Loan Against Property in Mumbai
Loan Against Property or LAP, is a home loan advance against private, business or industry property, which help organizations meet their money related needs in meeting necessities like working capital, capex plans, apparatus buy, merchant installments and so forth.. This is a standout amongst the most ideal approaches to fund your business and develop. We help endeavors develop with Loan against property where we guarantee greatest conceivable advance sum with better financing costs and residency dependent on your qualification.
You can take LAP on commercial and residential property. The property in question must be owned by you so as to get the loan sanctioned. It can be taken on a piece of land you own and even in few cases properties that are under construction. Banks will consider a lot many factors, especially property valuation, legal clearances to it, before sanctioning the loan amount.
Loan Against Property Documents List:
Based on your business or profession various sets of documents are required to avail LAP.
The documents required for loan against property are as below:
For salaried individuals:
- Proof of identity and residence proof such as Aadhaar Card, Voter ID Card
- Salary slips of past 3 months
- Form-16 issued by current employer
- Bank statements of salary account for the previous six months
- A cheque covering the administrative costs/processing fees incurred by the bank in processing the application
For Self-employed Businesspersons:
- Proof of identity and residence proof
- Educational qualification certificates, degrees, diplomas, and other academic credentials
- IT Returns of the three years preceding the one in which loan is applied for
- Bank statements of six months preceding the one in which loan is applied for
For Self-employed Professionals:
- Identity and Address proof documentation
- Certificates that prove your academic qualifications/credentials
- All registration/licensing certificate pertaining to your profession
- Business existence proof/business profile details
- Previous 3 years’ balance sheets as well as Profit & Loss Statement of the company.
- Acknowledged Income Tax statements of the company and self for previous 3 years
- Last 6 months’ bank statement.
FAQs on Loan Against Property:
What are the Benefit of Loan against Property?
You can profit of Loan against Property against Residential, Commercial and Industrial Property for either your own or business exercises other than theoretical or nonrestrictive exercises.
How eligibility for Loan Against Property is calculated?
LAP eligibility depends on various items like for example, salary, age, capabilities, number of dependants, life partner’s wage, resources, liabilities, security and congruity of occupation and funds history. In case of business turnover, profit, depreciation, partners or directors salary, nature of business, existing liabilities etc.. are taken into account to arrive at eligibility.
Who can become a co-applicant to the loan against property?
You can embrace your significant other as a co-applicant for the Loan. His / her financial gain are often accessories to boost the loan quantity. but all co-owners of the property ought to essentially be the co-applicant.
What is the tenure available for repayment?
You can reimburse the credit over a most extreme time of 15 years in some cases we can get it arranged for even 20 years based on your age and eligibility. Reimbursement won’t usually be stretched out past the time of retirement (on the off chance that you are utilized) or on your achieving 60 years of the age, whichever is prior. Still we try to find a suitable lender in some exceptional cases for example for self employed.
What is the maximum loan amount possible?
We work with all financial institutions hence, based on your eligibility and requirement we possibly fund even upto 100 of the value of the property in some cases. Usually it varies from 50% to 80% based on the nature of the collateral offered and nature of business and profession one engaged into. Along with other parameters like credit health, borrowing ability, purpose etc… add value in offering a best deal.
We help Business to raise Loan Against Property based on industrial, commercial and residential properties even based on land. Our ticket size is around 10 crores to 200 crores across industry verticals. Our edge is in offering lowest possible interest based deal with maximum possible tenure in the quickest time possible.
If you have any questions feel free to reach us, our team shall be happy to help you…
Contact: Redwood Syndicate Capital Advisors: For Loan Against Property from 10 Crore to 200 Crores.
Loan Amount is 260000
No. of Month is 36
Rate of Interest [ROI] is 10.2
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