Owning a home really makes you feel protected and happy as it also serves as a great asset in times of crisis. However, it is not possible for every homeowner to realize their dreams of an abode and hence GIC Housing Finance assists in fulfilling your dreams. This finance corporation promotes housing activities and ensures that your dream doesn’t remain only a dream but turns into a reality.
Housing is a basic need of every individual along with clothing and food and keeping this concept in kind GIC offers financial assistance to individuals so that everyone enjoys a comfortable life. There are however a number of financial institutions which offer housing loans for buying a new property but their interest rates are extremely high. The main purpose of GIC now is to offer housing loans to individuals and entities engaged in the construction of residential houses and flats. In order to accelerate the housing activities in India this finance corporation has been set up. The firm has around 42 branches across the country and even has tie-ups with several builders who can provide financing to individual borrowers.
The realization of your dreams is in the hands of the firm as they transform them into houses so that you always remain protected. The firm offers a loan for property purchase after checking the location and the stage of the construction property so that any frauds can be avoided. Other important factors which also play a major role in the financing process include affordability, clear property title, options for public transportation, builder’s reputation, proximity to hospital, school and office, pollution and traffic level, water supply, crime rate prevalent in the area, parking space and society charges. The various schemes of GIC Housing include Home Guard Loan, Apna Ghar Yojana and also Step Up and Down schemes for NRI’s.
The loan amount from the GIC Housing is available with ease and is calculated based on the amount of loan repayment that the borrower can afford to pay and a percentage of the property cost. The maximum tenure of the loan is based on the borrower’s age at the time of application hence it should not exceed 60 years for salaried professionals and 65 in case of self employed individuals. The application form for the loan facility is easily available online and it can either be downloaded from the website or can be obtained from the branch office. Once your application is processed the final loan amount is communicated to you.