This product is meant for corporates who intend to develop land for the construction of morcellements or apartments to be sold to individuals.
Your partner all the way
Purposes
- Construction of residential apartments, houses or bungalows
- Purchase of residential land and construction of residential complex
Eligibility
Individual Promoters, Companies or Sociétés legally authorised to undertake residential developments.
Features
- Loan Amount: based on project costs
- Interest Rate: as from 8.40%* fluctuating with the Repo Rate
- Repayment Term: 5 years - Negotiable for longer periods.
- Mode of Repayment: partly from sale proceeds
- Security: Charge/Mortgage on residential complex
* Conditions apply.
Documents
- Proof of identity of promoter/s and representatives of promoters:
- Birth Certificate/s
- Identity Card/s
- Statut de la Société
- Certificate of Incorporation
- Shareholding Structure
- Other documents:
- Title Deed
- Memo of Survey
- Architectural and Engineering Plans of Residential Complex
- Development and Building Permits
- Feasibility Report amongst others: value of land/ property, cost of project, project funding, projected cash flow, project duration, marketing plan and past experience of promoter
- Last audited accounts of promoter
- Bank Account statements for last 12 to 24 months and Income Tax Return for last 3 years.
Note: Any other required details will depend on the profile of promoter/s.
Fee structure
| Application Fee | : | Rs 5,000 payable upon registration of application for a mortgage loan |
| Handling Fee | : | 0.5% of loan amount |
| Monthly Service Charge | : | Rs 100 |
| Fixed Charge Fee | : | 0.5% of loan amount |
Purposes
- Construction of residential apartments, houses or bungalows
- Purchase of residential land and construction of residential complex
Eligibility
Individual Promoters, Companies or Sociétés legally authorised to undertake residential developments.
Features
- Loan Amount: based on project costs
- Interest Rate: as from 8.40%* fluctuating with the Repo Rate
- Repayment Term: 5 years - Negotiable for longer periods.
- Mode of Repayment: partly from sale proceeds
- Security: Charge/Mortgage on residential complex
* Conditions apply.
Documents
- Proof of identity of promoter/s and representatives of promoters:
- Birth Certificate/s
- Identity Card/s
- Statut de la Société
- Certificate of Incorporation
- Shareholding Structure
- Other documents:
- Title Deed
- Memo of Survey
- Architectural and Engineering Plans of Residential Complex
- Development and Building Permits
- Feasibility Report amongst others: value of land/ property, cost of project, project funding, projected cash flow, project duration, marketing plan and past experience of promoter
- Last audited accounts of promoter
- Bank Account statements for last 12 to 24 months and Income Tax Return for last 3 years.
Note: Any other required details will depend on the profile of promoter/s.
Fee structure
| Application Fee | : | Rs 5,000 payable upon registration of application for a mortgage loan |
| Handling Fee | : | 0.5% of loan amount |
| Monthly Service Charge | : | Rs 100 |
| Fixed Charge Fee | : | 0.5% of loan amount |
