Alpine with a view to facilitate its customers gets all its Housing Project cleared from major financial institutions. With this the customer has to give details of only his earnings to get the approval of loan.

In the following section of question and answer, you may get reply to your questions, if you have any further questions please send us an e-mail or write to us for a prompt reply.

What could be the quantum of housing loan?
The quantum for a loan can be 70% - 85% of the total Apartment value including Deposits due to Governement Departments and Registration Cost.

Who can take housing loan?
An individual who is in service in private/public company, Businessman, Professionals etc.

What is the procedure to take a housing loan?
Fill up the application form of the concerned financial institution and submit the same along with required documents.

Generally what documents are to be given for a housing loan?

All documents related to the property including sanction plan, which the builder will submit.

Application form duly filled up.

Original Sale & Construction Agreement of the Apartment.

Original receipt for the amount paid towards apartment by the purchaser. (His part of payment)

NOC from the Builders.

IT Returns/Form 16 for 2 years.(in case of businessmen & Professionals)

Latest Salary Slip.

6 months bank statement.

2 Photographs.

Generally what is rate of Interest applicable for Housing loan?
The interest rate for Housing loan are in the range of 8.25% to 9.5% depending on quantum of loan, period of loan and the financial institution.

What is EMI?
Equated Monthly Instalment.

Can we pay early to close our loan amount?
Most of the financial institution allow early re-payment of loan amount.

Can NRI's pay the EMI from rental and other income credited to NRO a/c?
Yes.

Is theres any incometax benefit for me if housing loan is taken?
Yes, upto an amount of Rs.1,50,000 per year the interest paid is entitled for deduction from the total taxable income.

What is the period to repay loan?
Minimum 5 years to Maximum 15 Years, some institution provide loan upto 20 Years.