Get the Tata Capital App to apply for Loans & manage your account. Download Now

Blogs SUPPORT
Loans For You
Loans for Business
Investment
Insurance
Apply

Quick Links for loans

Quick Links for Insurance

Investment

Offers Quick Pay
Back

Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure
Know More
Back

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required
Know More
Back

New Commercial Vehicle Financing

  • First time user
  • Retail and strategic Clients
Know More
Back

Used Commercial Vehicle finance

  • Repurchase
  • Refinance
  • Top up
  • Balance Transfer
Know More
Menu  
 
Apply Now

Tata Capital > Blog > Loan for Home > Home Extension Loan: Home Improvements Made Easy

Loan for Home

Home Extension Loan: Home Improvements Made Easy

Home Extension Loan: Home Improvements Made Easy

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’ll extend your existing living space and eliminate the struggle of selling your old place and hunting for a new one.

What is a home extension?

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’s where a home loan for extension of house can help.

What is home extension finance?

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’ll only borrow the funds required to extend your house.

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.

Additional Read: How is Home Extension Loan Different From a Home Renovation Loan   

Key features and benefits

#1 No need to shift

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.

#2 Easy repayment

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.

#3 Low processing fee

In house extension finance, a minimal processing fee, based on your loan amount, is charged on your loan application. 

#4 Easy to obtain

Home loans 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.

#5 Tax benefits

When you apply for house extension finance, you’ll 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.

Additional Read: Top Things to Know about Home Extension Loan from Tata Capital

To sum it up

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’s housing finance. Avail of custom housing loans at competitive home loan interest rates, easy-to-meet home loan eligibility conditions, hassle-free processing, and swift fund disbursal.

Click here to use our home loan EMI calculator and craft a comfortable repayment plan now!

Apply For Home Loan

Say Hello to Your New Home with Our Easy Home Loans!

Apply now
Popular Searches
anyror modt charges 712 utara online gujarat pre emi calculator earnest money deposit Goa Land Record earnest money khasra number meebhoomi Assam Land Record
Disclaimer

Most Viewed Blogs

Trending Blogs

Calculator

Personal Loan EMI Calculator

Personal Loan EMI Calculator
Home Loan EMI Calculator

Home Loan EMI Calculator
Business Loan EMI Calculator

Business Loan EMI Calculator
Used Car Loan EMI Calculator

Used Car Loan EMI Calculator
Two Wheeler Loan EMI Calculator

Two Wheeler Loan EMI Calculator
Loan Against Securities Calculator

Loan Against Securities Calculator
Loan Against Property Calculator

Loan Against Property Calculator
More Tools
Our Subsidiaries
Our Other Websites

Important Information

Investor Information

Visit us on:,Visit us on: www.tatacapitalmoneyfy.com,www.tatacapitalmoneyfy.com

Our Private Equity Funds

Amalgamated Companies

Top Branches
Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Policies, Codes & Other Documents

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Tata Capital Solutions & Services

Uh oh, something went wrong

Please try again later.