Features
Best way to profit from the rising condominium market
Pay only the interest during the construction period
Ability to sell the apartment and replay the capital at your convenience
Option of making unscheduled payments at your convenience without incurring pre settlement charges
Competitive variable interest rates
Eligibility
Be permanently employed with a monthly salary
Be an income tax payer
Be a Businessman of a Professional
Documents Needed
Original title deed of the present owner and any other previous deeds available
Approved survey plan (it should be less than 10 years old if not, a resurvey has to be done and a new plan drawn / licensed surveyor has to endorse on the existing approved plan after the resurvey that the extent of the land and the boundaries are in order) and any other previous plans available
Certificate of ownership of the property | Certificate of non-vesting | Notice of assessment for the current year | Tax receipt of the last quarter
Certificate of Street Line/Building Line (if Street Line/Building Line is not applicable in the said area a certificate from the relevant local authority confirming the same should be obtained)
Approved building plan | Certificate of conformity
Sales agreement/Letter of consent of the seller to sell the property including the sale price
Letter of assurance of vacant possession (if the loan is to purchase a house only)
Letter of kinship (The relationship between the buyer and the seller)
Bill of quantities if the loan is to construct a house
Building permit if the loan is to construct a house
Condominium Deed/Declaration (if applicable) | Approved Condominium plan (if applicable)
Tripartite agreement, Sale & Purchase agreement (if applicable) | Power of attorney (if applicable)
Once the loan is approved a valuation report should be obtained from one of the bank’s panel valuers
If the seller is a company , articles of the Company , Form 20/1 and Certificate of Incorporation