Welcome to the Ajmera Group: Sectors: Real Estate

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Home | Sectors | Real Estate | Home Loan FAQs

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HOME loan for NRIs

List of Employment/Residency Related Documents Required

Photocopies of:


	Employment Contract (English copy if the contract is not in English, attested by the Embassy/Employer)
	Latest Work Permit
	Details of Previous Employment
	Identity card issued by Current Employer
	Continuous Discharge Certificate (CDC) (for applicants employed in the Merchant Navy
	Latest Salary Slip/Certificate
	Overseas Bank Account Statement (four months)
	Pages with Visa Stamp on the Passport

List of Property Related Documents Required


	Allotment letter from the co-operative society / association of apartment owners
	Receipts for payments made for purchase of the dwelling unit
	Agreement for sale / sale deed /detailed cost estimate from Architect / Engineer for property to be purchased / constructed /extended / improved
	Copy of approved drawings of proposed construction/purchase/extension

List of Additional documents required by a person of Indian Origin Required


	Photocopy of PIO card
	If the PIO card is not available, photocopies of any of the following documents:
	The current passport, with birthplace as ‘INDIA’
	The Indian passport, if held by the individual earlier.
	Parents/grandparents Indian passport/birth certificate/marriage certificate substantiating the individuals claim as a person of Indian origin.

How do I repay the loan?

You repay the loan in Equated Monthly Installments (EMIs), which includes principal and interest. EMI repayment starts from the month following the month in which you take full disbursement. EMI is payable every month, by the end of the month from the date of each disbursement up to the date of commencement of EMI. Pre-EMI is calculated at the same rate at which EMI is calculated. EMI payments are to be made through post dated cheques from your Non Resident (External) Account/Non Resident (Ordinary)/Non Resident (Special) Rupee Account (NRSR) in India.

Can I repay my loan ahead of schedule?

Yes. You can repay the loan ahead of schedule, by remittances through abroad through normal banking channels, your Non Resident (Ordinary) / Non Resident (Special) Rupee Account (NRSR) in India.

Does the Agreement For Sale have to be registered?

In many states in India, the Agreement of Sale between the builder and purchaser is required by law to be registered. You are advised in your own interest to lodge the agreement for registration within four months of the date of the Agreement at the office of the Sub Registrar appointed by the State Government, under the Indian Registration Act, 1908.

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