A commercial property mortgage is mostly sought by those who who are interested starting or expanding their establishment; basically those who believe in being their own boss. This step needs a certain level of courage and vision, which not many banks identify with. A few also invest in it to rent it out. It could be an office complex, a plot bought with the purpose of starting any retail business, apartment building, or even a warehouse. Sometimes, the profits made as rent or lease from these assets will be utilized to settle the loan. A marked difference can be seen with the application procedure as well as criteria of a commercial property when you compare it to that of a home loan. Even if you property is going to be used for both business and residential purpose, it is up to the bank to decide which loan would be meted out based on the ratio of space taken for both. But majority of financial institutes has made it easy for the customer to apply and avail the loan to start or further their business. If you are actively searching for a new office building to either shift your current enterprise, expand it or start a new business, DHFL is the place to get the required finance. Not only does the bank help you to get a customized commercial property loan, but also assist you to find and finalize a property.
i. Shop Extension Loan: DHFL’s Shop Extension Loan facilitates the addition of space to your current commercial property in use. It could be adding more rooms to the unit or building another shop attached to the old one or even adding a reception area. This will be approved on the basis of evaluation of the current business by an authorized civil engineering agency and if the required regulatory sanctions are in place.
ii. Shop Improvement Loan: The Shop Improvement Loan product offered by DHFL enable the repairs required inside and outside the commercial unit. it also entail essential renovations like compound paving, fixing windows, fixing grills, fixing partitions, flooring, electrical work, painting, plumbing works, roofing, tiling, waterproofing, wiring among others.
iii. Plot + Construction Loan: With this loan from DHFL, you can apply for a plot loan as well as a construction loan which will aid you with the backing needed to get a piece of land and build your own business unit in it.
iv. Construction Loan: DHFL also offers finance for you to construct your commercial building on the land you already own.
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