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Eligibility
Real Estate Group having good track record of profit in last 3 years. Firm putting-up project should be Private Limited Company or Limited Company
Purpose
Development of Shopping Mall / Multiplex / Township Projects
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Nature of facility
Term Loan
Quantum of finance
Maximum 50% to 55% of cost of the project including cost of land.
If land is already purchased, 75% of the cost of project excluding land but land will be treated as promoter’s contribution
Loan Amount
INR 5 Crores to 100 Crores
• FCNR Options are available through Nationalised Banks.
• ECB can be made available for Township Projects
Rate of Interest
Competitive rates based on credit rating of proposal
Security
Prime Security:
First charge over all fixed assets of the project.
Collateral Security:
• For Project cost Less than 30 crores : 35% of loan amount sanctioned. Security required in form of Non-agricultural land / residential / commercial property.
• For Project cost more than 30 crores : requirement of collateral security may be reduced.
Processing charges
As per bank’s norms
Repayment
• 12 months moratorium + 36 months repayment thereafter for projects other than township project.
• 24 months moratorium + 60 months repayment thereafter for township project s.
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