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Construction Finance or Project Finance is a unique offering under which Banks Finance companies provide loans & finance to real estate developers for projects they are developing.
Construction Finance offers real estate developers the option of acquiring requisite funds for their proposed or ongoing residential construction projects against the project sales receivables. The project finance is given subject to the construction plan timelines and the verified credentials of the developer. The loan for the real estate also helps the developer acquire new properties and has a specified tenure of up to 60 months.
As a developer, your primary target is the completion of the project at hand with strict adherence to timelines and buyer’s satisfaction. However, it is not always possible to start and complete every project with the requisite project cost at hand. Often, developers rely on borrowing from the market as the development progresses or diversion of funds from other completed projects. However, fluctuating trends in the market can freeze your finances and make it difficult to borrow from other sources. In such cases, you can prevent standstills in work by availing construction finance or real estate finance.
Types of Funding :