Home Loan offerings by Piramal Capital & Housing Finance Ltd. (Piramal Finance)

Key Features

Loan amount

₹ 5 Lakhs - 2 Crore

Loan tenure up to

30 years

Interest rates starting at

9.50%* p.a

For detailed fees and charges Click here  *T&C apply

Who Can Apply?

The eligibility criteria mainly depends on your employment. Choose the employment type and check your eligibility.

Documents Required

For a House extension loan, we require certain documents based on the profession/occupation of the applicant.

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KYC Documents

Proof of Identity & Address

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Income Documents

Proof of Income

  • For Salaried

    • Last 3 months salary slips
    • Form 16
    • Bank statements from the previous six months and pay stubs
    • Documentation of the collateralized property
  • For Self Employed

    • ITR for the previous two years, with computation
    • CA audited financials wherever applicable
    • 6 months primary bank statement

Property Documents

Land & property related documents

  • Property-Related Documents

    • Stamped agreement of the sale / Sales Deed or the letter of Allotment
    • NOC from the builder / housing society
    • Possession Certificate
    • Detailed Construction cost estimation
    • Bank Account Statement
    • In case of Constructed Apartment - Occupancy Certificate

Co-applicants

Co-applicant is mandatory. Additionally, Woman co-applicant is mandatory in certain cases

Co-applicant can be spouse or any first blood relative like parents, siblings, children who hav attained age of maturity (s.t income-ownership grid)

All co-owners of property should be on loan structure

Friends cannot be co-applicants (allowed only if they are coming in the capacity of Partners / Directors / Shareholder)

Passport Size photographs

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Our Happy Customers

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Why Choose Us?

There are various reasons to choose a home extension loan from Piramal Finance, and here are a few:

Benefits of Home Extension Loan by Piramal Finance

Easy and Hassle-free Application Process

You will experience an easy and seamless application process at Piramal Finance. You can apply for a home extension loan digitally to save time.

Simple And Quick Approval Process

You can get quick and easy approval for a home extension loan. Therefore, we are regarded as the leading provider of home extension loans in Bharat. We've also streamlined the procedure by making it a quick digital verification process.

What Is The LTV Ratio Of Home Extension Loan

The LTV or Loan-To-Value ratio of a home extension loan is the total percentage or share of a residential property’s worth that we can finance and disburse through the loan.

The LTV ratio for such a loan must not surpass the regulatory and official caps on the home loan LTV ratios determined by the Reserve Bank of India. Here’s a breakdown of the loan amounts disbursed through home extension loans along with their respective LTV ratios:

  • Row1

    • Amount Of Loan To Be Disbursed
    • LTV Ratio
  • Row2

    • Maximum of INR 30 lacs
    • A maximum of 90% of the construction cost estimate
  • Row3

    • From INR 35 lacs to INR 75 lacs
    • A maximum of 80% of the construction cost estimate
  • Row4

    • From INR 35 lacs to INR 75 lacs
    • A maximum of 75% of the construction cost estimate

We as a financial institution, assess creditworthiness to figure out the final LTV ratio for the prospective borrower seeking a home extension loan. A few of the key considerations for credit risk evaluation comprise the loan petitioner's creditworthiness, repayment ability, real estate market value, and so on.

What Is The LTV Ratio Of Home Extension Loan

The LTV or Loan-To-Value ratio of a home extension loan is the total percentage or share of a residential property’s worth that we can finance and disburse through the loan.

The LTV ratio for such a loan must not surpass the regulatory and official caps on the home loan LTV ratios determined by the Reserve Bank of India. Here’s a breakdown of the loan amounts disbursed through home extension loans along with their respective LTV ratios:

We as a financial institution, assess creditworthiness to figure out the final LTV ratio for the prospective borrower seeking a home extension loan. A few of the key considerations for credit risk evaluation comprise the loan petitioner's creditworthiness, repayment ability, real estate market value, and so on.

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Frequently asked questions

What is a Home Extension Loan?

It's a loan that allows you to expand or add living space to your home, such as additional rooms or floors.
Who can avail of a Home Extension Loan?
Piramal Finance offers a home extension loan to anyone who meets the home loan eligibility criteria and wants to expand their existing apartment, floor, or row house.
What are the Tax Benefits Under Home Extension Loan?
The Income Tax Act of 1961 allows you to deduct the principal and interest components of your home extension loan. Because the benefits may vary from year to year, please consult with our loan counselor about the tax benefits that you may be able to obtain on your home loan.
What are the Eligibility Criteria for a Home Extension Loan?
Piramal Financial has specified its criteria for determining your ability to repay a home extension loan. Age, employment position, employment stability, and credit score are some of the primary criteria used by banks to determine home extension loan eligibility.
What is the Tenure for Home Extension Loan?
The duration normally runs from 5 to 25 years, and that can be chosen depending on your home loan eligibility requirements.
How to Apply for Home Extension Loan at Piramal Finance?
  • Go to our application form and fill out the details.
  • Submit all your Income and KYC documents.
  • Wait till the application gets processed for verification.
  • If everything meets the eligibility criteria, your loan will be approved within a few minutes.
  • Subsequently, the loan amount is disbursed and credited to your bank account.
What type of Security is Required to Obtain a Home Extension Loan?
The security required for a home extension loan varies by lender.
Why Choose Us for Home Extension Loan?

There are various reasons to choose a home extension loan from Piramal Finance, and here are a few:

  • Pan India branch network & amazing post disbursement
  • High and excellent standards of transparency, integrity, and ethics
  • Devoted team of experienced professionals who operate on industry-leading information systems
  • Multiple repayment options
  • Option to enhance the loan amount if there’s any escalation in cost
  • Quick and seamless loan approval and disbursal

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