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As your family grows, the need for a bigger living space is realised. You may also need a more spacious home to add a new gym or office or accommodate guests. However, buying a new home can be a costly affair. Instead, you can opt for a home extension. This way, you\u2019ll extend your existing living space and eliminate the struggle of selling your old place and hunting for a new one.<\/p>\n\n\n\n
With a home extension, you can add space to your home, be it through the addition of a second storey, balcony, a room built on your terrace, or a home office to accommodate your work from home needs. However, extending your home with a functional room can also be heavy on your pockets. That\u2019s where a home loan for extension<\/a> of house can help.<\/p>\n\n\n\n A loan for the home extension is tailored to cover your house space addition expenses. To decide on the loan amount, you must make sketched out plans of extending your home, choose the right designer, and get a clear estimate of the overall costs. This way, you\u2019ll only borrow the funds required to extend your house.<\/p>\n\n\n\n With a home extension loan, you can finance not only the cost of the extension project but also the involvement of carpenters, painters, plumbers, electricians, contractors, architects, plasterboard experts, etc., and additional expenses if any.<\/p>\n\n\n\n Additional Read: <\/strong>How is Home Extension Loan Different From a Home Renovation Loan<\/a> <\/strong><\/p>\n\n\n\n Moving to a new house, adapting to new surroundings can be a hassle. And with a house extension loan, you can take care of the space crunch without having to shift.<\/p>\n\n\n\n Lenders usually cover up to 75% of the total extension cost. Like housing loans, loans for house extension are extended for long tenures, and you can comfortably repay the amount through EMIs that suit your financial needs.<\/p>\n\n\n\n In house extension finance, a minimal processing fee, based on your loan amount, is charged on your loan application. <\/p>\n\n\n\n Home loans <\/strong>for extension have limited paperwork requirements, including proof of address, income, employment, etc., and a straightforward application process. The entire application process can be completed online.<\/p>\n\n\n\n When you apply for house extension finance, you\u2019ll also be eligible for a tax deduction of up to Rs. 30,000 under Section 24(b) of Income Tax Act, 1961 on the interest payable.<\/p>\n\n\n\n Additional Read: <\/strong>Top Things to Know about Home Extension Loan from Tata Capital<\/a><\/p>\n\n\n\n Your home is where you grow as a family; hence it must always be a place that adds value and comfort to your life. So, if you want to extend your home, take care of your expenses with Tata Capital\u2019s housing finance. Avail of custom housing loans at competitive home loan interest rates<\/a>, easy-to-meet home loan eligibility<\/a> conditions, hassle-free processing, and swift fund disbursal.<\/p>\n\n\n\n Click here to use our home loan EMI calculator <\/a>and craft a comfortable repayment plan now!<\/p>\n\n\n\nWhat is home extension finance?<\/strong><\/h2>\n\n\n\n
Key features and benefits<\/strong><\/h2>\n\n\n\n
#1 No need to shift<\/strong><\/h3>\n\n\n\n
#2 Easy repayment<\/strong><\/h3>\n\n\n\n
#3 Low processing fee<\/strong><\/h3>\n\n\n\n
#4 Easy to obtain<\/strong><\/h3>\n\n\n\n
#5 Tax benefits<\/strong><\/h3>\n\n\n\n
To sum it up<\/strong><\/h3>\n\n\n\n