Construction Loan

What is Construction Loan or Project Finance?

Construction Finance or Project Finance is a unique offering for Developers for the projects they are developing. This is a customized offering built around real estate developer’s depending on the project acquisition and construction cost basis a detailed evaluation of the project. Loan sanctioned to construct or develop a new real estate project including both residential as well as commercial is known as Construction Loan under Project finance department. An individual or a firm or company engaged in the business of real estate development or construction (Builder) can avail this construction finance under Project finance / loan department.

How Business Banking Works:

Business owners and corporate representatives often turn to banks for their business financial needs and receive financial and advisory services tailored to their requirements. These services are typically provided by dedicated departments or divisions within banks or financial institutions specifically for serving business clients. To open a business bank account, you must typically provide relevant documentation such as business licences, articles of incorporation, or articles of organisation.

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Construction Finance features and benefits

Eligibility for Construction Finance:

Construction finance process

Construction Finance Documents can be classified in two Parts

Property Documents -

  1. Project Report
  2. Evaluation Report on format
  3. Legal & Technical verification
  4. Company profile
  5. Past & future Projects
  6. Property Related Documents

Financial Documents-

  1. 3 yrs Financial of the firm (complete set)
  2. 3 yrs individual financial paper (Director/Partner/ Proprietor)
  3. One year bank statement of the Firm
  4. One year bank statement of Director/partner/ Proprietor
  5. All loan sanction letters
  6. KYC of the firm (Gumastha Licensce/Registration certificate)
  7. KYC of the Partners/Directors/Proprietor
  8. Directors Report if PVT LTD
  9. Auditors Report if PVT LTD
  10. MOA/AOA
  11. Share Holding Pattern on company letter head
  12. Annual return with ROC copy
  13. Photographs
  14. Processing fee cheque
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