Apply Loan Against Property In Chennai Up To ₹7.5 Cr

Loan Against Property EMI Calculator

Get Mortgage Loans in Chennai With Instant Approval

At Hero FinCorp, we prioritise providing our customers with a seamless and efficient loan processing experience. We understand the importance of a quick turnaround time, which is why we have streamlined our loan application process. Our user-friendly online application allows you to conveniently submit your loan request from the comfort of your home or office. Once you submit your application, our dedicated representative will promptly assist you throughout the process.

They will ensure smooth processing and swift disbursal of the loan amount. We value your time and strive to make the entire journey hassle-free. Our team is committed to providing you with the necessary assistance and guidance at every step, making the loan application and approval process a breeze.

Experience the convenience of our fast and efficient loan processing system with Hero FinCorp. With us, you can obtain a Mortgage Loan in Chennai quickly and easily.

Features and Benefits of Loan Against Property in Chennai

The Hero FinCorp Loan Against Property in Chennai makes financing significant expenses easier. You can benefit from low-interest rate finance, tailored with the best Loan Against Property features to maximise the potential of your property. Moreover, you can enjoy the flexibility to select a comfortable tenure that suits your repayment capacity. Explore the remarkable features and benefits of obtaining a Loan Against Property from Hero FinCorp below:

High Loan Amount

Unlock substantial funds ranging from Rs 20 Lakh to 7.5 Crore with our Loan Against Property. Leverage the value of Land Mortgage Loans in Chennai to meet your financial needs effectively.

Attractive Interest Rate

Enjoy competitive interest rates that ensure affordable repayments, making your Loan Against Property a cost-effective financing option.

Quick Loan Procedure

Experience a streamlined private mortgage loan in Chennai with Hero FinCorp, ensuring prompt processing and disbursal of funds to meet your urgent financial requirements.

Easy Repayment & Longer Tenure

Benefit from flexible repayment options and longer loan tenures, allowing you to manage your loan repayments comfortably over an extended period of 10 years.

Higher LTV

Our private finance against property in Chennai gets you the maximum Loan-to-Value (LTV) ratio, up to 75% of the mortgaged property value and considering the property type.

Hassle-free Documentation

Enjoy a hassle-free loan application process with minimal documentation requirements, simplifying the overall experience and saving you valuable time and effort.

Eligibility Criteria for Instant Mortgage Loan in Chennai

Here are the eligibility criteria for an instant mortgage loan in Chennai given below:

Age

Aged between 25 and 75 years.

Citizenship

The criteria include being an Indian national

Work Experience

Engaged in a profitable business and having an active business for at least three consecutive years.

Business Status

Applicants should have a profitable business running for at least 3 years.

Occupation Status

You must be engaged in a profitable business. Salaried-class individuals are not eligible for our mortgage loan.

Note: We do not provide Loan Against Property to salaried individuals.

Documents Required to Apply for a Loan Against Property in Chennai

At Hero FinCorp, we have made it easier for you to access funds for a Loan Against Property by simplifying the required document list. Below is a table that outlines the documents we need:

Mandatory Documents

Duly filled application form, PAN Card

Proof of Identity

Aadhar Card, ID Card, Driver's License, and Identity Card issued by GOI

Proof of Address

Passport, Driver's License, Utility Bill, Voter ID Card, Lease/ Rent Agreement, Registry Copy, Property Tax Receipt, GST Certificate

Proof of Business Existence

GST Certificate, UDHYAM Certificate, Partnership Deed Copy, Trade License, Certificate of Practice

Signature Proof

Banker's Verification, Passport, PAN Card

Proof of Income

Last three years' Income Tax Returns (ITRs), Income Statement, Profit and loss Statement Balance Sheet, Bank Account Statement (previous six months)

Property Related Documents

Complete set of documents pertaining to the property in question

Interest Rates on Mortgage Loans in Chennai

Availing an affordable Loan Against Property in Chennai is essential for making smart borrowing decisions. At Hero FinCorp, we deeply understand the needs of our customers and have meticulously designed our loan product to provide a seamless borrowing experience. Our Hero FinCorp Loan Against Property offers competitive interest rates and minimal fees, ensuring you can borrow cost-effectively. We firmly believe in complete transparency and assure you that no hidden charges are involved. With us, you can have peace of mind, knowing that we prioritise 100% transparency in all private mortgage loan in Chennai.

Our loan offering provides the best value with attractive interest rates for individuals who own private companies in Chennai and are seeking finance against their property. Additionally, we offer an extended repayment tenure of up to 10 years, enabling you to repay the loan over a more extended period comfortably.

Interest Rate

Starting from 11% P.A.

Loan Amount

₹20 Lakh to ₹ 7.5 Cr

Loan Processing Charges

Minimum Processing fee is 1%+ GST

Foreclosure Charges

Pre-Payment is not allowed within 12 months of loan sanction After 12 months, pre-payment charges will be applicable as described in the sanction letter

How to Apply For a Loan Against Property in Chennai?

Here's the application process for Loan Against Property in Chennai:

1
Check Eligibility: Ensure you meet our eligibility criteria, including age, business age, etc. You can refer to our FAQs for further clarification.
2
Documents: Keep all the necessary documents ready, such as KYC papers, property papers, income proofs (financial statements, ITRs), company constitution and registration proofs. So it is not possible to get a loan against property without income proof in Chennai.
3
Calculate Your EMI: Utilise the loan against property EMI calculator on our website to determine the most suitable EMI for repayment.
4
Online Application: Fill out the LAP application form on our website, providing personal, loan and additional details. Verify your mobile number with OTP.

Wait for verification and approval. Once approved, you will get a loan offer. Accept the loan offer to get the loan amount in your account.

If you prefer an offline approach, visit your nearest Hero FinCorp branch. Existing customers can directly contact their dedicated relationship manager.

For any other query, reach out to our customer care at 1800-103-5271, Monday to Friday, between 10 AM and 6 PM. Alternatively, you can email us at Corporate.Care@HeroFinCorp.com for further assistance.

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Frequently Asked Questions (FAQs)

Which finance company is best for a loan against property?

Hero FinCorp is one of the best finance companies. We recommend offers based on borrowers desired interest rates, loan amount, repayment terms, and other features.

How much amount of loan can I get against property in Chennai?

The loan amount depends on property value. Contact us for a personalised assessment. The maximum loan limit we provide is 75% of your property’s market value.

Can I get a loan without any income in Chennai?

No. Without income proof, you cannot get a loan against property in Chennai. You should have a successfully running business for up to three years with a regular income.

What types of properties can be used as collateral for LAP?

Residential properties (houses, apartments, plots), commercial properties (offices, shops), and industrial properties can be used as collateral for a Loan Against Property in Chennai.

What is the loan tenure for LAP?

Loan Against Property in Chennai usually comes with flexible tenure options, ranging from 5 to 20 years. You can choose a tenure that aligns with your repayment capability.

Can I foreclose or prepay the LAP before the tenure ends?

Yes, most lenders allow foreclosure or prepayment of LAP. However, some may impose prepayment charges, so it's essential to check the terms and conditions before proceeding.