Know before you borrow. 💡
Before taking a land or housing loan, understand the full cost of borrowing — not just the interest rate.
According to a joint report by SASRA, KMRC, and FSDKe, mortgage-related closing costs — including legal fees, valuation fees, and stamp duty — can amount to 9–10% of the loan value. That’s a significant sum most borrowers don’t see coming.
What’s driving costs up:
- High interest rates
- Opaque closing costs with little transparency
- Repeated valuation requirements throughout the life of the loan
One more thing worth noting: A common misconception? Expecting lenders to finance and oversee construction — that’s not how it works, and understanding the distinction could save you from costly surprises.
