Why a Home Loan In Pune Can Prove To Be a Lucrative Investment: Overview

Home Loan in Pune
Home Loan in Pune
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Maharashtra’s second-largest city, Pune, has lovely weather and excels in providing citizens with job opportunities. Therefore, it’s understandable that it has become one of the people’s favourite cities to live in India.

As more people find Pune to be a lovely place to build houses, many lenders like banks and housing finance companies will offer home loans to qualified people. Now is the time to take a home loan from a reputed lender. By doing so, you stand to profit from an interest rate of 6.70% amongst other exciting gains.

These days, most lenders agree to sanction loans while requiring minimal documentation. This makes availing of a loan in Pune not just lucrative but quite easy. Read on to learn why taking a home loan in Pune is a lucrative decision. 

Why Does Taking a Home Loan in Pune Feel Like a Lucrative Investment?

Taking a home loan in Pune is a profitable investment and listed below are four reasons why we feel so.

Low-Interest Rate 

One key characteristic of a home loan is that borrowers can avail themselves of any amount at a low interest rate. Provided that you have a clear debt repayment history and annual income, you can easily get approved by lenders for a home loan in Pune and pay less interest. Since you will be paying off your loan at a low-interest rate, you will save more in the long run and therefore, your investment will also bring better returns. 

Real Estate Development

Pune has attracted several investors because of the rapid pace at which its real estate market is growing. Some factors that strengthen our assertion include: 

● About 60,246 flats have been completed while 9150 flats are under construction. 

● There has been a significant development in the city’s infrastructure. 

● Pune operates a perfect demand and supply chain for real estate.

● The inclusion of 100 smart city programs.

Price Appreciation in Strategic Locations

Properties in certain areas of Pune city have witnessed a significant price increase. Wagholi has experienced a 13% increase, Koregaon has experienced a 50.3% increase, and Kharadi has experienced a 47.6% increase.

This price appreciation is due to an increase in the demand for properties in the above-mentioned areas.

Homes for Every Budget with Excellent Infrastructure

With properties like Rohan Abhilasha in Wagholi, Kalpataru Jade in Baner, Avin Vista in Balewadi having top-tier infrastructure, you should apply for a home loan regardless of your budget. So long as your annual income conforms with our requirements, you have nothing to worry about. 

The Requirements That You Must Satisfy Before Taking a Home Loan in Pune

Although the benefits associated with home loans are attractive these days, most lenders approve applications only when they deem an applicant qualified. Lenders determine applicants’ eligibility based on the following parameters.


Lenders prefer to extend their best loan offers to individuals in the early stages of their career, simply because these people have a long career ahead of them and therefore, they can afford to pay their loan over an extended tenor, if need be. On the other hand, old people or those nearing retirement have only a few earning years ahead of them, which makes them risky borrowers for lenders.

Citizenship and Residency  

All applicants, regardless of their employment type, must be legitimate Indian citizens residing in India. Some lenders also extend home loans to non-resident Indians. 

Credit Score 

You need to possess a minimum credit score of 725 issued by the Credit Information Bureau India Limited (CIBIL) to take a home loan in Pune.

The Documents Needed to Take a Home Loan in Pune

Below is a detailed list of the documents needed to take a home loan in Pune: 

● A duly filled and signed home application form 

● Photograph (passport size) 

● Proof of income like recent salary slips

● Proof of address like a utility bill. 

● Bank account statements dating back to 3 months

● Income Tax Returns  

Final Thoughts

With the current pandemic wreaking havoc for the real estate industry, the Reserve Bank of India has decided to keep the repo rate unchanged at 4%, which is one of the lowest it has been in years. So, use the current situation to your best advantage and become homeowners in Pune and wait for your small investments to fetch you big returns. 

ritika sharma