Mr. Arvind Pal |
 |
Construction Finance is available to developers / builders who have marketable projects / in area of demand.
Types of funding:
|
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 |
As agreed |
|
Interest Rate |
As agreed |
|
Foreclosure Charges |
2% plus applicable taxes |
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.
Construction Finance is available to developers / builders who have marketable projects / in area of demand.
Types of funding:
Mr. Arvind Pal |
|
|
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 |
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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