Loan to promoters

Your partner all the way

This product is meant for corporates who intend to develop land for the construction of morcellements or apartments to be sold to individuals.

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 8.25%*(apr **) 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.
** Annual Percentage Rate.

Documents

  • Proof of identity of promoter/s and representatives of promoters:
    • Birth Certificate/s
    • Identity Card/s
    • Statut de la SociĂ©tĂ©
    • 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 8.25%*(apr **) 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.
** Annual Percentage Rate.

Documents
  • Proof of identity of promoter/s and representatives of promoters:
    • Birth Certificate/s
    • Identity Card/s
    • Statut de la SociĂ©tĂ©
    • 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
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