1.) What are the basic requirements for Short term bridge loan?
Proof of guaranteed source of repayment has to be submitted,
a) Loan Offer Letter from Banks or Financial Institutions
b) Sale Agreement from builder or other parties for Stop Gap Fund
c) Expecting funds from other sources
All the above mentioned expecting payments and loan offer letters will be verified from the concerned authorities. Based on our satisfaction, loan sanction will be decided.
2.) What is the Maximum term of the loan?
Short term, Min. 1 day to Max. 60 days
2.) Whether loan will be given based on 3rd party collateral security?
No, 3rd Party Collaterals not entertained.
3.) Whether loan will be given for properties outside Chennai city?
No, Only within Chennai city and within Chennai Corporation limit
4.) How long will it take to process the loan?
After getting all relevant documents, loan will be disbursed within 72 hrs
5.) What is the rate of interest charged?
Rate of interest depends on the following factors:
» Value of the property
» Quantum of loan
6.) What is the Minimum and Maximum loan amount?
Minimum Rs.1/- Crore to maximum Rs.10/- crores
7.) Whether long term loan is given?
YES, We can arrange long term loan with Financial Institutions / Banks based upon eligibility and Repaying
capacity , criteria and merits.
8.) What are the documents required?
Parent document, Sale Deed, Encumbrance certificate for 30 years, Approved plan, Patta/Chitta adangal, EB Card, Property tax receipt / Water tax receipt, Aadhaar card/Copy of the PAN card/Pass port or Driving license,or Ration card or voters ID, 3 years Income Tax Acknowledgement and Statement, 1 year bank account statement, Existing loan details - personal loan, If company, Memorandum, Articles of Association, Board Resolution.