks, housing finance companies, and non-banking financial institutions (NBFCs).


Interest rates can vary depending on the lender, loan amount, borrower’s credit score, and other factors.

Loan terms typically range from 15 to 30 years.

Different loan schemes cater to specific needs, like first-time homebuyers, women borrowers, or specific property types.

Loan Against Property (LAP):

Suitable for existing property owners: Borrow against the existing value of a property you already own.


Lower interest rates compared to personal loans.

Suitable for various uses, including real estate investment.

Loan amount typically limited to a percentage of the property’s market value.

Government Schemes:

Targeted schemes for specific groups: Offered by the central and state governments.


Pradhan Mantri Awas Yojana (PMAY) for economically weaker sections and low-income groups.

Tamil Nadu Housing Board (TNHB) schemes for various income groups.


Lower interest rates and subsidies compared to regular home loans.

Eligibility criteria and income restrictions may apply.

Developer Financing:

Offered by some real estate developers: Can help with down payment or initial installments.


May come with specific conditions like payment timelines or property restrictions.

Carefully evaluate terms and compare with other options before opting for developer financing.

Personal Loans:

Not ideal for primary residence: High interest rates make it an expensive option.

Suitable for:

Renovations or repairs on an existing property.

Short-term needs related to real estate purchase.

Choosing the right option:

Consult a financial advisor: They can assess your financial situation and recommend suitable options based on your needs and affordability.

Compare interest rates, fees, and terms: Don’t just go for the lowest interest rate; consider all loan terms and associated costs.

Factor in your financial situation: Choose a loan amount and repayment plan you can comfortably manage.

Remember, careful research and financial planning are crucial before choosing any financing option for your real estate purchase in Tamil Nadu.

Let us guide you through the journey of real estate purchasing with ease. With 10 years of experience in real estate asset acquisition, we can help you purchase the perfect apartment, land, villa, or commercial property. Don’t let the stress of buying property hold you back – trust VS Promoters to make the process hassle-free. With VS promoters as your trusted partner, you can confidently embark on this exciting path towards realizing your dreams of real estate.

For More Details:

Contact: +91 7094434780