Mortgage Calculator
Calculate your mortgage EMI, total interest, and repayment amount. Understand the full financial commitment of property financing with property law considerations.
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* എല്ലാ കണക്കുകൂട്ടലുകളും ഏകദേശമാണ്.
പ്രധാനം — തീരുമാനിക്കുന്നതിന് മുമ്പ് വായിക്കുക
- Always obtain an Encumbrance Certificate (EC) for the last 30 years to verify the property has no existing liens or mortgages
- Title verification by an independent lawyer is essential — banks do their own title check but it may not cover all risks
- Property tax receipts must be current — outstanding municipal taxes become the buyer's liability after registration
- Society NOC (No Objection Certificate) is mandatory for resale flats — the housing society must approve the transfer
- Land records (7/12 extract in Maharashtra, Patta/Chitta in Tamil Nadu, Khata in Karnataka) must match the seller's name
- Stamp duty varies by state (3–8%) and is calculated on the market value or agreement value, whichever is higher
- Mortgage creates an equitable charge on your property — the bank holds the original title deed until full repayment
- Conversion certificate is required if agricultural land was converted for residential use — missing this can void the purchase
ഇവ അവഗണിച്ചാൽ എന്ത് സംഭവിക്കും?
- Purchasing property with unclear title can result in years of litigation and complete loss of investment
- Missing encumbrance checks may mean the property is already pledged to another lender, making your mortgage void
- Outstanding municipal taxes and society dues become your burden after purchase — these can run into lakhs
- Defaulting on a mortgage gives the bank the right to auction your property under the SARFAESI Act with just 60 days notice
- Not verifying land use conversion status can lead to demolition orders from municipal authorities
- A 25-year mortgage at 8.75% means total repayment is approximately 2.5 times the original loan amount
സ്മാർട്ട് ടിപ്പുകൾ
- Hire an independent property lawyer for due diligence — never rely solely on the bank's legal verification
- Obtain the EC, title deed, property tax receipts, approved building plan, and occupancy certificate before applying
- Negotiate the interest rate aggressively — banks have flexibility of 0.1–0.5% based on your profile and loan amount
- Make annual lump-sum prepayments to reduce tenure — even ₹1 lakh per year can cut your tenure by 5–7 years
- Verify the property's FSI (Floor Space Index) compliance to avoid future demolition or penalty risks
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