Bank Loans

KCC has an exclusive arrangement with HDFC (Housing Development Financial Cooperation) for availing home loan. Contact us and we will not only make the introduction, but also render all assistance for you to avail a home loan from HDFC We will also enable you to receive personal attention from HDFC in expediting the processing of your application for a luxury villa in SUNSHINE VILLAS.

HDFC does not charge any penalty for pre-mature closure of home loan after 3 years of final disbursement. So it it’s as simple as getting a loan today and closing it the next day without any extra payment. Home loans can be availed up to 80% of total Construction cost of the villa. The Interest rate is approx 10.5% per annum. Interest is calculated on diminishing balance.

In the case of Sunshine Villas, once you have arranged the first installment (25% of total cost), which is set apart as cost of land, and the land is registered in your name, the 80% balance installments can be availed as home loan. No further collateral security is required.

Amount that can be availed

• 60 times net monthly income can be availed for borrowers of age 18 to 45 years.
• 48 times net monthly income can be availed for borrowers of over 45 years of age.
• Home loans up to 75% will be sanctioned on approval of the eligibility of the applicant to repay the loan.

Eligibility

Eligibility will be considered based on the documents submitted by the applicant.
These should include:

• Salary Certificate/ slip.
• Overseas bank statements for the immediate past 6 months.
• Details of NRE accounts in India, if any.
• 2 passport-size photographs.
• Copy of passport.

If an applicant’s spouse is employed, and he/ she can also provide the required documents noted above, then, if the loan amount sanctioned to the applicant is not sufficient, the income of the spouse can also be included to make up the total amount necessary to avail the required amount for purchase of the villa.

REPAYMENT

All the 3 banks provide options for repayment of your home loan based on the age of the applicant, and the tenure of the loan you wish to avail, which range from 5 to 25 years.

• Age - up to 45 years: 25 years maximum
• Above 45 years: 20 years maximum

In the event that an NRI/ Buyer is unable to appear in person to execute the documents to avail the home loan for purchase of a villa in SUNSHINE, then a power of attorney produced by an authorized person will be sufficient for the purpose. The signature of the person issuing the power of attorney should be attested by an acceptable authority from the place of residence of the issuer.