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Loan Against Property Eligibility

Generally the eligibility criteria for loan against property is calculated on the basis of market value of the offered property and financial valuation done by credit officers of the financier institution. The income of the borrower is also a major factor while calculating the eligibility. All the Public and Private Sector Banks and other NBFCs have various programs from which they calculate customers’ requirements, and accordingly give out Mortgage Loan based on the eligibility.

In Pune, generally there are three types of properties available,

• NA order,
• Gunthewari property and
• Grampanchayat property.

So eligibility of loan against property is completely dependent on property types. Loan Lenders are providing the amount as per the subjectivity of property type like residential and commercial establishments of the collateral property. Government banks, PSU banks, Private sector banks and other NBFCs which are doing good funding in this segment.

Below, you can check your eligibility criteria for availing Property Loans in Pune. Loan against Property is avail on below given type of properties and funding that you can avail is listed below.

Secured Residential property Secured Commercial approved property
Clear Title Self Occupied – up to 70%
Residential but Vacant – 50%
Tenant/Rented – 60%
Clear Title Self Occupied commercial property – 55%
Commercial but Vacant – 40%
Tenant/ Rented – 50%

Percentage of valuation can be increased or decreased as per comfort on the case by credit offer or as per deviation metrics.

Income Salaried customers Income Self-Employed customers
{(Net Income – Obligation) * 65%} / EMI per Lac {(Net Income – Obligation) * 70%} / EMI per Lac

Banks have designed other programs also for Mortgage Loan, as per the changing market requirements. Currently overall average ticket size in this segments is 2 lac to 10 crore in Pune.

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