You may find that in time you will need more space in your home, especially as your family grows larger. An additional room on the terrace, opening up a balcony etc. could do wonders to your home and lifestyle. The DHFL Home Extension Loans is created to meet this need in particular by offering loans at rates that you cannot turn down in order to make your home more spacious and thus more comfortable.
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Self-Employed Professionals (SEP)/Salaried individuals (SAL) |
Self-Employed Non Professionals (SENP) |
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5000* to 20,000* |
1.5%* |
*GST as applicable
It is possible to get a loan to cover the complete cost of the home extension cost as estimated and certified by a chartered engineer/architect and duly verified by DHFL. However you will get a maximum of `100 lacs or a maximum of 80% of overall market value of the property, whichever is lower. You can get a higher loan amount if you have an earning co-applicant.
The following factors will decide the actual Home Loan amount you are eligible for:
For verification purpose, you will need to provide the original documents.
If you do not fall under any of these categories of applicant, please refer to the official website to check the required documents that you will need.
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Type of applicant |
Documentation |
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Salaried Individuals |
KYC Documents |
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Last two month’s salary slip / Salary Certificate. In case you happen to have gotten variables such as Over Time and Incentives, you must provide the salary slips for the past 6 months. |
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If salary is above `20000/- per month, you will need to give the latest Form – 16. |
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Last three months’ copy of all bank statements/ bank pass books. This includes the front page |
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If the organization is not very well know, you will need to provide the Company profile. |
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Self – Employed Businessmen |
KYC Documents |
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Computation of income attested by a Chartered Accountant as well as copy of last 2 years Income Tax Returns of the applicant. |
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Copy of last 2 Years Profit & Loss Account and balance sheet of the organization which is attested by a Chartered Accountant |
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Short Business Profile on the Letter Head of the organization. |
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Bank Statement for the last 6 months for the Savings Account & Current Account, O/D Account |
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Copy of Shop & Establishment License / registration or old ITRs evidencing business / VAT Registration or any other mandatory license |
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Articles of Association (if applicable), Copy of the Partnership Deed, Memorandum of Associations, |
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Form -16A / Copy of Tax Deduction Certificate (if applicable) |
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Contract details (if applicable) |
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Copy of Self-Assessment Tax paid challan / Advance Tax paid |
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Self-employed professionals |
KYC Documents |
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Computation of income attested by a Chartered Accountant as well as copy of last 2 years Income Tax Returns of the applicant. |
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Copy of last 2 Years Profit & Loss Account and balance sheet of the organization which is attested by a Chartered Accountant |
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Short Business Profile on the Letter Head of the organization. |
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Bank Statement for the last 6 months for the Savings Account & Current Account, O/D Account |
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Copy of Shop & Establishment License / registration or old ITRs evidencing business / VAT Registration or any other mandatory license |
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Articles of Association (if applicable), Copy of the Partnership Deed, Memorandum of Associations, |
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Form- 16A / Copy of Tax Deduction Certificate (if applicable) |
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Contract details (if applicable) |
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Copy of Self-Assessment Tax paid challan / Advance Tax paid |
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Copy of Educational Qualification Certificate |
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Salary Certificate (in case of doctors having salaried income) |
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Copy of Professional Practice Certificate |
These are some of the service charges that you will have to bear:
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Service |
charge |
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Modification Charges/ CERSAI Registry |
` 250/ + any applicable GST for loans up to ` 5 Lacs ` 500/ + any applicable GST for loans above ` 5 Lacs. |
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Valuation fee in Construction Linked Loan cases |
The first visit will be free of charge, after which you will be charged Rs. 500 per visit |
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Overdue Charges on default instalment (EMI/Pre-EMI) |
18% Per annum on the outstanding dues |
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Demand Draft/Pay Order issuance Charges |
` 150 per lac or actual Bank Charges, whichever is higher + Service Tax |
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Duplicate No Dues Certificate |
` 250/- + GST |
Please contact the bank to see what other charges will be applicable to your case
The purpose of this loan is to borrow money if you want to extend your home or create more space in your home that you already own. This could be in the form of a room built on the terrace, in place of a balcony etc. These home improvement projects can be quiet expensive which is why many people go for home extension loans.
You can avail the flexible repayment tenure for up to 20 years.
You can apply for a Home Construction Loans with a co-applicant or individually. If you apply with a co-applicant you can get a higher loan amount if he/she is an earning member. Please contact the bank for more details regarding this.
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