In a world where the dream of owning a home is a profound sentiment for many, the journey to homeownership is not always a smooth one.
India, home to the world's largest LGBTQIA+ community, houses around 135 million individuals who identify with diverse gender identities, constituting 10% of the country's population*. While India has made strides in recognizing LGBTQIA+ rights, there remains a gap in providing full rights to this community.
Home buying, especially for same-sex partners, presents unique challenges. Godrej Capital, with its commitment to diversity, equity, and inclusion (DEI) at the core of its operations, understands the significance of addressing these challenges. No one should be denied the opportunity to turn their dream home into a reality. Every individual, regardless of gender or sexual orientation, deserves the warmth and security of a home. Showcasing a strong commitment to this belief, Godrej Capital introduced an industry-first initiative – the Home Loan for Same-Sex Partners
The Landscape of Home Buying for Same-Sex Partners:
The year 2018 marked a significant milestone as the Supreme Court of India decriminalized homosexuality. Yet, the legal landscape surrounding same-sex marriages remains a work in progress. Given the non-recognition of LGBTQ+ partners under various succession laws in India, many financial institutions have hesitated to extend home loans to same-sex couples. Even though India, a country rich in cultural diversity, has taken steps towards recognizing and acknowledging the LGBTQ+ community's rights, there are still gaps that need to be bridged.
Godrej Capital's DEI Initiative:
At Godrej Capital, diversity, equity, and inclusion are not just corporate buzzwords; they are intrinsic values that guide our business operations. It is our belief that every individual deserves the right to own a home, irrespective of their gender or sexual orientation. Our commitment to creating an inclusive environment goes beyond rhetoric – it is reflected in tangible initiatives that address the unique needs of our diverse customer base.
Godrej Capital's Home Loan for Same-Sex Partners:
The aspiration of owning a home is a thread that weaves together moments of joy, security, and shared dreams. It's an emotion that transcends societal norms and expectations, touching the very core of our being. Godrej Capital’s Home Loan for Same-Sex Partners is not just a financial offering; it is a pledge to break down barriers and empower same-sex partners to embark on their homeownership journey.
Key Features of Home Loans for Same-Sex Partners:
Competitive Interest Rates - Commencing at 8.55%:
The initiation of our home loan offering introduces applicants to a highly competitive interest rate structure, demonstrating our commitment to alleviating the financial strain on same-sex couples embarking on their homeownership journey.
Generous Loan Limits - Up to 10 Crores:
Godrej Capital is attuned to the diverse aspirations of same-sex couples. Hence, our home loan program extends substantial loan limits, providing couples the financial latitude to choose homes aligned with their dreams and lifestyles.
Expedited Sanctions and Disbursals:
Recognizing the time sensitivity inherent in the home-buying process, Godrej Capital stands out for its efficiency in providing prompt sanctions and disbursals. Applicants receive loan eligibility confirmation within a mere 24 hours, streamlining the path to homeownership.
Extended Loan Tenures - Up to 30 Years:
Consciously addressing the need for manageable monthly payments, Godrej Capital offers extended loan tenures of up to 30 years. This extended tenure not only reduces the monthly EMI burden but also provides borrowers with the flexibility to structure their loans according to their financial goals.
Customizable EMIs -Flexible Repayment Structures:
Personalization takes center stage in our offering. The home loan for same-sex partners from Godrej Capital provides a high degree of flexibility in repayments. Borrowers can tailor their repayment schedules to align with their unique financial goals, opting for interest-only payments for select quarters or up to 12 months. By allowing applicants to design their own EMIs, we empower them to reduce the monthly EMI burden and experience unparalleled convenience.
Full Moratorium - Up to 12 Months:
Anticipating unforeseen circumstances, Godrej Capital extends a full moratorium of up to 12 months. This feature offers temporary relief during challenging times, acknowledging the dynamic nature of life and financial circumstances.
Semi-Fixed Interest Rate - Fixed for 3 Years:
Stability is paramount in our commitment to borrowers. Godrej Capital offers semi-fixed interest rate on home loans, affording borrowers predictability in the crucial initial three years of the loan, providing a secure foundation for financial planning.
Parallel Funding for Down Payment Ease:
At Godrej Capital, we understand that the down payment is a pivotal aspect of home purchases. To alleviate the financial burden, we offer innovative down payment options such as Parallel Funding. This approach allows borrowers to make down payments in parts on a pro-rata basis, ensuring that the homebuying process remains financially manageable.
Godrej Capital's Home Loan for Same-Sex Partners is not just a product; it's a response to a genuine need in today's world. In offering a financial solution tailored to the unique needs of same-sex couples, Godrej Capital showcases its commitment to diversity, equity, and inclusion as not just a part of its ethos but the guiding force behind every product and service it offers.
As same-sex couples embark on their journey towards homeownership, Godrej Capital stands as a partner, affirming their dreams and providing the support needed to turn those dreams into a reality. Because together, we build a future where every individual, regardless of their sexual orientation, can proudly call a house a home.
*Source: The Times of India
The contents of this article are for information purposes only & not a financial advisory. For more details, please refer to the product or service document and/ or connect with our customer representative prior to making any financial decision. The information is subject to update, completion, revision, and amendment and may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Godrej Capital or its Affiliates to any requirements. Godrej Capital or its Affiliates shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
Financing through Godrej Housing Finance Limited. Product Terms & Conditions apply, for details visit https://www.godrejcapital.com/our-products/home-loans