by Financing, CMDA Plots, and Chennai’s 80% Loans
Buying your first home in Chennai is more than just a real estate transaction; it is a legacy you build for your family. As Chennai evolves into a mega-city with the expansion of the Metro Phase II and the development of the Peripheral Ring Road, the opportunities for first-time buyers have never been better. However, the complexity of legal approvals and home loan structures can be daunting.
At Raj Housing, we believe that transparency is the foundation of a happy home. In this comprehensive guide, we walk you through the three pillars of a smart purchase: Legal Approvals, Financial Planning, and Strategic Location.
1. The Legal Gold Standard: Why CMDA Approval Matters
In the Chennai Metropolitan Area, you will often hear two terms: CMDA and RERA. For properties within the city limits and its immediate suburbs (like Poonamallee and Senneerkuppam), CMDA (Chennai Metropolitan Development Authority) approval is essential.
Why you should never buy unapproved plots:
Many first-time buyers are tempted by “Panchayat approved” plots because of their lower price points. However, these are often legally risky.
- Infrastructure Guarantees: CMDA-approved layouts must allocate specific percentages of land for public parks, wide roads (minimum 9 meters), and community spaces.
- Resale Value: A CMDA-approved property appreciates at a significantly higher rate. In 2026, savvy investors and second-time buyers will only look at properties with a clear PPD (Pre-Planned Development) number.
- Utility Connections: Getting a legal electricity connection, water supply, and sewage line is seamless with CMDA documentation but a nightmare without it.
2. Navigating the 80% Home Loan Landscape
One of the most common questions we receive at Raj Housing is: “How much can I actually borrow?” For 2026, the Indian banking sector has streamlined the process for first-time buyers. Most leading banks—including SBI, HDFC, and ICICI—offer a Loan-to-Value (LTV) ratio of up to 80% for residential properties.
Breaking Down the Costs
If you are eyeing a property worth ₹50 Lakhs:
- Bank Contribution (80%): ₹40 Lakhs.
- Your Down Payment (20%): ₹10 Lakhs.
Pro-Tip for First-Time Buyers: Remember to factor in “hidden” costs such as registration fees (currently 7% for Sale Deed and 2% for Construction Agreement in TN), stamp duty, and legal processing fees. These usually fall outside the 80% loan amount, so your actual savings should cover roughly 25-30% of the total cost.
How to Guarantee Your Loan Approval:
- Check Your CIBIL Score: A score above 750 is the “sweet spot” for getting the lowest interest rates.
- FOIR (Fixed Obligation to Income Ratio): Banks generally ensure that your total EMIs do not exceed 50% of your monthly take-home pay.
- Choose Approved Projects: Banks often “pre-approve” projects by builders like Raj Housing, which speeds up your loan sanctioning time to as little as 48-72 hours.
3. Why Poonamallee is the “New Center” of Chennai
Location is the most critical factor in real estate appreciation. For first-time buyers in 2026, Poonamallee and Senneerkuppam have emerged as the top choices.
- Connectivity: The upcoming Metro Rail connectivity will link Poonamallee directly to the heart of the city (Light House and IT corridors).
- Industrial Hubs: Proximity to the Sriperumbudur and Oragadam industrial belts makes these areas high-demand rental zones.
- Social Infrastructure: With prestigious schools, multi-specialty hospitals like Savitha, and shopping malls nearby, your quality of life is guaranteed.
4. The Raj Housing Advantage
At Raj Housing & Estates Pvt Ltd, we don’t just sell plots; we deliver peace of mind. Our projects, such as Raj Majestic Town, are meticulously planned to meet the highest standards of urban living. Every plot we offer is 100% CMDA-approved, RERA-registered, and ready for immediate construction.
Our Commitment to You:
- Clear Titles: Every project undergoes a 30-year legal scrutiny.
- On-Site Development: We provide black-topped roads, gated security, and landscaped gardens before we hand over the keys.
- Loan Assistance: We have dedicated tie-ups with major banks to help you secure that 80% financing effortlessly.
Visit Our Site Today
Experience the difference of a premium layout. We invite you to visit our office and site locations to see your future home in person.
Raj Housing & Estates Pvt Ltd 70/7, P.H. Road, Senneerkuppam, Poonamallee, Chennai – 600 056.
Contact Our Experts
Ready to make your move? Our consultants are available to help you with site visits and loan eligibility checks.
- Call/WhatsApp: +91 95515 99499 | +91 95516 99499
- Direct Line: +91 99949 92415
- Email: salesrajhousing@gmail.com
- Explore Our Projects: www.rajhousing.co.in
