We provide all our customers the facility of processing their housing loan at no cost. The only charges that the customer has to bear is bank charges. Our projects are approved at all the banks given below. Our executives will provide complete assistance to complete the housing loan paperwork. |
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| BANKS/ FINANCE COMPANIES |
| The following banks have legally approved the project |
| Axis Bank |
| State Bank of India |
| Kotak Mahindra Bank |
| ING Vysya Bank |
| LIC Housing |
| IDBI Bank |
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Any customers who purchase a house/apartment may approach any of the above banks for housing loans. Customers who wish to apply at any other banks may do so and legal documents of the project will be provided if required. |
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| HOUSE LOAN ELIGIBILITY |
All individuals who are self employed or employees are eligible for housing loans subject to the fact that they can produce all the required documents. Please refer Documents required section |
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| AMOUNT OF HOUSING LOAN |
| Employees |
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60 times monthly net income if under 45 years of age |
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48 times monthly net income if over 45 years of age |
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| Business Persons |
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4 times annual income as reflected in IT return if under 45 years age |
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3 times annual income as reflected in IT return if over 45 years |
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| HOUSING LOANS FOR NON-RESIDENT INDIANS |
Non -Resident Indians can avail housing loans from banks operating in India/Hyd very easily. The procedure is very simple. They must provide all the housing loan documents and also execute a simple Power of Attorney in favor of any of their relative/friends located in India to do the documentation here. |
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For further details and any clarifications please do not hesitate to call us ( Home loans Dept) on 91-40-6633 6633 / 91-40-66 333 111 or email to hl@modibuilders.com. |
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| DOCUMENTS REQUIRED FOR SALARIED PEOPLE |
| 1. |
Salary Certificate |
| 2. |
Pay Slips - 3 months Latest |
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Proof of Date of Births - (Passport/driving license/PAN card / SSC) |
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Residence Proof - (Recent Telephone Bill/Gas Bill/Electricity Bill) |
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Last 6 months Bank Statement |
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3 Photo's of Applicant + 2 photo's of surety |
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Form - 16 for income tax payers |
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25 Post Dated Cheque Book |
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Receipts of amount spent on the flat |
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PF Statement |
| 11. |
Approx Eligibility - (below 35 years age Net Salary x 60 Times and above 45 years age Net Salary x 45 times) |
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| Note: - for Private Limited Companies, Employee's PF is compulsory |
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| DOCUMENTS REQUIRED FOR BUSINESS PEOPLE |
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IT Returns with Computation |
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Profit & Loss Account of Firm |
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Residence Proof |
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Last 6 months Bank A/c |
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5 Photo's of Applicant & photo's of Surety |
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Approx Eligibility - (Net yearly Income x 3 times) |
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| Guarantor |
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Net Salary greater than or equivalent to EMI. |
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Service left over should be equivalent to tenure of the loan. |
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