Financing Your Dream Home: A Complete Home Loan Guide for Prestige Golden Grove Buyers

Before going into detail, here is a quick summary of what buyers need to know.

• Payment Plan: 10 percent at booking, 10 percent at agreement, 80 percent later
• Estimated Interest Rate in 2026: 7.50 to 8.25 percent for CIBIL score of 750 and above
• Loan to Value Ratio: Up to 80 to 90 percent of the agreement value
• Top Approved Banks: SBI, HDFC, ICICI, Axis Bank, Kotak Mahindra
• Loan Processing Time: 3 to 5 working days for pre-approved applicants

Not all projects are approved by banks. Getting a loan for an unapproved project takes much longer. It also comes with more paperwork and more risk.

Prestige Golden Grove is already approved by top banks in India. These banks have checked the project for legal and technical compliance. Because they have already done this work, your loan can be processed much faster.

Here is what bank approval means for you as a buyer:

• The loan process can be completed in 3 to 5 working days
• Some banks offer a waiver on processing fees for this project
• If you have an existing relationship with one of these banks, you may get a pre-approved offer
• You only need to arrange the 10 percent booking amount upfront. The bank takes care of the rest

This makes the buying process much less stressful for first-time buyers in particular.

The payment plan at Prestige Golden Grove follows a simple three-step structure. It is called the 10:10:80 plan.

Here is how it works:

• Step 1: Pay 10 percent of the total cost at the time of booking
• Step 2: Pay another 10 percent when the Agreement of Sale is signed
• Step 3: The remaining 80 percent is paid over 28 bi-monthly instalments

The third part is usually covered by your home loan. The bank releases the funds in stages as construction progresses. This is called a construction-linked payment plan.

What Is Pre-EMI and How Does It Help?

During construction, you do not pay a full EMI. You only pay the interest on the amount the bank has already released. This is called Pre-EMI.

For example, if the bank has released Rs 30 lakhs so far, you only pay interest on Rs 30 lakhs. Not on the full loan amount. As more money is released over time, your Pre-EMI goes up slowly. The full EMI only starts after possession.

This is very helpful because:

• Your monthly outgo stays low during the four years of construction
• You are not paying full EMI on a home you cannot yet live in
• You have time to save more money before full EMI kicks in
• Your property value may grow during this period, giving you a better asset by the time possession happens

Several leading banks have approved this project. Here is a comparison of what each type of lender typically offers in 2026.

SBI

• Interest Rate: 7.50 to 8.00 percent for salaried applicants
• Loan Tenure: Up to 30 years
• Key Benefit: Lowest rates in the market for CIBIL 750 and above

HDFC Bank

• Interest Rate: 7.75 to 8.25 percent
• Loan Tenure: Up to 30 years
• Key Benefit: Fast digital approval and strong NRI loan process

ICICI Bank

• Interest Rate: 7.85 to 8.35 percent
• Loan Tenure: Up to 30 years
• Key Benefit: Pre-approved offers for existing customers

Axis Bank

• Interest Rate: 7.75 to 8.30 percent
• Loan Tenure: Up to 30 years
• Key Benefit: Flexible repayment options and step up loan facility

Kotak Mahindra Bank

• Interest Rate: 8.00 to 8.50 percent
• Loan Tenure: Up to 25 years
• Key Benefit: Good for self employed applicants and business owners

Note: Interest rates change over time. Always confirm the current rate directly with your bank before applying.

The loan process is a bit different depending on how you earn your income. Here is what to expect for each group.

Salaried Professionals

• Interest Rate: 7.50 to 8.10 percent for CIBIL score of 750 and above
• Maximum Tenure: Up to 30 years
• Loan to Value: 80 to 90 percent of the agreement value
• Key Documents: Form 16 and last 3 months salary slips
• Advantage: Lower rates and fast digital approvals

Self-Employed and Business Owners

• Interest Rate: 8.25 to 8.75 percent for CIBIL score of 750 and above
• Maximum Tenure: Up to 20 to 25 years
• Loan to Value: 70 to 80 percent of the agreement value
• Key Documents: 3 years of income tax returns and audit reports
• Advantage: Banks assess total surplus income, which can help higher earners qualify for bigger loans

If you are self-employed, it helps to have clean and consistent ITR filings for at least the last three years before applying.

Some buyers find that their individual income is not enough to qualify for the loan amount they need. There are a few ways to fix this.

Add a Co-Applicant

You can add a family member as a co-applicant on your loan. This could be your spouse, a parent, or a sibling with income. The bank then considers both incomes when calculating how much you can borrow.

This is especially useful for buyers looking at larger 3 BHK or 4 BHK units where the loan amount can be Rs 1.5 crore or more.

Ask About Step-Up Loans

Some banks offer step-up loans for young professionals. With a step-up loan, your EMI starts at a lower amount and increases over time as your income grows. This makes it easier to buy a bigger home today without stretching your current budget.

Keep Your CIBIL Score Above 750

Your CIBIL score has a direct effect on your interest rate. A score of 750 or above gets you the best rates. A lower score can mean a higher rate or even rejection.

Check your score before you apply. If it is below 750, take a few months to clear outstanding dues and reduce existing loan balances before applying.

Buying a home at Prestige Golden Grove can also help you save on income tax. Here is how.

Section 24(b): Deduction on Interest Paid

Once you get possession of your home, you can claim a deduction of up to Rs 2 lakhs per year on the interest you pay on your home loan. This applies if you are living in the home.

If you have paid interest during the construction period as well, that amount can be claimed in five equal parts after possession. So the tax benefit does not go to waste just because the home was under construction.

Section 80C: Deduction on Principal Repayment

The principal portion of your EMI can be claimed as a deduction under Section 80C. The maximum limit is Rs 1.5 lakhs per year. This is combined with other 80C investments like PPF and ELSS.

For Investors Who Plan to Rent Out the Property

If you plan to rent out your Golden Grove flat, the tax rules are different. You can claim the full interest paid on the home loan as a deduction against your rental income. There is no Rs 2 lakh cap in this case. This makes it even more tax-efficient for investors.

NRIs can also take home loans for Prestige Golden Grove. Here is what you need to know.

• HDFC and SBI both have dedicated NRI home loan teams
• NRI loans are available in Indian rupees only, not in foreign currency
• Repayment must happen through an NRO or NRE account
• Power of Attorney can be given to a trusted person in India to manage the process
• NRIs typically get the same interest rates as resident Indians with a strong CIBIL score

The loan process for NRIs takes a bit longer due to document verification. Start the process early, ideally before or right after the EOI submission.

Here is a simple sequence to follow.

Step 1: Check your CIBIL score Do this before anything else. You need a score of 750 or above for the best rates.

Step 2: Calculate how much you can borrow Most banks allow a monthly EMI of up to 40 to 50 percent of your take-home salary. Use this to figure out your loan limit.

Step 3: Submit your EOI at Prestige Golden Grove The EOI requires a PDC of Rs 2 lakhs. This locks in your unit and pre-launch pricing.

Step 4: Approach an approved bank Contact SBI, HDFC, ICICI, Axis, or Kotak. Ask for a pre-approval based on the project approval already in place.

Step 5: Submit your documents For salaried buyers: salary slips, Form 16, bank statements, and PAN card. For self-employed: ITR for 3 years, audit reports, and business proof.

Step 6: Loan sanction and disbursement The bank sanctions the full loan amount. It disburses the money in stages as construction milestones are met. You pay Pre-EMI on each disbursement.

Step 7: Full EMI begins at possession Once possession happens in December 2030 or June 2031, your full EMI starts on the complete loan amount.

• Which banks are approved for Prestige Golden Grove home loans?
• SBI, HDFC, ICICI, Axis Bank, and Kotak Mahindra Bank have all approved the project.
• What is the 10:10:80 payment plan?
• You pay 10 percent at booking, 10 percent at agreement signing, and the remaining 80 percent over 28 bi-monthly instalments. The last 80 percent is usually funded through a home loan.
• What is Pre-EMI and when does full EMI start?
• Pre-EMI is the interest on the amount your bank has already released. You pay this during construction. Full EMI begins after you take possession of your home.
• Can I save taxes on my home loan before possession?
• Yes. The interest paid during construction can be claimed in five equal parts after possession under Section 24(b) of the Income Tax Act.
• How long does the loan approval take?
• For buyers applying through approved banks with complete documents, approval can happen in 3 to 5 working days.
• Can NRIs get a home loan for this project?
• Yes. HDFC and SBI both have NRI home loan products. Repayment must be done through an NRO or NRE account in Indian rupees.
• How can I increase my loan eligibility?
• Add a co-applicant with income to your application. You can also ask your bank about step-up loans if you are a young professional expecting income growth over the next few years.
• What CIBIL score do I need for the best interest rate?
• A CIBIL score of 750 or above gets you the best available interest rates, typically between 7.50 and 8.25 percent from most banks in 2026.