What is interest rate for commercial loan?
The average interest rate on a commercial real estate loan is about 2.2% to 18%. The actual interest rate you secure depends on the type of loan you choose, your qualifications as a borrower, and the type of building or project you’re financing.
Do we get tax benefit on commercial property loan?
No limit is defined for the deduction of interest in case of commercial property loan. The taxpayer can claim tax deduction for the whole interest amount. However, starting FY 17-18, the maximum loss for Income from House Property if any after deduction of interest is capped at Rs 2 lakhs annually as explained below.
Is it good to buy commercial property?
Appreciation Value: Commercial real estate provides excellent appreciation over a longer period as compared to other property types. Also, investing in a premium commercial property through REITs or fractional ownership may provide attractive returns with much lower and pocket-friendly investment.
Can I claim interest on commercial property?
What is HDFC commercial property loan?
Check your Eligibility! HDFC Commercial Property Loan is a financing product designed for commercial purchase of plots and ready premises/buildings. This loan is available mainly for purchase of office space, for professionals and non-professionals.
What is the maximum repayment period of HDFC commercial property loan?
The maximum repayment period is 15 years. The loan amount available depends on the following conditions: The Commercial Property Loan comes under the Adjustable Rate linked to HDFC’s Retail Prime Lending Rate (RPLR). The interest rate on the loan could be reset every 3 months if the RPLR changes.
Why not build your workplace with HDFC’s commercial plot loan?
So why not build a workplace that is uniquely yours, a workplace that is a reflection of your beliefs. HDFC’s Commercial Plot Loan helps you acquire commercial land so that you can build the office of your dreams. Please note: You have to commence construction on the said plot within 5 years from the date of first disbursement.
What are the documents required for HDFC commercial property loan?
Documents Required for HDFC Commercial Property Loan: The following documents, which need to be self-attested, are required to avail an HDFC Commercial Property Loan: Proof of identity: Passport/Voter’s ID/Aadhaar/Driving licence/PAN/MNREGA job card.