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Purpose:

A Loan Scheme to individuals for purchase of Housing sites from State Development/Town Planning Development authorities, Central and State Governments local authorities either exclusively or in partnership with private sector entities, or from any other body constituted by the Government for distribution of sites provided such layouts are duly approved by the concerned statutory authority. Housing loan can be availed whenever required for construction of house of the sites purchased.

 

Eligibility:

Confirmed salaried class individuals and businessmen/professional who are in the business for a minimum period of 3 years and whose net annual income is Rs.1 lac or above. For employees Net take home salary should be 40% of the gross salary.

 

Quantum :

Three years gross annual salary/income with a maximum of Rs.15 lacs for properties situated at six metros of Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad and Secunderabad and Rs.10 lacs for properties situated at other centres.

 
 

Margin :
20% on the project

 

Rate of Interest:


PLEASE VISIT OUR PAGE ON RATE OF INTEREST ON PERSONAL LOANS

 

Repayment period:
5 Years

 

Security :
Mortgage of the housing site proposed to be purchased. No Coobligation/personal guarantee will be insisted.

  Processing Charges:
0.5% of the loan amount subject to a minimum of Rs.500/- and maximum of Rs.10000/-.

  Documents/Formalities to be completed

  • Application with 2 passport size phogoraphs

  • Layout/site plan issued by the development authorities.

  • Latest 6 months Salary Certificate/Form No.16 for salaried class and latest

  • ITAO for Businessmen/professionals.

  • Legal Scrutiny Report form Bank’s panel Advocate
  • Allotment letter other any other evidencing purchase/allotment of sites issued by the development authorities.


For details please contact nearest branch of Canara Bank.
   
   
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