Access Reliable Services for Real Estate Development
Real estate market is one of the most evolving sectors today. With land prices increasing and demand for housing also seeing a rise, the realtors businesses are in full swing. Even commercial estate requirement has escalated many notches in last few decades. Economy progressing and incomes rising, the need for good homes and office is also increasing.
Many new players entering the market
Looking at the market viability of real estate projects, many new players have entered the market. Even the existing ones are doing brisk business. The reason many realtors and realty firms are able to launch new projects and acquire land for future expansion is due to easy financing available nowadays.
Banking and finance sector opens up for realtors
With changing business environment and emergence of new sectors, banks and financial firms have designed products to suit the requirements of these new realtors. They now have construction finance projects, which are services for real estate development. These are financing services offered for real estate firms and developers. It covers acquisition project cost to construction as per the approved plan.
Some banks specially offer financing for residential projects while others are keener on giving out loans for commercial developments.
The facilities offered by banks for real estate development projects are:
- Easy application and form processing with assistance from banks
- Quick approval in case when the paper work and documentation is up to date
- Access to credit on basis of building plan
- Timely withdraw of cash to make necessary payments to suppliers and subcontractors
- Revision of loan amount in case the cost of the project increases over the estimated ones
- Customised loan based on the project requirement
- Easy repayment option with an extended time period - Get short term and long term loans
A unique initiative with tie up between banks and real estate developer
While buying a house or investing in commercial property, the buyer has to get loan for financing the requirement. Now many banks have joined hands with real estate developer and firms to offer loan facilities to those customers who show interest in buying their project or invest in their development. This is done to provide easy finance to customers who otherwise face a lot of difficulty in getting loan sanctioned due to long processes and stringent checks.
Summary: The above article focuses on the trend of banking and financial institutions giving services for real estate development. Financing real estate project has become a lucrative option for banks and so now, real estate developers find it easy to launch and complete their projects.
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