Buying a home loan with CFHL , assures you that your dream home becomes a reality. You can purchase any residential house or flat or construct a house. We also finance for companies or corporations or Societies or associations for purposes of construction or purchase of residential houses or flats.
CFHL has a scheme for site purchase to individuals where the allotment of site shall be for the residential purpose by State Development Agencies, Muncipal Bodies, Associations etc.
Repair/Renovation/Upgradation/Extension
Your house is looking old , dull , outdated . You want to make it look like a new house. Don't worry. CFHL grants you a loan for any major repair/renovation work of your existing residential building.
Definition of Repair : Includes re-plastering, ceiling, re-roofing, re-flooring, replacing doors/windows/electrical system/water supply system/sanitary system/ etc. white washing, painting and other similar repair works
Definition of Renovation/Ugradation : Includes face lifting, providing extra pillars, strengthening the building, providing permanent wardrobes, shelves, railings, canopy, compound wall and other similar work.
Definition of Extension : Includes extending the existing building vertically and / or horizontally putting up of staircase, constructing pooja room/bathroom/kitchen/toilet/reading room extra room and other similar work.
We have designed a scheme which will meet your requirement of both purchase of site and construction.The loan will be financed for both for the purchase of land from individuals/private builders and further construction thereon on the land financed by us.
Permitted Margin Money has to be maintained in both the stages. The stipulated margin has to be brought in by the party towards the cost of the site at the time of purchase of site and portion of the margin towards construction to be brought in before first disbursement towards construction.
The maximum permissible period for purchase and construction is 36 months. The maximum permissible period for availing the site loan portion shall be three months from the date of acceptance of offer and purchase transaction of the site is to be completed within 3 months of acceptance. The construction period shall not exceed 14 months from the date of first disbursement towards construction.