Industrial Property Purchase Loan

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Industrial Property Purchase Loan

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An industrial property purchase loan truly stands out as a great financial instrument if you are considering investment in industrial properties within India. The industrial sector is propelling asked the government focuses on initiatives like make in India. It fuels increased demand for industrial products and subsequently industrial properties. So, securing an industrial property in India truly necessitates substantial capital making an industrial property purchase loan a completely beneficial solution. If you are looking forward to getting an industrial purchase loan, then you need to look no further as you can always count on us. We can help you with the right loan at the right time.

How does the industrial purchase loan work?

The industrial property purchase loan works like a financing option that is especially designed to help you in acquiring industrial properties like factories warehouse or manufacturing units. You can get the loan in secured or unsecured format. The loan term interest and repayment times can vary depending on your policies and the eligibility criteria. The financial tool allows you or your business to access the important funds for expanding your operations. It proves invaluable for you to procure industrial properties.

If you apply for an industrial purchase loan with us, then you need to furnish the requisite documents like identification proof address details income statements and property specifics. We will conduct an assessment on these documents and the application to determine your eligibility. After the approval you can get access to the sanctioned funds to proceed with the purchase of the industrial property. The loan amount interest rate and repayment schedule will be determined during the approval stage. The repayment occurs through equated monthly installment across the loan tenure. It includes the principal and the accrued interest.

In case of a secured loan, you have to pledge your collateral, typically the industrial property being purchased as security against the loan. If you default, we have the right to seize the property and liquidate it to cover the outstanding amount.

Key features of industrial property purchase loan

The interest accrued on the industrial property purchase loan is basically applicable for tax deductions. It provides you with a financial advantage.
Unlike fixed rates the interest rate on industrial property purchase loan is negotiable. We can have a mutual agreement.
The loans basically carry higher interest rates as compared to residential and commercial property purchase loans because of their perceived higher risk.
Before you apply for the loan you need to know about loan to value ratio full. It is generally set at 60% for commercial properties and for rented commercial property it is around 50%.
The loan serves different industrial property types including self-occupied vacant or rented industrial units
Before the loan disbursement you have to pay a down payment ranging from 40 to 50% of the property purchase price.

Eligibility criteria for industrial property purchase loan

If you want to apply for this loan, you should be at least 21 years old at the time of the loan application.
You must have a consistent and sustainable source of income to ensure the repayment capability for the minimum income household will depend on the specific case.
It is very important for you to have a strong credit score that is above 750. Demonstrate your creditworthiness and payment potential.
It is important for you to have a stable employment history or a profitable business running for at least two to three years.

The property being purchased should align with our criteria for valuation and legal clearance. It can be exclusively categorized as industrial property like factories or warehouses.
In case of secured loans, you need to provide us with collateral like industrial property being purchased to secure the loan.
You must submit all the essential documents like identity proof, address proof, income statements bank statements and other papers.

Things to consider before applying for an industrial property purchase loan

You need to understand the required loan amount you must align with the industrial property market value and the financial necessities. If you over borrow then it might lead to higher Emis and increased interest costs. It will potentially strain your financial resources in the long term.

The interest rate plays a very important role in determining the overall loan cost you need to compare the interest rates and opt for the most competitive rate

You need to carefully choose the repayment tenure as it directly impacts the duration of the loan and the monthly EMI. You should balance shorter tenures against the longer tenures

For secured loans you need to offer collateral like the industrial property being purchased. You need to understand the collateral requirement and understand the risks before proceeding with the loan applications. You need to evaluate the potential consequences in case of default or your inability to pay.

At times you also need to pay processing charges like prepayment penalties or other costs. It will influence your total loan expense. You need to understand the fee structure and comprehend these charges upfront to factor them into your overall cost assessment.

You must understand and align with our eligibility criteria based on age, income credit score and employment status. You must ensure your eligibility as it reduces the likelihood of loan rejection and also you can avoid wastage of effort and time in unsuccessful application.

Documents Required for Salaried and Self-Employed Individuals

Salaried Individuals

Form 16
Employee Identity Card
Employer’s Certified Letter
Increment or Promotion letter
3 Months Salary Slip
6 Month Bank Account Statement

Self-Employed Private Limited Company

One Passport Size Photograph signed a crossed.
Photo ID Proof / DOB Proof (PAN Card / Passport /Driving License)
Residence Proof (Passport/Voter ID/Aadhaar Card/Driving Licence).
Office Address Proof (Rent or Lease Agreement / Electricity Bill/ GST registration certificate).
Up-to-date 1 Year Saving A/c. Bank statement (Individual).
Up-to-date Latest 1 Year All Current A/c. Bank Statement company (All Bank a/c’s).
Obligation Details (if any OD or CC Limits with Sanction Letter OR any Car Loans, Personal Loans, Business Loans, & Term Loans).
Last 3-Yrs ITR with Computation of income, P&L a/c & Balance sheet (with all annexure, schedules, Audit Reports & form 3cb/3cd) of all applicants & company.
Provisional ITR of the company & copy of advance tax challans & TDS Certificates (if any).
Form 26 AS for the last three years.
GST registration certificate and one year GST 3BR returns for the last one year.
Detailed Firm/Company Profile.
MOA/AOA of Company
Latest Share Holding Patterns & List of Directors certified by C.A. with Latest Annual Returns.
One Cheque for Processing.
Higher Qualification Proof(As per profile)
Property Document with MAP.

Self-Employed Partnership Firm

One Passport Size Photograph signed a crossed.
Photo ID Proof / DOB Proof (PAN Card / Passport /Driving License)
Residence Proof (Passport/Voter ID/Aadhaar Card/Driving Licence).
Office Address Proof (Rent or Lease Agreement / Electricity Bill/ GST registration certificate).
Up-to-date 1 Year Saving A/c. Bank statement (Individual).
Up-to-date Latest 1 Year All Current A/c. Bank Statement company (All Bank a/c’s).
Obligation Details (if any OD or CC Limits with Sanction Letter OR any Car Loans, Personal Loans, Business Loans, & Term Loans).
Last 3-Yrs ITR with Computation of income, P&L a/c & Balance sheet (with all annexure, schedules, Audit Reports & form 3cb/3cd) of all applicants & company.
Provisional ITR of the company & copy of advance tax challans & TDS Certificates (if any).
Form 26 AS for the last three years.
Partnership deed
GST registration certificate and one year GST 3BR returns for the last one year.
Detailed Firm/Company Profile.
MOA/AOA of Company
Latest Share Holding Patterns & List of Directors certified by C.A. with Latest Annual Returns.
One Cheque for Processing.
Higher Qualification Proof(As per profile)
Property Document with MAP.

Self-Employed Proprietor Firm

One Passport Size Photograph signed a crossed.
Photo ID Proof / DOB Proof (PAN Card / Passport /Driving License)
Residence Proof (Passport/Voter ID/Aadhaar Card/Driving Licence).
Office Address Proof (Rent or Lease Agreement / Electricity Bill/ GST registration certificate).
Up-to-date 1 Year Saving A/c. Bank statement (Individual).
Up-to-date Latest 1 Year All Current A/c. Bank Statement company (All Bank a/c’s).
Obligation Details (if any OD or CC Limits with Sanction Letter OR any Car Loans, Personal Loans, Business Loans, & Term Loans).
Last 3-Yrs ITR with Computation of income, P&L a/c & Balance sheet (with all annexure, schedules, Audit Reports & form 3cb/3cd) of all applicants & company.
Provisional ITR of the company & copy of advance tax challans & TDS Certificates (if any).
Form 26 AS for the last three years.
GST registration certificate and one year GST 3BR returns for the last one year.
Detailed Firm/Company Profile.
MOA/AOA of Company
Latest Share Holding Patterns & List of Directors certified by C.A. with Latest Annual Returns.
One Cheque for Processing.
Higher Qualification Proof(As per profile)
Property Document with MAP.

Why Choose Us

Before you apply for a property purchase loan with us you need to have a clear purpose for the loan. You need to ensure that the industrial property being acquired guarantees enough returns to service the loan we will ensure that you get the right loan as per your purpose and also aligns with your business objectives. We will also ensure that the loan serves its intended function effectively. Connect with us today and get the best interest rates.

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