| Scheme
for Financial Assistance for Housing Villas and Apartment Complexes
Eligibility
1.Firm/Corporation
, in operation for last 5 years and has completed construction of
at least 5 housing ,villas and apartment complexes.
2.Rising
turnover and proven profit record at least for 3 cosecutive years.
3.An I.T . Assessee without overdues
4.Prompt
in repayment to FI/Banks
5.Sanction selectively for good clients
Maximum
Loan Amount
50
% of estimated requirement of projects subject to max. of Rs.10
crores for
corporate sector and Rs.4 crores for proprietory and firms. Loan
should not exceed 50% of average sales in previous 3 years
Minimum
promoters contribution
50
% of cost of projects. Total value of land
to be reckoned for cost of projects and security
Loan
repayment period
Maximum
5 years with 2 years moratorium
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