RMGB Reality Home Loan Scheme
RMGB Reality Home Loan Scheme – For Purchase of a residential plot located within the municipal/corporation area of Urban/semi urban centres and Purchase of Plots located outside municipal/corporation area will be permitted only in cases where the plots are allotted/developed by Government Bodies/Development Authorities.
- Loan Amount:Minimum: Rs. 2 lac & Maximum: Rs. 2 Crore
- Total project cost will include the development cost charged by the Developer towards preparation of layout and to provide common amenities like roads, water supply, drainage, electricity, parks, recreation facilities etc., onthe basis of agreement executed by the Promoter/Developer with the buyer and subject to Bank’s approved valuer certifying the valuation thereof. However, the project cost will not include stamp duty,registration charges and other documentation charges.
- Borrowers opting for Home Loans for construction:Home Loans for a consolidated amount i.e. outstanding in RMGB Realty account and also for construction of house will be sanctioned to the customers, who intend to construct house on the open plot financed by us. The outstanding in RMGB Realty account will be first liquidated through disbursement from Home Loan and remaining amount will be disbursed for construction of house in phases linked to the stages of construction. The interest rate on consolidated Home Loan will be charged at prevailing Home Loan card rate as on date of sanction of consolidated loan amount. This facility will be available, both during the first 2 years and also subsequent 5 year periods, provided conduct of Realty Loan account is satisfactory. All other norms in respect of our Home Loan scheme will be applicable for sanction of Home Loan for construction of a house.