An Indian citizen can apply for a loan anytime they want, but things can get a bit complicated for NRIs. I used to believe that an NRI commercial property loan in India was not possible, but I was wrong. They can apply for it. They will just need to showcase more documents than an Indian citizen. If you are looking for an answer to the same query, this answer will help you.
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How to get commercial property loan from HDFC for NRI?
A commercial loan is a type of loan designed for the commercial purchase of buildings or plots. Such loans are mainly used to buy office spaces, but at no cost, they can be used to buy residential units. If you have the query-can NRI get loan for commercial property, let me tell you yes, they can. Different banks have set different criteria for it. As far as I know, the eligibility to avail of a home loan at HDFC is the same for NRIs as it is for Indian residents.
Self-employed professionals and non-professionals can apply for a commercial property loan in HDFC. All they will need is a stable income. The documents that are required to be furnished are-
Identity proof- Passport/ PAN card/ Voter Card/ Aadhar Card and more
Residential proof
Proof of income
Income tax return
Last 3 years' balance sheet
Last 6 month’s current account statement
Latest Form 26AS
List of directors and shareholders
Partnership deep
Details of ongoing loans
Passport size photos
Cheque in favour of HDFC for the processing fee
Title deed and more if needed
These documents are required to obtain commercial property loans for NRI in India. If you have any further queries, do discuss them with the bank officials.
I hope this clarifies every doubt regarding the NRI commercial property loan in India.
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Authors Of The Question
Can NRI Get Loan for Commercial Property?
Oishi
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1 Year
2023-03-21T10:40:32+00:00 2023-03-21T10:42:17+00:00Comment
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