Modi Builders

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HOUSING LOANS

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.

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

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.

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

AMOUNT OF HOUSING LOAN

Employees

	60 times monthly net income if under 45 years of age
	48 times monthly net income if over 45 years of age

Business Persons

	4 times annual income as reflected in IT return if under 45 years age
	3 times annual income as reflected in IT return if over 45 years

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.

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.

DOCUMENTS REQUIRED FOR SALARIED PEOPLE

1	Salary Certificate
2	Pay Slips - 3 months Latest
3	Proof of Date of Births - (Passport / driving license / PAN card / SSC)
4	Residence Proof - (Recent Telephone Bill / Gas Bill / Electricity Bill)
5	Last 6 months Bank Statement
6	3 Photo's of Applicant + 2 photo's of surety
7	Form - 16 for income tax payers
8	25 Post Dated Cheque Book
9	LIC Policies if any
10	Receipts of amount spent on the flat
11	PF Statement
12	Approx Eligibility - (below 35 years age Net Salary x 60 Times and above 45 years age Net Salary x 45 times)

Note : for Private Limited Companies, Employee's PF is compulsory

DOCUMENTS REQUIRED FOR BUSINESS PEOPLE

	IT Returns with Computation
	Profit & Loss Account of Firm
	Residence Proof
	Last 6 months Bank A/c
	5 Photo's of Applicant & photo's of Surety
	LIC policies, Assets Proof
	Approx Eligibility - (Net yearly Income x 3 times)

GUARANTOR

	Net Salary greater than or equivalent to EMI.
	Service left over should be equivalent to tenure of the loan.