Ask anyone who has approached a bank or a financial institution seeking land loans, and they will immediately tell you how frustrating the process is. The sheer number of documents to produce, the waiting days, the verification process, and top of them, the lack of assurance of getting the land loan sanctioned will only add to your stress and burden.
But when you approach a trusted plot developer, getting a land loan becomes a lot easier.
A reputed plot developer ensures the plots they sell don’t have any legal issues. So they make sure every document is authentic and verified. Besides, since they are into the business of selling plots, these companies also know which financial institution is the best choice to obtain loans for lands approved by different government bodies like BDA, BBMP, and BMRDA, MPA, DTCP, etc.
This will save you a great deal of time.
Moreover, at Sizzle Properties, when we say loan-approved plots, we not only mean the plots are eligible for loans, but also mean the plots have clear documentation and are verified by the respective financial institutions. That means no legal hassles.
Do you know? Financial institutions normally take anywhere between 60 to 90 days to approve land loans. That is, when all the documents required for land loans are perfectly in place and doesn’t have any sort of legal issues.
But with a trusted plot developer you could expect a speedy approval. At Sizzle Properties, we get land loans approved from financial institutions in a quick 15 days period (provided you provide us a complete set of documents requested from your side). This is almost the fraction of the waiting time when compared to directly getting land loans from a bank.
We are able to achieve this because we constantly deal with these financial institutions and thoroughly know their process like the back of our hands. Besides, we also provide a large turnover every month for these institutions. So our bank loan approval process is super fast.
When you approach a financial institution, your chances of getting a land loan is considered based on various factors such as CIBIL Score, repaying capacity, and the likes.
So, in case, if you don’t meet the eligibility criteria, your loan could be rejected. As the risk of offering land loans fall entirely on the shoulder of the bank manager, they don’t often recommend the alternative options to secure land loans. Also, at times, even due to human negligence, your loans might not get approved.
But a reputed plot developer will do legitimately everything possible with utmost diligence to help you secure land loans. For those who have a low CIBIL score, we suggest alternative ways like seeking the help of a co-applicant or guarantor to get loans. So the possibility of getting land loans approved is always high with reputed plot developer like Sizzle Properties.
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