• Step 1: Submit your loan application along with required set of documents. These include identity and address proof along with proof of income for all the applicants of the loan.
• Step 2: Your application will be assessed on the basis of various eligibility and funding norms.
• Step 3: A property valuation and title check may be carried out by the company representative to determine the property value and legal clearance of the property to arrive at the loan amount.
• Step 4: Based on the internal and regulatory guidelines, Roha Housing Private Finance Ltd. may approve or reject the loan application.
• Step 5: Submission of the original property documents are required along with signing of agreements, handing over of registered property papers and submission of post-dated cheques/signed ECS form.
• Step 6: Upon finding all the documents in order, Roha Housing will disburse the loan amount to the developer/contractor based on the progress of construction. The EMI/Pre-EMI will commence after the disbursement.

Maximum amount that one can borrow depends on factors such as:

The purpose of the loan, income eligibility and the value of the property.

At Roha Housing Finance Pvt. Ltd., the Home Loan amount is approved up to 80% of the cost of property subject to a maximum of Rs. 30,00,000. In special cases we fund up to 90% of the cost of the property.

The repayment period can range from 5 to 30 years.

Yes, you can make a joint application for Home Loan.

Before you purchase a property, you have to have a title and document search conducted by a competent advocate. You cannot do it yourself. You must use the services of a competent advocate. It is a professional job to be done with professional assistance.

You must also ask your advocate to help you check the approved layout plan, approved building plan, ownership documents, carryout search, etc. This is most essential.

• Carpet Area: This is the actual usable area of the apartment/building, which does not include the area of the walls.
• Built-up Area: This includes the area of the walls also.
• Super Built-up Area: This includes the built-up area, along with the area under common spaces such as the lobby, lifts, stairs, etc. This term is only applicable to multi-dwelling units.

You are eligible for a loan if you are an Indian citizen or a person of Indian Origin and are a salaried/ self- employed professional/ a businessman. Your loan eligibility will be determined by Roha Housing Finance on the basis of professional income, age, qualifications, number of dependents, co-applicant’s income, assets, liabilities, stability and continuity of occupation, savings and prior credit history. Further, the loan eligibility will also be dependent on the value of property selected by you.

We can fund up to 90% of the property value in case of Home Loan and up to 60% in case of Loan against Property. However, Roha Housing Finance funding norms may change from time to time and from property to property or based on the loan amount.

The prime security for the loan is by way of deposit of title deeds and/or such other collateral security as may be decided by Roha Housing Finance. The title of the property should be clear, marketable and free from any encumbrances.

Roha Housing finance offers a Semi fixed rate of interest from the day of first disbursement for a specified period as per the extant loan scheme. This rate is based on the interest rates prevailing at the time of availing the loan. Thereafter, for the residual loan tenure, the outstanding principal loan amount automatically moves to a floating rate of interest at the then prevailing rates of interest.

The customer’s loan will be disbursed after he has selected the property, applied for his Home Loan, submitted the requisite income and property documents, the property is technically and legally sound and customer has paid his own contribution towards the purchase of the property. The disbursement would be in Indian Rupees and made at the Roha Housing finance branch in India, as specified by him.

The cheque for the loan amount is drawn in favour of the Developer or the Seller (in case of a resale property) as the case may be. In case of an under-construction project, Roha Housing finance disburses the loan amounts proportionate to the stage of construction.

Property insurance is mandatory in order to protect your property against uncertainties like earthquake, fire or any damage and destruction due to natural and man-made calamities, during the tenure of the loan. Ideally, insure the property even after the tenure of the loan.

Once the loan amount is disbursed subject to eligibility, RHFPL will claim the subsidy benefit the subsidy for eligible borrowers from NHB (National Housing Bank). NHB checks the claim and releases the same to RHFPL.

For all eligible borrowers, the subsidy amount would be paid to RHFPL. Once RHFPL receives the interest subsidy, it will be credited upfront to the loan account and EMI will be readjusted. Normally this entire process takes 6 months to one year of loan disbursement.

A beneficiary family

• Provided that he / she does not own a pucca house (an all-weather dwelling unit) in his / her name in any part of India
• Provided also that in the case of a married couple, either of the spouses or both together in joint ownership will be eligible for a single house, subject to income eligibility of the household under the Scheme

• A beneficiary family will comprise husband, wife, unmarried sons and/or unmarried daughters
• An adult earning member (irrespective of marital status) can be treated as a separate household

The income norms for various Household categories are defined as under:

• EWS households/individuals with an annual income up to Rs. 3.00 lakh
• LIG households/individuals with an annual income more than Rs. 3.00 lakh and up to Rs. 6.00 lakh
• MIG I households/individuals with an annual income more than Rs.6.00 lakh and up to Rs.12.00 lakh
• MIG II households/individuals with an annual income more than Rs12.00 lakh to INR 18.00 lakh

Following documents needs to be submitted to avail PMAY subsidy scheme:

• Declaration Form (Stamp duty to be the same as Affidavit, as per State Laws)
• Permanent Account Number (PAN). If PAN is not assigned, Form 60 is required.
• Aadhaar Number all the applicants in the Beneficiary family (For MIG I & MIG II category)
• Income proof of the applicant [Applicable Income Proof documents – ITR or Form 16 (1 year)/ Salary Slip (Gross Monthly Salary*12)].

Once the loan amount is disbursed subject to eligibility, RHFPL will claim the subsidy benefit the subsidy for eligible borrowers from NHB (National Housing Bank).

For all eligible borrowers, the subsidy amount would be paid to RHFPL. Once RHFPL receives the interest subsidy, it will be credited upfront to the loan account and EMI will be readjusted.

There is no limit to the loan amount, however interest subsidy will be calculated on a maximum of Rs. 6 lacs for EWS/LIG, Rs. 9 lacs for MIG I and Rs. 12 lacs for MIG II.

The carpet area of houses being constructed or enhanced under this component of the mission should be up to 30 square metres and 60 square metres for EWS and LIG, respectively in order to avail of this credit linked subsidy. The beneficiary, at his/her discretion, can build a house of larger area but interest subvention would be limited to first Rs. 6 lakh only.

The maximum carpet area of the dwelling unit is 120 sq.m./1291.67 sq. feet for MIG I category and 150 sq.m./1614.59 sq. feet for MIG II category.

No, household cannot take the benefit under CLSS as spouse in beneficiary family/household already owns one property.

The PMAY subsidy is applicable for a maximum considered tenure of 20 years. RHFPL can offer tenor as per existing policy however, subsidy will be calculated, lower of 20 years or as per eligibility whichever is lower.

There is no limit to the loan amount, however interest subsidy will be calculated on a maximum of Rs. 6 lacs for EWS/LIG, Rs. 9 lacs for MIG I and Rs. 12 lacs for MIG II.

The applicable interest subsidy on the eligible loan amount for each of the category is given below:
a.)  EWS/LIG: 6.5%
b.)  MIG I: 4%
c.)  MIG II: 3%

Repairing work to the existing house can be undertaken in houses which are kutcha, semi pucca and require extensive renovation to make it into a pucca house. However, this is applicable only for applicants in the EWS and LIG categories.