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Home > City Resources > Finance > Sundaram Home Finance
Logo Sundaram Home Finance Limited, an offshoot of Sundaram Finance Limited (SFL) is offering loan to fulfill the dream of having a house of your own. With Sundaram Home Finance you can construct a house on your plot of land or purchase an apartment from a builder or purchase a bungalow or apartment on a resale basis. You can also avail the loan from Sundaram Home Finance for adding an additional room or two to your existing home, or put an additional floor to your existing home or you can carry out internal and external repairs to your existing home. For all these, you just have to knock the door of Sundaram Home Finance, which will be ready to lend you a helping hand in terms of giving the loan.

Happy homeStarted in 1999, under the Companies Act, 1956, Sundaram offers loan to any individual who has the capacity to service a loan, as assessed by Sundaram Home. The maximum loan that can be availed through Sundaram Home Finance under home loans and home extension loans category is Rs 1 crore or 85% of the cost of property, which ever is less subject to your repayment capacity as assessed by Sundaram Home. And under home improvement loans category you can avail Rs 10 lakhs or 70% of the cost of improvements as evaluated by Sundaram Home whichever is less subject to your repayment capacity. But who are eligible for taking the loans? "Your loan eligibility is assessed taking into consideration factors like monthly income, monthly commitments, assets, age, qualification, employment, and savings background", says Mr VS Ramanuja, Officer-Operations, Sundaram Home Finance Limited.

Transform your home with SundaramFor employed applicants, the maximum term of repayment is 15 years or retirement age whichever is earlier. For self employed applicants, maximum term of 15 years or 65 years of age whichever is earlier and for home improvement loans maximum term of five years is given for the repayment of the loan. The loan repayment is by way of Equated Monthly Instalments (EMIs) from the month following the month in which the final disbursement takes place. The mode of repayment is deduction from salary if Sundaram has an arrangement with your company or through post dated cheques.

What are the enclosures that are to be submitted along with the application? "If you are employed, your latest salary slip, profile of your company, and your previous occupational history and if you are self employed, then a copy of your profit and loss accounts, copy of computation of income by your chartered accountant and a copy of acknowledgement of IT returns given by the income tax department ", says Mr Ramanuja.

Sundaram- Kindling the dream of a homeAnd what is the security for the loan?"The loan will be secured by an equitable mortgage of the property. Equitable mortgage of property is created by way of deposit of title document of the property financed. The loan will be disbursed in full or in suitable instalments based on the progress of construction as assessed by Sundaram Home" , says Mr VS Ramanuja.

So what are you waiting for? Get into Sundaram Home Finance Limited and take home the loan.

Address: Sundaram Home Finance Limited, Flat # 102, 1st Floor, AMSRI Plaza, # 9-1-164, Sarojini Devi Road, Secunderabad-500 003. Phone: 780 5833 / 780 6002.

Office timings: 9:30 am to 6:00 pm.
- MAR Fareed

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