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Construction Loan

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Construction Loan

We provide assistance to avail construction loan to build residential accommodation. Financial Institutions sanction & disburse such loans phase wise starting from purchase of land to completion of the house on the basis of terms & conditions offered by them. In those cases a cost estimate of construction of proposed building prepared by a qualified Architect is required; in addition cost of land is also required incase loan is required to purchase the land also.

Generally such loans are disbursed in 4 to 5 phases or more according to the volume of the work as well as fund requirement . For loan against purchase of land; a customer has to submit ' Agreement for Sale ' ( Registered ) for the proposed land. After purchase of land construction loan is disbursed phase wise according to the required progress of work as per terms . In all stages borrowers contribution is required as per sanctioned terms. At least 15 to 20% of required fund ( construction cost ) has to arrange by the borrower remaining 80 to 85 % maximum may be financed by the FIs.

First we arrange to get the total loan amount sanctioned in favour of our customers for which all sorts of services are extended by us and it is continued till completion of construction work . In this course ; we help to fill up the Loan Application Form properly ,arrange required documents, work as mediator between the customer & FIs.

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