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Home Loan

We provide all our customers the facility of processing their housing loan at no cost. The only charges that the customer has to bear is bank charges. Our projects are approved at all the banks given below. Our executives will provide complete assistance to complete the housing loan paperwork.

BANKS/ FINANCE COMPANIES

The following banks have legally approved the project:

Any customers who purchase a house /apartment may approach any of the above banks for housing loans. Customers who wish to apply at any other banks may do so and legal documents of the project will be provided if required.

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Feedback

Hi,
We heard from so many people that SBI loan will get delayed. In the beginning when Vasanth told me that the loan will be sanctioned within a week I was not sure about it. But things happened so quickly and the loan got sanctioned within a week. I really liked the way he work, will recommend him for other customers as well.

Thanks,
Naveena Kadaba

HOUSE LOAN ELIGIBILITY

All individuals who are self employed or employees are eligible for housing loans subject to the fact that they can produce all the required documents. Please refer Documents required section

AMOUNT OF HOUSING LOAN

Employees

  • - 60 times monthly net income if under 45 years of age
  • - 48 times monthly net income if over 45 years of age

Business Owners

  • - 4 times annual income as reflected in IT return if under 45 years age
  • - 3 times annual income as reflected in IT return if over 45 years

HOUSING LOANS FOR NON-RESIDENT INDIANS

Non -Resident Indians can avail housing loans from banks operating in India/Hyd very easily. The procedure is very simple. They must provide all the housing loan documents and also execute a simple Power of Attorney in favor of any of their relative/friends located in India to do the documentation here.

DOCUMENTS REQUIRED FOR SALARIED PEOPLE

  • - Salary Certificate
  • - Pay Slips - 3 months Latest
  • - Proof of Date of Births - (Passport / driving license / PAN card / SSC)
  • - Residence Proof - (Recent Telephone Bill / Gas Bill / Electricity Bill)
  • - Last 6 months Bank Statement
  • - 3 Photo's of Applicant + 2 photo's of surety
  • - Form - 16 for income tax payers
  • - 25 Post Dated Cheque Book
  • - LIC Policies if any
  • - Receipts of amount spent on the flat
  • - PF Statement
  • - Approx Eligibility - (below 35 years age Net Salary x 60 Times and above 45 years age Net Salary x 45 times)
  • - Note : for Private Limited Companies, Employee's PF is compulsory

DOCUMENTS REQUIRED FOR BUSINESS PEOPLE

  • - IT Returns with Computation
  • - Profit & Loss Account of Firm
  • - Residence Proof
  • - Last 6 months Bank A/c
  • - 5 Photo's of Applicant & photo's of Surety
  • - LIC policies, Assets Proof
  • - Approx Eligibility - (Net yearly Income x 3 times)

GUARANTOR

  • - Net Salary greater than or equivalent to EMI.
  • - Service left over should be equivalent to tenure of the loan.

Home Buying

  • - Get answers to your home-buying questions.

How big a home do you wish to purchase ?

Have you decided on a bungalow, an apartment or a penthouse? The overall size and area of the building you wish to purchase depends largely on the size of your family, your personal requirements and the budget framework if any. Buying a home is a one-time investment you make, and so think from the long-term perspective. Like, a newly married couple could rather settle for a one bedroom apartment; but any new addition to the family in the future should force you to consider an even bigger home.

How do you decide on an apt location ?

Location is one of the main issues to catch your concern, when buying a new home. While deciding to buy a new home, make sure the location permits easy accessibility or proximity to such everyday conveniences like office, shopping etc. Also, it is a necessity that your location houses schools and hospitals at a nearby distance. Public transport accessibility too is a crucial factor.

Refinancing

Get answers to your refinancing questions.


Is it legally approved for foreign nationals of Indian origin to own real estate properties in India ?

Foreign nationals of Indian origin, whether resident in India or abroad, have been legally backed to purchase and keep immovable property in India. They are allowed to make payment either out of inward remittances in foreign exchange through normal banking channels or out of funds from NRE/FCNR accounts maintained with banks within India. Also on purchasing the property, they are required to file a declaration in form IPI 7 with the Central Office of Reserve Bank, Bombay within not more than 90 days from the date of purchase of Immovable property.

Can NRIs purchase a property through Agents or through Power of Attorney ?

It is legally permitted for NRIs residing abroad to purchase the property through their relatives and/or by executing the Power of Attorney in their favour, if it is not possible for the buyer to be present for completing the paper formalities. Power of Attorney should be executed on the stamp paper, in the witness of the proper authorities in foreign countries. It has to be noted that Power of Attorney cannot be drafted on the stamp paper bought in India.

       

   

Our Projects

Having carved a niche in developing lifestyle amenities, Sumo Properties now introduces their extravagant apartments.

Blending Ambience & Luxury

Our experience of over two decade goes a long way in flawless, perfect and punctual execution. The projects is backed by integrity credibility and built on trust.