If you have commercial real estate, you can utilise it as leverage to obtain a reasonable sum of cash for a variety of financial needs. It can be utilised to keep the money flowing consistently through business operations, space renovations, etc. so let’s see how to get a commercial property loan for salaried person.
Get a home loan through NoBroker with minimum documentation here. Check your home loan EMI using NoBroker EMI calculatorCan you get a loan on commercial property as a salaried person?
Yes, you can get a loan on commercial property as a salaried person. A commercial property loan is a secured loan that you can receive against any business property you hold. It allows you to obtain additional capital by mortgaging your commercial property. Those who own commercial real estate are eligible to borrow up to 60% of the property's worth over a 15-year period. We'll dig further into every component of an Indian commercial property loan throughout the period of this post.
Eligibility Criteria to apply for Commercial Property Loan
You must be an Indian national, a resident of India, and a property owner in any or all of the following cities: Delhi NCR, Mumbai and MMR, Chennai, Hyderabad, Bengaluru, Pune, and Ahmedabad.
Your age should be between 28 – 58 years.
You must have a job in the multinational, private, or public sector.
Your income range should be from Rs.25,000 to Rs.35,000 rupees depending on the city.
You should have more than three years of experience.
How to make a commercial property loan application?
The processes mentioned below must be followed if you want to apply for a commercial property loan in India:
You have to find the application page on the lenders' website.
Enter your name, employment type, mobile number, and email address before continuing.
Provide information about your earnings and financial state next.
Go ahead and send the online application form.
Once you've submitted your application, a specialist from the lending institution will contact you to review and authorise your request for a commercial property loan.
You are now aware of how to get commercial property loan for salaried person.
Read More: Can you take a home loan after registration? Can you take a loan against sovereign gold bonds? Can you take a home loan after a personal loan? Can you take 2 home loans?Your Feedback Matters! How was this Answer?
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Can salaried person take loan on commercial property?
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2023-03-16T02:00:04+00:00 2023-03-29T18:17:12+00:00Comment
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