Take Registration Charges and Stamp Duty into consideration: The indirect tax on the sale of property, i.e. stamp duty, is around 5% depending on the state where the home is located, and the registration fee is 1% for the same. However, these additional fees can amount to more than ₹50,000, if not in lakhs. Take these values into consideration depending on the market price of your property when applying for a loan.
The flexibility provided by Lenders: When choosing a lender or financial institution for your home loan, make sure they are flexible enough to allow for momentary fluctuations in payments.
Make sure the loan amount is bearable: The loan amount should, of course, be repayable, but at the same time, you should keep in mind that the longer you take to pay back the loan, it will get more expensive due to compound interest rates. Thus, calculate the most you can pay every month and make larger EMI payments.
To ensure you get a loan with ease, you should have a good credit score.
The indirect tax on the sale of property, i.e. stamp duty, is around 5% depending on the state where the home is located, and the registration fee is 1% for the same
The longer you take to pay back the loan, it will get more expensive due to compound interest rate.