welcome to Orange City Housing Finance Ltd
About Construction
Finance To Builders
Finance can be availed by Builders immediately & effortlessly through the OCHFL Home Loans.
Amount of Loan
A builder/developer can avail a home loan of up to ₹1 crore, with a maximum Loan to Cost Ratio (LCR) of 75%. At the time of the first disbursement, the security cover must be 1.5 times the loan amount. Interest payments must be serviced from the builder’s current income, while principal repayment is expected from the sale of units. During the initial period, the builder must pay simple interest along with a bullet repayment of the principal as per the sanctioned terms. For every unit sold, the builder must obtain a No Objection Certificate (NOC) by paying the principal amount as outlined in the sanction letter. If the builder fails to sell the units or does not repay the loan and interest as per the terms, OCHFL reserves the right to sell the units at approximately 60% of the value or selling price quoted by the builder.
- Repayment Capacity
- Stability and Continuity of Income
- Assets & Liabilities
- Business Profile
- Co-applicant's Income
- Guarantors
Loan Tenure & EMI
The tenure of the Construction Finance to the Builder would be upto the project completion time plus 24months. However the maximum term of loan should not exceed 36 months. The term is subject to maximum age criteria of 75 years. Fixed Prime Lending Rate (FPLR) - 15%. Applicable ROI: FPLR+3 % i.e. 18 %
- Quantum of loan
- Interest rate applicable
- Loan tenure
Special Payment Schemes
On the first disbursement security cover should be 1.5 times the loan amount.
