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CREDIT SCHEME FOR BUILDERS/ COMMERCIAL/RESIDENTIAL COMPLEXES

CREDIT SCHEME FOR BUILDERS/ COMMERCIAL/RESIDENTIAL COMPLEXES

scheme June 21, 2016 9 Views

Loan scheme by RIICO, to promote business and industries in the state. The key features of the loan scheme are enlisted below:

Objectives:

  • To provide quick finance to builders to take up commercial/ residential complexes to meet the land cost, civil works and utility equipment like lift, DG Set, etc.
  • For purchase of land from local authority/Govt. authority/RSHB/ RIICO and private parties.

Eligibility:

                Assistance will be available to the units having:

  • Clear, valid and mortgage-able land title.
  • Approved building plan from appropriate local authority.
  • Satisfactory credit reports and/or record of repayment with financial institutions/banks.

Benefits:

  • Loan of up to 80% of the total value of land.
  • Not more than 1.5 times of the total contribution by promoter.

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