8. Approved Project Finance (APF) & Construction Finance (CF)
Approved Project Finance (APF) -
In this Approved Financial Project Number (APF) a unique digit number is issued by an financial institution i.e. bank, or an authorized financial Institution that deals with infrastructure and real estate development as well as those, who provide home loans to individual Customers.
In this Promoter / Developer / Builder has to provide the concern PROJECT related all documents to the Bank(s) from which majority of customers with that APF Number raise the loan to purchase their own unit.
Through APF - Banks & Financial Institues gets whole details of the Project and no need of receiving repetative same documents form individual customers which reduces paper work and mainting those papers which acquires more space and to appricate paperless work to save the enviornment.
List of Documents to be Provided by Developer / Builder to get their Project registered :
1. Firms Identification Document (such as – Proprietorship / Partnership / LLP./ AOP/ Company)
2. Firms Pancard,
3. Builder Profile - Office Address, Other Project Details,
4. Bank Details
5. Project Details
6. Cost Sheet of Project
7. Cheque Favoring Name
8. Area Statement of Project
9. 7/12 Extract,
10. Related Mutation Entry (M.E.) i.e. फेरफार,
11. Zone Certificate
12. Public Notice & N.O.C. of Advocate from whom Public Notice was issued,
13. Latest Search Report Minimum 30 Years,
14. Sale Deed / Development Agreement photo Copy (Title Document)
15. Power of Attorney (Title Document)
16. Any Consent Deed / Correction Deed (If executed) (Title Document)
17. Any Supplementary Agreement (If executed) (Title Document)
18. Non Agriculture Certificate,
19. Commencement Certificate,
20. Approved Sanction Plan by the local authorities,
21. RERA Certificate,
22. Any Affidavits required as per bank to bank,
23. Draft Copy of Agreement,
24. Encumbrance Certificate,
25. Environment Certificate,
26. If Any Loan -
a. Registered Mortgage Deed,
b. List Of Documents (LOD),
c. No Objection Certificate (NOC)
27. If Any Court Case -
a. Plaint Copy,
b. Exh.05
c. If any Order
d. Next Date.
28. Fraud Controlling Unit (FCU Report) - Authenticity Report of Builder from Agencies.
After submitting all or concerned required document to the Bank / Financial Isntitute, they provides the Reference Number i.e. called APF Number to the concern Builder.
This makes each unit’s purchaser convenient for further procedural part and no need to get all chain documents from builder each time while purchasing unit. To reduce the time and reduce paper work is the motto of the Bank / Financial Isntitute.
Construction Finance (CF) -
These loans are specifically designed to fund the construction of a building or infrastructure project. Construction loans typically have a short-term duration and are disbursed in stages, known as drawdowns, as the construction progresses. The lender may require detailed project plans, budgets, and regular inspections to ensure the project is on track.
The List of documents which are required are same as APF above mentioned.
