Commercial Property Construction Finance

Are you a business owner looking to construct new property but not very sure how to go about the same? Opting for a commercial property construction loan will provide you with the financial assistance required to help you achieve your goals. Read more to find out how a loan can help you fulfil your dreams of owning commercial premises.

What is a Commercial Property and what is a commercial property construction loan?

Commercial Property can be identified as property that is used for the operation of any business. The most popular types of commercial property include retail space and retail outlets. These types of property can be further subdivided into under construction and ready properties. A commercial property construction loan is a financing option offered by a lender against a collateral for the purpose of constructing a piece of commercial property.

What are the benefits of opting for a Commercial Construction Loan?

Get different types of home loans: You can avail these housing loans for multiple reasons such as buying a new/resold house,loan for home improvement, loan for home construction and loan for home extension

Here are some benefits of opting for a commercial building loan:

• Easy documentation: We understand that gaining easy access to finance can help you realise your dreams faster. This is why we have simplified the loan application process and insist on only the basic minimum documents to apply for the loan.
• Expert Counselling: Confused about whether you are making the right purchasing decisions for your business? We can assist you by providing you with advice to guide you through the different aspects of opting for a loan to help you make a better-informed decision.
• Interest Rates and Easy EMIs: Opt for loans at reasonable rates of interest and repay the amount in the form of easy EMIs without compromising on your standard of living.

What are the documents required to be submitted as a part of the application process?

The documents required to be submitted as a part of the application process include:

Common documents:

• Proof of Identity such as PAN Card, Aadhar Card, Driving Licence, etc.
• Proof of Residence such as Aadhaar Card*, Ration Card, Water Bill, etc.

Salaried Professionals:

• Proof of Income documents like previous three months’ salary slips, 6 months bank statement with proof that salary has been credited to the account, etc.

Self-Employed Professionals:

• Proof of Income documents that include previous two years ITR with computation, 6 months bank statement and CA audited financials wherever required.

Documents pertaining to the property you wish to construct such as the architect’s plan, etc. will also be requested. Apart from these, depending on your profile, requirement and Eminence Capital policy at the time of loan application, other documents may also be requested.

*Terms and conditions applicable. Loans are sanctioned at the discretion of Eminence Capital. Please note that Aadhaar numbers should be masked before submission as per regulatory guidelines