Loan For Commercial Real Estate
If you are looking to construct property for commercial activity this is the loan for you
Purpose
- For construction of any property housing buildings, hotels, restaurants, gymnasiums, condominium , shopping malls, office blocks, theaters, amusement parks, ware houses which is intended to be sold or given on lease
Who Can Borrow
- Individual Applicant in the age group of 21 to 60 years.
- Commercial establishments i.e. partnership firms/ Pvt. Limited co./Limited Cos. etc
Loan Amount
- Maximum Rs.10 crore
- Minimum of Rs.10 Lac.
Repayment
- Maximum 10 years *
- *Extendable upto 15 yrs at bank’s discretion
Rate Of Interest
- The rate of interest as decided by the bank from time to time would be applicable.
Security
- Equitable mortgage of property
Margin
- Minimum 25%
Guarantors:
- Two guarantors of well placed means acceptable to the Bank.
Processing Charges
- 1% of the loan amount + GST
Share Holding
- 1.50% of the loan amount.
Documents Required
- Photograph , PAN and KYC documents of borrower and guarantor
- Balance Sheet of last three years, ITR of last three years, Bank statement of business a/c for last six months.
- Partnership deed and registration certificate in case of partnership firms, Certificate of incorporation, date of commencement of business and memorandum and article of association in case of companies where applicable
- Relevant documents related to the property being mortgaged like Title Deed, mutation copy, sanctioned map etc as applicable)
- Project report/ financial viability of the project duly certified by the CA.