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Testimonials

SMC has offices throughout India, so we can reach clients efficiently practically anywhere.
Our personalized service and streamlined documentation gets your product to you faster.

Mr. Arvind Pal

Testimonials
SMC has offices throughout India, so we can reach clients efficiently practically anywhere.
Our personalized service and streamlined documentation gets your product to you faster.
Mr. Arvind Pal
Home > Property loans > Construction Finance

Construction Finance

Construction Finance is available to developers / builders who have marketable projects / in area of demand.

 

Types of funding:

  • Construction funding – financing cost of project
  • Discounting of receivables towards flats/ apartments already sold or to be sold
  • Inventory Financing

 

 

FEATURES


  • Loan available to real estate developers / builders
  • For developing and constructing Residential / Commercial Premises
  • In Tier 1 / Tier 2 Cities Tailor made offerings to suit customer needs.
  • Flexible loan repayment terms with Moratorium period for principal and Overdraft facility
  • Loans amounts ranging from Rs.1 crores to Rs.10 crores
  • Tenure depending on project details and sales schedule.

 

BENEFITS


  • Quick turnaround time
  • Professional & transparent approach
  • Customized offerings to suit customer needs.
  • Flexibility in tenor and repayment options.
  • Extensive experience of SMC's Real Estate Advisory in:
    • Marketing of the project (sale/rental)
    • Joint Venture/collaboration, land acquisitions etc.
    • Arranging large funding from banks/Financial Institutions Arranging Bank Guarantees
    • Facilitate tie-ups with banks/HFCs to provide housing finance to customers (home buyers)
 
 
 
For more information
please write to us at
response@smcfinance.com



  • Income / Cash flow to establish source of repayment
  • Detailed evaluation of the project by SMC Finance
  • Projects in Tier 1 and Tier 2 Cities.
  • All projects approvals should be in place.

Processing Fees

From 1% to 3% of the Loan Amount depending upon case to case basis + applicable taxes

Other Charges

Other charges including but not limited to statutory charges such as stamp duty on documentation, Monitoring and Inspection Charges and Quality checking charges etc., as applicable, and any other charges as communicated to the customer from time-to-time by SMC FINANCE are to be payable by the client.

Penal Interest

 

Interest Rate

 

Foreclosure Charges

2% plus applicable taxes

 

  • Application Form
  • Project profile along with detail evaluation.
  • Loan Agreement
  • Mortgage deed related to project land and construction thereon.
  • Guarantee Deed
  • Copy of all statutory approvals regarding project.
  • Income/Cash flow to establish source of repayment
  • FATCA Declaration
  • Other basic documents.
  • Availability of Loan is subject to the feasibility of the project, integrity of the promoters and validity & value of securities to be kept as collateral.
  • All necessary approvals and NOC from various departments and authorities has to be obtained before Loan application.
  • Detail scrutiny about the project and the validity of the security to be kept as collateral, will be done by SMC Finance before disbursement of loan amount.

What is Application Funding?

Application funding means the earnest money needs to deposit at the time of booking residential plots/ built-up houses/ flats being sold by Govt. Housing Agencies, Urban Development Authorities like DDA, GDA, HUDA and other Housing Boards under affordable housing schemes through auction / bidding process.

 

What is the maximum Loan amount one can avail?

In application financing, SMC Finance will fund upto 100% of the application money.  However, applicable margin needs to be deposited upfront along with the interest.

 

Does any security need to be created for availing Application Funding Scheme?

No, for availing Application Funding Scheme there is no requirement of creating any kind of security.  However, SMC Finance would have lien on the property allotted and first right on the refunds of application money.

 

What is the Tenure of this Application Fund Loan Amount?

The Application Fund Loan Amount is granted for 3 (Three) months. The Application Fund Loan amount should be repaid within 3 months. After 3 (Three) months penal interest @ 18% will be levied on outstanding amount.

 

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For more information
please write to us at
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img1
Construction Finance

Construction Finance is available to developers / builders who have marketable projects / in area of demand.

 

Types of funding:

  • Construction funding – financing cost of project
  • Discounting of receivables towards flats/ apartments already sold or to be sold
  • Inventory Financing

 

 

Testimonials

SMC has offices throughout India, so we can reach clients efficiently practically anywhere.
Our personalized service and streamlined documentation gets your product to you faster.

Mr. Arvind Pal

Testimonials
SMC has offices throughout India, so we can reach clients efficiently practically anywhere.
Our personalized service and streamlined documentation gets your product to you faster.
Mr. Arvind Pal
FEATURES

BENEFITS
 

ELIGIBILITY


  • Income / Cash flow to establish source of repayment
  • Detailed evaluation of the project by SMC Finance
  • Projects in Tier 1 and Tier 2 Cities.
  • All projects approvals should be in place.

SERVICE CHARGES


Schedule of Charges: - Fees and Charges

Processing Fees

From 1% to 3% of the Loan Amount depending upon case to case basis + applicable taxes

Other Charges

Other charges including but not limited to statutory charges such as stamp duty on documentation, Monitoring and Inspection Charges and Quality checking charges etc., as applicable, and any other charges as communicated to the customer from time-to-time by SMC FINANCE are to be payable by the client.

Penal Interest

 

Interest Rate

 

Foreclosure Charges

2% plus applicable taxes

 

DOCUMENTATION


  • Application Form
  • Project profile along with detail evaluation.
  • Loan Agreement
  • Mortgage deed related to project land and construction thereon.
  • Guarantee Deed
  • Copy of all statutory approvals regarding project.
  • Income/Cash flow to establish source of repayment
  • FATCA Declaration
  • Other basic documents.

TERMS & CONDITIONS


  • Availability of Loan is subject to the feasibility of the project, integrity of the promoters and validity & value of securities to be kept as collateral.
  • All necessary approvals and NOC from various departments and authorities has to be obtained before Loan application.
  • Detail scrutiny about the project and the validity of the security to be kept as collateral, will be done by SMC Finance before disbursement of loan amount.

FAQS


What is Application Funding?

Application funding means the earnest money needs to deposit at the time of booking residential plots/ built-up houses/ flats being sold by Govt. Housing Agencies, Urban Development Authorities like DDA, GDA, HUDA and other Housing Boards under affordable housing schemes through auction / bidding process.

 

What is the maximum Loan amount one can avail?

In application financing, SMC Finance will fund upto 100% of the application money.  However, applicable margin needs to be deposited upfront along with the interest.

 

Does any security need to be created for availing Application Funding Scheme?

No, for availing Application Funding Scheme there is no requirement of creating any kind of security.  However, SMC Finance would have lien on the property allotted and first right on the refunds of application money.

 

What is the Tenure of this Application Fund Loan Amount?

The Application Fund Loan Amount is granted for 3 (Three) months. The Application Fund Loan amount should be repaid within 3 months. After 3 (Three) months penal interest @ 18% will be levied on outstanding amount.

 

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