Repco Home Finance : Apply For House Loans & Download Application Online

Name of the Organisation : Repco Home Finance Limited (repcohome.com)
Type of Facility : Apply Home Loans & Download Application Online
Location : Chennai

Website : http://www.repcohome.com/index.php

Home Loans Online :
Products :
Sr.No | Name of Loan Product | Product Details
1 | Dream Home Loan | Loans for the purpose of construction or purchase of a property.
2 | Home Makeover Loan | Loans for the purpose of repairs, renovation, and / or extension of a property.
3 | Plot Loans | Loans for outright purchase of plots for construction of a house.
4 | Super Loan | Loans for construction (including extensions and additions to existing property) on land owned by borrower’s parents.
5 | Fifty Plus Loan | Loans to persons above 50 years where loan repayments and disbursements are structured around the retirement / pension income stream of the borrowers.
6 | NRI Housing Loan | Loans to non-resident Indians for the construction and purchase of houses in India.
7 | Prosperity Loan | Loans against mortgage of immovable property for such purposes as may be desired by the borrower.
8 | New Horizon Loan | Loans for purchase and / or construction of non-residential and commercial property.

Tax Benefits :
Resident Indians are eligibile for certain tax benefits on principal and interest components of a housing loan under the Income Tax Act, 1961. Interest repayment of Rs. 1,50,000 p.a. can get the borrower a tax saving up to about Rs. 50,985 p.a. under Sec 88. Moreover, one can get added tax benefits under Sec 80 C on repayment of principal amount upto Rs. 1,00,000 p.a. that can further reduce his tax liability by about Rs. 33,990 p.a.

Home Loan process at RHFL :
Phase 1 : The Sanction Process
** Normally, it would take 4-7 working days for the sanction process from the date of receipt of all the documents at Repco Home Finance Ltd.
** You contact us (provide link)
** Our representative visits you and explains the loan product
** You provide us with income and personal documents as listed along with the application form and Processing Fee as applicable.
** Our representative visits you to validate information
** Documents are credit appraised and decision taken on the sanction of the loan.
** Personal Meeting with you.
** Our offer letter along with a list of legal/property documents required is delivered to you.

Phase 2 : The Disbursement Process
** Normally it would take 4-7 working days for the disbursement process from the date of receipt of all the documents at Repco Home Finance Ltd.
** When you need a disbursement you call us.
** Our representative visits you and collects Legal/Property Documents, Loan Documents and PDC’s from you.
** A RHFL panel advocate vets the legal/Property documents.
** A RHFL Officer Visits the property.
** All collateral taken. (If applicable)
** Proof of your own contribution.
** Disbursement cheque is prepared.
** The disbursement cheque is delivered to you

https://www.repcohome.com/

Supporting Documents (RH-3) :
Personal Documents :
For applicant and co-applicant/s
All the papers shall be submitted in original. Xerox copy if any, shall be get attested by a Gazetted Officer

Xerox copies of the following documents:
** Passport size photos – each two
** Age proof – passport / school certificate / employer certificate
** Address proof – passport / ration card / election ID card / Employer I.D.
** Last six months bank A/c statement for applicant and co-applicant

Income Documents :
For both applicant and co-applicant (whichever is applicable)

If salaried :
** Latest salary slip
** Salary certificate
** Form 16 or IT returns with income computation for latest 3 years

If non – salaried :
** IT returns with computation of income for latest 3 years of the Concern/Firm/Company and the individual
** Audited financial statements of the concern/firm/company for latest 3 years
** Write up about the business
** Details of credit facilities availed by the individual as well as concern/firm/company from any bank or financial institution.
** Partnership deed, if applicableIf non-salaried, all the income paper copies should be duly attested by your auditor

Guarantor Details:
Duly filled and signed Guarantor form, one photograph/identity card Xerox/pay slip/salary certificate/form 16/IT ACK Xerox

For Purchase of Existing house / Apartment :
** Sale agreement
** Draft Sale deed (to be approved by our Panel lawyer)
** E.C. for latest 25 years IN ORIGINAL
** Approved plan and permit
** Latest property tax receipts
** Prior Title documents (Parent deeds) for latest 25 years
** IT clearance or Appropriate Authority clearance, whichever applicable
** Patta

For Purchase of New Apartment :
** Sale agreement for undivided share ofland
** Construction agreement between thecustomer and the builder
** Registered sale deed for the undividedshare of land.
** E.C. for latest 25 years IN ORIGINALwhich should reflect the sale in favour of the customer
** Approved plan and permit
** Other parent documents pertaining to theproperty for at least 25 years
** IT clearance or Appropriate authorityclearance, whichever is applicable
** Patta

Self Construction / Extension / Repairs :
** Sale deed in favour of the customer
** E.C for latest 25 years IN ORIGINAL
** Approved plan and permit
** Prior title documents for latest 25 years
** Estimation of construction duly attested by Chartered Engineer or approved architect
** Patta
** Latest property tax receipt

APPLICATION SHOULD BE SUBMITTED ALONG WITH PROCESSING FEE

In case of property purchased from statutory authority, improvement trusts, housing boards etc:
** Allotment letter issued by the authority.
** Allocation letter
** Receipts of payments made to the authority.
** Permission to mortgage
** Non encumbrance/no dues certificate, if applicable
** Title deed (after registration)

Reminders :
** Applicant must retain photocopies of all documents being submitted by him/ her for future reference.
** Applicant may be asked to submit further legal documents if required by
** REPCO HOME FINANCE LTD. or its approved lawyers.

Disbursals will be subject to 230 A Clearance of the seller and/or 37-I Clearance from the appropriate Income Tax Authorities, if applicable.

No disbursals will be made if the registration of the conveyance deed is Pending Market Value clearance.

Contact us:
Repco Home Finance Limited
“Corporate Office” , Third Floor,
Alexander Square,
New No : 2,
Sardar Patel Road,Guindy,
Chennai – 600 032.
Ph : (044) – 42106650 Fax : (044) – 42106651
Mobile : 9444394918
E-mail : co@repcohome.com

Toll Free Number : 1800-425-6070 (Mon-Fri: 10am –6pm, Sat:10am-3pm)