MJR-Platina Multistorey Apartments Area Range 1030-1649 Sq.ft Located off Hosur Road, Bangalore available with 2BHK Apartments and 3BHK Apartments.
Description:
Platina, as the name suggests, is a rare habitat. One that deserves you. It’s a reflection of your passion for a refined lifestyle. Set in an idyllic 2.7 acres, Platina has everything you could ask for. Less than 3 km from Central Silk Board on Hosur Road, this extraordinary edifice is an ode to a way of life that is more than extraordinary. It’s a way of life we call platinum. Rare, refined and sophisticated. Or should we simply say, welcome to Platina.
Amenities:
Buying a property necessitates in depth knowledge of realestate and choosing the right kind of loans. Several banks are stepping up
their exposure to real estate. These banks are entering into agreements with
builders for real estate loans. The scheme mainly caters to builders /promoters / developers of real estate. According to RBI figures loans to
builders, along with retail credit (like home loans, credit cards and personal
loans) constitute a big chunk of banks total loan portfolio.
Banks normally give real estate loans to builders / realestate developers of repute. Experience of3-4 years is a must to avail the
loan. The quantum of loan is decided after scrutinizing the financial
statements and cash flow statement of the applicant. The maximum amount of loan
varies from case to case and from bank to bank. Repayment is done in lump sum
installment after the completion of project / selling of the flats. The number
of installments is restricted to 3 to 4.
Interest Charged by Banks on Real Estate Loans
The interest rate is normally determined and charged
according to the prime lending rate of the bank. Builders can either opt for a
fixed or floating rate of interest.
Process of Loans Applications
Builders / real estate developers can fill up the loan
application either in person or utilise online facilities and apply for loan. A
nominal processing fee is charged by the banks.
1. Application form with photograph affixed thereto.
2. Copies of certificates Educational qualifications.
3. Residence proof
4. Proof for existence of business and business profile with
last three years income tax return.
5. Last 3 years income and expenditure statement and balance
sheet.
6. Last 3 months personal and business bank statements.
Terms and conditions of loan may vary from bank to bank.
Mortgage loans
Banks provide loans against mortgage of property.
Businessmen, self employed professionals, salaried persons are all eligible to
apply for the loan. It enables the borrower to apply for loan against a fixed
asset.
Maximum amount of mortgage loans granted
The maximum amount of loan depends on a number of factors,
like customer's profile, his financial status and repaying capacity, tenure of
the loan etc. The repayment tenure increase or decreases with the quantum of
loan. Repayment of loan shall be made through Equated Monthly Installments or
EML.
Interest Charged by Banks
Interest is charged at the predetermined rate as per the
terms and conditions. Interest can be either on fixed or floating rate basis.
Interest rate can be discounted for existing clients and in special cases
according to the policies of the bank.
Process of Mortgage Loan Applications
Customers can apply for mortgage loans by filling an online
form. They can also visit the nearest branch of a particular bank. Normally,
banks charge 1-2% of the actual loan amount as processing fee.
Documents required for approval of mortgage loans Salaried
Individuals
1. Proof of identity (passport copy I voters ID card I
driving license)
2. Address proof (ration card Tel I Elect. Bill, passport
copy)
3. Bank statements (latest 6 months bank statement I
passbook)
4. Latest salary slip of current dated salary certificate
with latest form 16 under Income tax Act, 1961.
5. Proof of ownership of fixed asset being mortgaged.
Self employed professionals and businessmen
1. Proof of identity (passport copy I voters ID card I
driving license)
2. Address proof (ration card Tel I Elect. Bill I passport
copy)
3. Bank statements (latest 6 months bank statement I
passbook)
4. Latest IT return along with computation of income, B/S
& P & L alc for the last 2 years duly certified by a chartered
accountant.
5. Qualification proof of the highest professional degree.
6. Proof of continuation of business(Trade license I
establish- ment I sales tax certificate)
7. Other mandatory documents (sole proprietorship.
Declaration. Or certificate, copy of partnership deed, Cert. copy of MOA, AOA
& Board resolution.)
8. Proof of ownership of fixed asset being mortgaged.
Real Estate Properties are available in Bangalore City.......
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