Financing Construction Activities And Housing Projects
| Type of Loan | Term Loan – General |
| Scheme Name | Financing Construction Activities and Housing Projects |
| Purpose | To provide financial assistance to builders and developers for constructing flats, villas, and apartments. |
| Eligibility Criteria | • All new and existing builders and developers in the housing sector. • The project should have a minimum of five residential units. • The project location can be anywhere in Kerala. • Promoters should be financially sound and successful in their other business areas. • Necessary approvals from all concerned authorities must be obtained by the promoters, and copies must be produced along with the application. • Promoters should be prompt in their repayment of existing loans (if any) to Banks/NBFCs/FIs. • The project must be RERA registered. • Sufficient parking space for vehicles, commensurate with the number of residential units, must be provided. |
| Upper Loan Limit | Up to Rs 5 crore. |
| Internal Credit Rating | The applicant must obtain a minimum credit rating of 50%. |
| Promoter’s Contribution | Minimum 33.33%. |
| Moratorium Period | Depending upon the construction period, up to 36 months from the date of the first disbursement. |
| Repayment Period | The loan is repayable in monthly installments for a period not exceeding 6 years, including the moratorium period. |