Essential Documents for Bank Approval of APF Loans and RERA Compliance in Real Estate Development
Essential Documents for Bank Approval of APF Loans and RERA Compliance in Real Estate Development
NOTE: files with incomplete/ IMPROPER DETAILS SHOULD NOT be accepted FOR SCRUTINY
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- Name of the Project :______________________________________________________
- Detailed Project Address* : Plot No._______________________________________________
Khasra/Survey No________________________________________ Locality________________ _______________________________ City: __________________________________________________ Pin Code: ______________________________________________
Google Coordinates: ____________________________________
- Name of Land Holder / Land Lord : ________________ ______________________________
- Nearest Landmark : ______________________________________________
5. No. of Floors (as per approved plan): ______________________________________________
6. No. of Buildings/ Wings : ______________________________________________
- Total number of flats/chambers/shops : _____________________________________________
(With Avg.size) available for sale
- of units : Booked _______ _____ / Vacant_______ __________
- of flats allotted to landowner /
ULC authorities (if any) : ______________________________________________
- Scheme being implemented : Apartment / Hsg Society
- selling rate per sqft for 🙁 a ) Flat _________ Rs per Sqft on
Carpet / Bup / SBup Area (Plstick)
(b) Shop _________ Rs per Sqft on
Carpet / Builtup / SuperBuiltup Area
Area (Plstick)
( c ) Plot __________ Rs per Sqft on plot Area
( d ) Construction ___________ on Carpet / Builtup / SuperBuiltup Area
- GST Charged (in %) : _______________________________________________
- Electricity & Water Meter Charges :________________________________________________
- One Time Maintenance :________________________________________________
- Parking Charges (if any) :________________________________________________
- Any Other Charges (if any) :________________________________________________
- MahaRera No :________________________________________________
- Expected date of completion of project. : ______________________________________________
- When will the SALE DEED be executed : ______________________________________________
- Disbursement Cheques to be favoring : ___________________________________________
- Name of Architect : _______________________________________________
- Address of the Architect : _______________________________________________
_______________________________________________
- Registration number : _______________________________________________
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- Name of the Developer : ____________________________________________
- Nature of Business enterprise* : Proprietary / Partnership / Company / Trust / Association of Persons
- Address of Developer’s office : ____________________________________________
____________________________________________
____________________________________________
Pin code: __________________________________
- Promoter/Partners / Director/s : ______________________________________________
- Name of contact person/s : __________________________________________________
- Contact Phone numbers
Mobile No. : ______________________________
Residence No. : ______________________________
Email id : ______________________________
7. Bank details of Developer : Title: _________________________________ ______ Bank Ltd
(Rera Collection A/c) Branch ______________________________________________
A/c No ______________________________________________
- Permanent Account Number : _____________________________________________________
(Please attach Xerox of PAN Certificate/Card)
- Previous schemes – Completed : ____________________________________________________
- Schemes in pipeline / under progress : _________________________________________________
10. Membership of Association/s : / ___________________________________
- Credit facilities with any Institution: YES / NO. If Yes – Name of the Institution________
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Documents enclosed:
* Please tick applicable option
| List of Legal / Technical Documents
| YES | NO | NA | |
1 | Sale / Lease Deed in respect of Land on which construction is proposed | ( ) | ( ) | ( ) | |
2 | Previous Chain of Documents of Title in favor of the present Holders / Owners / Developers.
| ( ) | ( ) | ( ) | |
3 | Development Agreement with Land Holder / Owner
| ( ) | ( ) | ( ) | |
4 | Power of Attorney by Land Owner / Holder to Developer
| ( ) | ( ) | ( ) | |
5 | Deed of Declaration
| ( ) | ( ) | ( ) | |
6 | Search Report (last 30 years) and Title Certificate from Advocate (must include latest land transaction incl Development Agreement and PoA ) | ( ) | ( ) | ( ) | |
7 | ULC Exemption Order | ( ) | ( ) | ( ) | |
8 | Non Agricultural ( N A ) Order AND Latest NA tax receipt | ( ) | ( ) | ( ) | |
9 | Partnership deed of Developers / Memorandum & Articles of Association ( if Pvt Ltd / Ltd company ) | ( ) | ( ) | ( ) | |
10 | AkhivPatrika / Property Card Extract from City Survey Office
| ( ) | ( ) | ( ) | |
11 | Photocopy of Latest Property Tax receipt | ( ) | ( ) | ( ) | |
12 | D L R Sheet (for plot loans) ( MojniNakasha) | ( ) | ( ) | ( ) | |
13 | Form No.6 | ( ) | ( ) | ( ) | |
14 | Form No. 8 ’A’ | ( ) | ( ) | ( ) | |
15 | Gaon Namuna’2’ | ( ) | ( ) | ( ) | |
16 | Form 6 ‘D’ / Ferfarpatrak | ( ) | ( ) | ( ) | |
17 | Development authorities NOC / Permission. CIDCO / MHADA / NIT / DISTRICT COLLECTOR / NAZUL AUTHORITY etc. (as applicable) | ( ) | ( ) | ( ) | |
18 | Sanctioned Layout Plan (Jumbo copy) | ( ) | ( ) | ( ) | |
19 | Sanctioned Building Plan (Jumbo copy). ( Must include elevation section and F S I calculation ) | ( ) | ( ) | ( ) | |
20 | Building permit / Commencement certificate | ( ) | ( ) | ( ) | |
21 | Letter Head of Developer showing name of concern | ( ) | ( ) | ( ) | |
22 | K Y C Documents – Driver’s License / PAN Card / Voter I-Card / Passport Copies duly attested | ( ) | ( ) | ( ) | |
23 |
| ( ) | ( ) | ( ) | |
24 |
| ( ) | ( ) | ( ) | |
25 |
| ( ) | ( ) | ( ) | |
Developer’s Name : ____________________________________________________________
Stamp and Signature____________________________________________________________
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I, ___________________________________ _____________ have visited the premises of the developer, seen all the original documents, approved plans, permission/s, orders etc. copies whereof are appended hereto and verified the same on behalf of BANK .
Sign : __________________ Date : _______________ | |||||
BUSINESS DEVELOPMENT REMARKS:-
YEAR OF INCEPTION __________________________________
NO OF PROJECTS COMPLETED __________________________________
NO OF UNITS COMPLETED (TOTAL) __________________________________
NO OF UNITS SOLD IN THIS PROJECT_________________________________
STAGE OF CONSTRUCTION (%) _________________________________
EXPECTED LOANS (NOS) _________________________________
AMENITIES TO BE CONSIDERED _________________________________
PAYMENT PLANS CLP/ACCELARATED
RECOMMENDED PAYMENT PLAN
| % progress | Recommended | Define a band (%) |
Initial Booking amount |
|
|
|
Work not started | 0% |
| 44-54 |
Foundation work completed | 25% |
| 56-66 |
Structure work in progress | 35% |
| 60-70 |
Structure work in progress | 45% |
| 64-74 |
Structure work in progress | 55% |
| 69-79 |
Structure work completed | 65% |
| 73-83 |
Partition & Internal Plastering completed | 75% |
| 83-93 |
Flooring work completed | 85% |
| 100 |
External Plastering/Finishing completed | 90% |
| 100 |
Handing over | 100% |
| 100 |
PRODUCTS/FACILITIES EXPLAINED
| Pls tick |
Reach |
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Rural housing finance |
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Electronic fund transfer |
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Small construction finance |
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RECOMMENDED / ORIGINALS VERIFIED BY
_________________________________
LEGAL REMARKS:-
___________________________________________________________________
____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Recd on: ____________ Checked on: ___________ SIGN: _______________
TECHNICAL REMARKS: –
___________________________________________________________________
____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Recd on ____________ Checked on ___________ SIGN: _________________
BRANCH MANAGER’S REMARKS:
___________________________________________________________________
___________________________________________________________________
B M ‘S SIGNATURE: _____________________ DATED ___________________
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Property Master Number = P – _________, generated on ______________
To,
Branch Manager
BANK
Branch:
Dear Sir,
We have submitted documents of project- situated at to you for approval for financing individual customers who have purchased a unit in the project.
We are aware that BANK under instructions from the customer will be disbursing the loan in favor of the developer. We would like to register our bank account with BANK and confirm that we have no objection receiving the disbursement amount by way of Electronic Funds Transfer facility.
We hereby confirm that the disbursement of the customer’s (purchaser’s) loan can be paid in to the following bank account:
– Bank account Number-
– Name of Account Holder-
– Account Type-
– Name of Bank-
– Branch Name-
– Branch City-
– IFSC-
We are also attaching a copy of a cancelled cheque for your records.
We also undertake to:
- Credit the amount received from BANK to the account of the customer (purchaser) without any delay
- Issue necessary receipts to the customer (purchaser) for such payments
- To inform BANK and the customer of any change in the Bank account.
- Account no mentioned above is RERA COLLECTION A/C NOT RERA COLLECTION A/C
Yours Sincerely,
(Signature)
Name of Authorized signatory-
Designation of Authorized signatory –
Date:
Contact Number:
Email ID:
Note: (Cancelled Cheque will not be applicable for ESCROW accounts)
Essential Documents for Bank Approval of APF Loans and RERA Compliance in Real Estate Development
UNDERTAKING
I _________ Authorized Partner of “M/s. __________, (PAN NO. __________ )” do hereby state and declare on solemn affirmation that:
We have acquired development rights of Property bearing Nazul Leasehold Plot No. __ out of city survey no. __, Mouza : __, bearing Municipal Corporation No. __ situated at ____, Ward No. __, Circle No. ___, Division ___, City Nagpur Tehsil and District [referred to as the said property ]
- There is no litigation or dispute with the owners in respect of the said property before any court of law or any authority.
- There is no other litigation pending before any court or any authority in respect of the said property.
- The said owners have clear & marketable title to the said property & the same is free from any encumbrances.
- The Developers has not obtained any loan from any financial institution/Bank against the said property & has not mortgaged the same to any Bank/institution.
- The developer shall not without consent of _____Bank Cancel or terminate any agreement with the purchaser who has obtained loan from _______Bank
- Bank Favoring details :
Name – M/s. ________
Bank Name – Bank _________
A/c no – _______
IFSC Code – ________
The above mentioned contents are True & Correct to the best of my Knowledge, information & belief & in witness whereof I have signed hereunder on the _____ day of ___ 20__ at Nagpur.
Place : Nagpur
Dated: ___ ____ 20__
Essential Documents for Bank Approval of APF Loans and RERA Compliance in Real Estate Development
Essential Documents for Bank Approval of APF Loans and RERA Compliance in Real Estate Development
Essential Documents for Bank Approval of APF Loans and RERA Compliance in Real Estate Development
Introduction:
Homebuyers’ Guide: Understanding Documents Required for Bank Approval and RERA Compliance in Real Estate Projects
Homebuyers’ Guide: Essential Documents for Bank Approval and RERA Compliance in Real Estate Projects”
Planning to buy a home? Learn about the important documents required for bank approval of loans to developer builder promoters (APF) and ensure RERA compliance. Explore the buyer’s perspective on necessary documentation, account compliance, and regulatory standards in real estate projects. Make an informed decision and secure your dream home with confidence
- Briefly introduce the significance of understanding the documents required for bank approval and RERA compliance from a homebuyer’s perspective.
- Highlight the importance of being well-informed and aware of the regulatory aspects in real estate projects.
Section 1: Documents Required for Bank Approval 1.1. Loan Application Documents:
- Discuss the documents required by the bank for loan application, including identification proof, income proof, address proof, and other relevant documentation.
- Emphasize the need for providing accurate and complete information to facilitate the loan approval process.
1.2. Project-related Documents:
- Explain the essential project-related documents that homebuyers should review before making a purchase.
- Include details about the RERA registration certificate, approved building plans, environmental clearances, and other permissions and approvals required for the project.
1.3. Title Documents:
- Highlight the significance of verifying the title documents to ensure the developer has a legal right to the property.
- Explain the importance of reviewing sale deeds, development agreements, and other relevant title documents.
Section 2: RERA Compliance in Real Estate Projects 2.1. Overview of RERA:
- Provide a brief introduction to the Real Estate (Regulation and Development) Act (RERA) and its purpose in protecting homebuyers’ interests.
2.2. RERA Account Compliance:
- Explain the concept of the RERA escrow account and its importance in ensuring transparency and accountability in the utilization of funds.
- Discuss the role of the escrow account in safeguarding homebuyers’ investments.
2.3. Project Progress and Quarterly Updates:
- Describe the requirement for developers to provide project progress updates and quarterly reports as mandated by RERA.
- Highlight the significance of monitoring project progress and staying informed about the status of the development.
2.4. Buyer Grievance Redressal Mechanism:
- Discuss the buyer grievance redressal mechanism established under RERA and how it protects homebuyers’ rights.
- Provide information on how homebuyers can raise complaints and seek resolution for any issues or disputes.