Most first-time buyers in Gurugram finance their purchase with a home loan, and it helps to understand the basics before you start shortlisting properties.
Banks and housing finance companies typically lend up to 75-90% of the property's value, depending on the loan amount, meaning you'll need to arrange the remaining 10-25% as a down payment from your own savings. Your eligible loan amount depends on your income, existing obligations (EMIs, credit card dues), and the lender's own debt-to-income norms — it's worth getting a rough eligibility check from two or three lenders before you finalise a budget.
Interest rates can be fixed or floating, with most home loans in India currently offered on a floating rate linked to an external benchmark like the repo rate. A floating rate means your EMI or tenure can change when the benchmark moves, so ask your lender to walk you through how a rate change would actually affect your repayment.
Before disbursement, the lender will do its own technical and legal verification of the property, including checking RERA registration for under-construction projects. This is a useful independent check in addition to your own due diligence, not a replacement for it.
Finally, factor in the one-time costs beyond the loan itself: stamp duty and registration charges, processing fees, and if applicable, GST on under-construction property — these can add up to a meaningful percentage on top of the property price.