Meenakshi Group | Buyers Guide

Documents you need

Planning on getting a home loan? We can assist you. Ensure that you have the following documents ready.

Income Documents Income Documents

Income documents like your salary slips are necessary for a bank to assess your financial stability. The following documents qualify as income documents:

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Property Documents Property Documents

Checking the property documents is vital to ensure that everything is in order for the property:

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Personal Documents Personal Documents

Personal documents are required to conduct an identity check on the person applying.

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Loan Eligibility

By understanding loan eligibility, you can apply for the best loan and get the best interest rate.

Loan Criteria

There are certain criteria you have to meet to be applicable for a loan application.

    • Financial stability is key to accessing a loan. Having a regular income or sufficient savings can show that you are financially stable.
    • A positive credit score shows that you manage debt well.
    • Your monthly income is a big factor in deciding the size of the loan.
    • Your age is also factored in as it impacts your remaining years as an earning member.
Loan Criteria

Loan Eligibility

Loan eligibility is based on two parameters.

    • Your ability to repay the loan
    • Value of the property.

    Usually, a bank lender is willing to give a loan 60 times the monthly net income. Furthermore, the EMI is limited to 50%-60% of the total income. For example, for the monthly net income of Rs. 25,000, the bank will calculate Rs. 10,000 can be paid for EMI.

Loan Eligibility

Loan Insufficient

    If you realise that the loan amount you are eligible for is not sufficient, you don’t have to let go of your dream on purchasing prime real estate property. A joint home loan could be the answer. A joint home loan consigns the risk of a loan with two people. The co-applicant can be a spouse or a close family member. This is an excellent way of increasing your loan eligibility, purchasing a larger property, and sharing the burden of loan repayment.

Loan Insufficient

EMI Calculator

Calculate the EMI you will have to pay for your loan with the Meenakshi EMI Calculator.

Loan Amount 10 Lacs

Rate of Interest 80%

Tenure 5 Years

Monthly Installment


Vaasthu draws on from the Vedic wisdom of Ancient India. Meenakshi buildings and complexes are constructed following the principles of Vaasthu Shastra. By doing so, we bring peace and comfort to residents. Vaasthu helps create a happier and better life for people. It also enhances the spiritual enrichment of people. With the Meenakshi Group, Vaasthu or the science of architecture is always given a core focus.

NRI Corner

Residential Investment

Buying a residential property is a safe investment option. The value of real estate is always on a constant upward trend. Due to price appreciation, the property will generate a profit when sold. Additionally, the property can be let out to rent to generate additional income. Frequent price appreciations ensure that the income generated from rent also increases.

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Commercial Investment

There must be a strategic approach to investing in commercial property. While it requires a large amount of investment, its returns will also be large. Success in commercial investment hinges on the location of commercial property. It’s recommended that you invest in property that is located in the commercial hub. In such an area, the higher demand and price results in a higher income.

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Rent your property

Renting your property is an excellent way to earn additional income. Here are a few things to keep in mind when renting your property.

  • Rental Rate:Assess the price of similar properties in the area and set the price.
  • Well-maintained: To ensure that you can demand the best rent value, keep the property well-maintained.
  • Lease Agreement:Ensure that a lease agreement is signed by the tenant before handing over the keys.

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RBI Guidelines

The Reserve Bank of India has put in place new guidelines for home loans to ensure they are affordable. An increase in (LTV) Loan to value ratio for home loans below Rs 30 lakhs is one such change. In essence, this means that a lender can now fund over 90% of your home value. Loans over Rs 75 lakhs have a lower LTV ratio of 75% Loans over. A higher LTV makes the purchase of property through home loans much easier.

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What are you looking for?
The first step in searching for a property is set the parameters of location, size, age, and budget.
What should you look for in a property?
  • Accessibility: The property should be located in a convenient place that is accessible by road and public transport.
  • Nearby Facilities: Things like grocery store, school, restaurants and workplace should be close by.
  • Upcoming Projects: Any upcoming projects can positively impact the value of the property.
Are they any hidden costs?
Before signing the document with the developer, go over the payment structure and schedule. For any property that is sold by the Meenakshi Group, there are no hidden costs attached.
What factors should you consider when taking a home loan?
  • Avail of a loan from a reputed financial institute.
  • A processing fee will be charged by most financial institutions.
  • The Rate of Interest is between 10.25% - 12.50% depending on the tenure, fixed/floating rate and credentials of the borrower.
  • You can opt for a fixed or floating rate.
  • Tenure of the Home loan can be between 05-30 years.
  • Some of the institutions will finance the cost for the interiors too.
What documents do you need for a home loan?
  • Salary Certificate
  • Form 16 for last 3 years
  • TDS for last 3 years
  • Bank statements for 1 year
  • Professional qualification certificates
  • Proof of Age - Passport/Driving License
  • Residence proof – Ration Card/Passport/Aadhar Card
  • Photographs – Duly Signed

Contact Us

  • Corporate Office
    Corporate Office
    119, Road #10, Jubilee Hills Hyderabad - 500 033, India
  • Email ID
    Email ID
  • Telephone
    040 673 31 234, 040 233 58 111
  • Fax
    040 673 31 270