HOUSING LOANS
We
provide all our customers the facility of processing
their housing loan at no cost. The only charges the
customer has to bear is those that the 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 see section
on 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
- Salary
Certificate
- Pay
Slips – 3 months Latest
- Proof
of Date of Births – (Passport / driving license /
PAN card / SSC)
- Residence
Proof – (Recent Telephone Bill / Gas Bill / Electricity
Bill)
- Last 6 months Bank Statement
- 3
Photo’s of Applicant + 2 photo’s of surety
- Form
– 16 for income tax payers
- 25
Post Dated Cheque Book
- LIC
Policies if any
- Receipts
of amount spent on the flat
- PF
Statement
- 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.
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