SBI - Housing Loan Check List

A)  LOAN ELIGIBILITY:

80 % of (Flat/Agreement cost +service Tax + Vat)for loan upto Rs. 75 lacs and 75 % of flat / project cost for loan above Rs.75 lacs subject to -
EMI / NMI RATIO :
1. 50 % for ANNUAL INCOME between Rs. 3 lacs to rs. 6 lacs
3. 60 % for ANNUAL INCOME between  Rs.6 lacs to 10 lacs
4. 70 % for ANNUAL INCOME above Rs. 10 lacs.

B)  DOCUMENTS TO BE SUBMITTED ALONG WITH LOAN APPLICATION
            1.Copy of Pan card and two passport size photograph
2.Address proof-Electricity bill/Ration card/Employer letter etc.
3. Latest 3 month Salary slips.
4. Statement of account where salary is credited for the last six months
5. Statement of loan accounts, if any, for the last one year
6.Form 16, IT returns for the last two financial year.
7.Assets proof and SBI account at any where.
8.Latest CTC,Joining,Confirmation Letter.

Call Mr. Chavan - 9881402304 - SBI Authorised Counseller for home loan door step service in Pune.

C) PROPERTY RELATED DOCUMENTS:

1.                  Sale Deed / Agreement to sell, Index II, Registration Receipt
2.                  Copy of Approved Plan of proposed construction / house / flat
3.                  Letter of Allotment cum NOC from builder / Society in Bank’s format
4.                  Margin money receipts
5.                  Permission for construction / Commencement certificate from municipal authorities
6.                  Non Agriculture (NA) order from Collector
7.                  Copy of Search Report of Builder’s Advocate
8.                  Copy of Development Agreement
9.                  Copy of Power of attorney given to builder by landlord
10.              Copy of Power of attorney given by builder’s firm to its representative to sign the agreement
11.              Urban Land Ceiling order.(If applicable)

ADDITIONAL DOCUMENTS REQUIRED WHEN OLD PROPERTY IS BEING PURCHASED& TAKEOVER

1) All the original agreements with receipts and Index II in the series
2) Possession Letter, Completion Letter, Tax Paid Receipt, Latest Light Bill.
3) Society Reg.Copy, Share Certificate & Soc.NOC as per Bank format.
4) Valuation certificate from Government approved valuer

TAKEOVER FROM OTHER BANKS :
1)   List of Origional doccuments with other bank.
2)   Last 1 year home loan account statement.
3)   Sanction letter of other bank.
4)   Foreclosure enquiry letter with other bank

CHARGES / EXPENSES REQUIRED TO BE INCURRED BY APPLICANT:

1) Title Search Advocate Fee Rs. 4000/-+ Certified copy fees
2) Valuation Fee, only in case of old property and new loans of Rs. 20 lacs and above, Rs.845/-.
     cheque to be issued favoring  valuer.
3) Processing Fee: Nil/-
            4) Property Insurance from SBI Life Insurance Co. Ltd. (Mandatory), @ Rs.403/- Rupees/Lac for 15           Year Loan, @536/- Rupees/Lac for 20 year Loan and Rs.670/- per Lac for 25 year loan.
5)Home Loan Insurance from SBI LIFE for Applicant/Co Applicant for Home Loan amount (as per chart)
6)Equitable Mortgage Stamp Duty – 0.2 % of Sanctioned Loan amount
7) Other Charges. Rs.5000/- approx.

EMI ( Equated Monthly Installment ) CHART FOR A LOAN OF RS. 1 LAC AT VARIOUS INTEREST RATES :(Interest Rate for Women up to Rs. 1 Crore 9.50 % and For Men 9.55%)
  
TENURE
 INETEREST RATE
  EMI/LAC
10 YEAR
9.5
1294

9.55
1297
15 YEAR
9.5
1044

9.55
1047
20 YEAR
9.5
932

9.55
935
25 YEAR
9.5
874

0.55
877
30 YEAR
9.5
841

9.55
845


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UNIQUE FEATURES OF SBI HOME LOAN


Below are the unique features of State Bank of India Home Loan

1.Lowest interest rate per annum(9.55 % for gents and 9.50 % for ladies presently)

2.Lowest EMI/LAC (Rs.841/Lac for 30 year for Ladies and Rs.845/Lac for 30 Year for Gents)

3.Interest rate charged on Daily reducing balance.

4.Top up Loan available.

5.Maxgain (Overdraft) facility only with SBI.

6.Long Repayment tenure up to 30 years.

7.More benefits under Yuva loans,Loyalty loans and Her Ghar etc.

8.Topmost SBI Brand value.

9.No hidden costs.Full transparency.

10.Zero Processing fee on New/Takeover Loans*

11.No foreclosure charges.


12.Loan insurance (Rinn Raksha Facility) available.

For Loan assistant Please call Mr. Chavan- 9881402304
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Future Pune real estate Market



Greetings......

Future market will be for the town ship projects only, that I think so. One example is that,  If  celestial city is selling the flat at the rate of Rs.3400/- per sq. foot then why other builders for which there are no ammenities are selling the flat at the same rate . and why should we purchase? Living in a single buidling has no point. As per our health & childrens future  consult we have to choose such big projects because we will use jogging track, swimming tank & gym for our health benefit & also Children feels escape to play, Swim. Therefore in Pune real estate marre will be big demand for such projects. Before a decade, People were try to find holiday homes with greenery & went their in holidays. Todays decade a such that everyday everyone should feel like sitting in holidays home. And this is possible only in Such big residential projects like celestial city, woods ville, tropica, River Residency. Thanks to those who are making such a townships in Pune real estate market.

I came to read some interesting article on from Mr. Anil Pharande. Therefore I am sharing here. What I was thinking before 3-4 years was that the same written here.

In Pune, something very new and exciting is happening on the residential real estate market. Where ordinary flats were once the most sought-after type of residential property, the trend is slowly but surely changing to a demand for township properties in PCMC like Celestial city & Woods Ville . The more discerning Punekars of today says that nothing less than the convenience and ambience of a township property will do.



Celestial City



Tropica



River Residency



Who are these people? Mostly representatives of the IT and manufacturing sectors. These, along with some other discerning professionals, have apparently become fed up with the congestion of the inner city, and the lack of amenities in the projects there. They are setting their sights on the spacious, green environment of areas beyond Aundh. Pimpri Chinchwad, with a special focus on the booming market in Pradhikaran properties, is especially in demand.

What is it about these township properties in the PCMC area that makes them so different from other available ones on the Pune property market? Well, one reason is that nothing within the suburbs of Pune can match the bliss of living in a township property. The mantra in these avant-garde resindetial projects in Pimpri Chinchwad is still ‘respect and enjoy Nature’. In the township properties in areas like Moshi and Ravet, green environment is carefully maintained and traffic congestion is unheard-of, despite the proximity of the Express Highway.
The environment is absolutely perfect for families to live in. There is so much demand for these properties that many prominent developers have snapped up prime land exclusively for the building of township properties. Other factors also add to the popularity of these townships – the Expressway, of course, is a vital one. The Expressway is the umbilical cord between Pune other major cities, beginning with Mumbai. In many ways, the Expressway is the lifeblood of Pune’s commercial progress. In addition, the nearby Mumbai-Bangalore Highway brings in further commercial growth and intercity connectivity.
With the kind of investment value that localities along these two major highways get, their popularity comes as no surprise. However, the Expressway has also brought about the existence of the Hinjewadi Infotech Park. The professionals that work there need homes close to their offices, and also privacy and peace in their time away from work. This has been another driving factor behind the township properties mania in the Pimpri-Chinchwad Municipal Corporation area. Obviously, another contributing factor is the Pimpri-Chinchwad industrial belt.
In the not-so-distant past, township properties were a residential genre reserved exclusively for the ultra rich. This has changed drastically with their rising popularity. The fact is, owning a township property in Pimpri Chinchwad has now become a feasible option for Everyman.

Thanks for reading my blog on Pune real estate.


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Forest Hills- Mamurdi-pimpri chinchwad- PCMC,New Project launch during diwali 2011

Greetings.....

Hi, New projects were launched at mamurdi, dehu road, Pune within pimpri chinchwad ( PCMC) limit during diwali.
I am giving here details of the project.

Location of the project is very close to intersection of old pune-mumbai road & bypass dehu- katraj road.

Area of the flat is 826 to 850 sq. foot & prices are in the range of 23-25 lacks.
Rate is Rs. 2391/- per sq. foot. Booking amount is 10%.

Rainbow housing buider is very good & his other projects are Park Royale at wakad, Pebbles at Bavdhan.Possesion is after Dec. 2012.






On the way

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