1. Check Your Eligibility

• Age: 21–60 for salaried, up to 65 for self-employed
• Steady income and a stable job or business history
• Credit Score: 750+ for better interest rates

2. Gather Key Documents

• Identity/Address: Aadhaar, PAN, Passport, or Voter ID
• Income: Salary slips, Form 16, bank statements (salaried); ITR, GST returns, P&L (self-employed)
• Property: Sale agreement, approved plans, NOCs, RERA registration

3. Evaluate Budget & Loan-to-Value (LTV)

Lenders typically offer 80–90% of the property’s value. Don’t forget to factor in stamp duty, registration fees, and GST (for under-construction properties like this one).

4. Compare Lenders & Government Schemes

• Compare banks vs. NBFCs: interest, processing fees, loan tenure
• PMAY: Pradhan Mantri Awas Yojana can offer interest subsidies to first-time buyers

5. Pre-Approval & Underwriting

Submit financials for a pre-approval. The lender will assess your repayment capacity and evaluate the property’s value.

6. Sanction & Disbursement

• Sanction Letter: Details loan amount, rate & terms
• Disbursement: Made to the seller or builder, often in stages for under-construction units like Bhartiya Nikoo Homes VI Phase 2

7. EMI & Insurance

EMI starts post-disbursement. Set up auto-debit to avoid delays. Consider optional home loan insurance to protect your family from future liabilities.

8. Tax Benefits

• Section 80C: Deduct up to ₹1.5 lakh of principal annually
• Section 24: Deduct up to ₹2 lakh of interest annually