Sanction Letter
15-05-
Lead No: S38633 Date:
2025
Applicant BHARATKUMAR PARMAR
Co-Applicant 1 - SHANABHAI AMARABHAI PARMAR
Co-Applicant 2 - ICHCHABEN SHANABHAI PARMAR
Residence 1896,VADVALU FALIYU, DHANKANIYA,ANARA, DHANKANIYA,ANARA, ANARA,KHEDA,KATHLAL, 387630,
Address: KATHLAL S.O, GUJARAT
1896VADVALU FALIYU, DHANKANIYAANARA, ANARAKHEDAKAYHALAL, 387630, KHEDA, KATHLAL S.O,
Property Address:
GUJARAT
Dear Sir/Madam,
Thank you for choosing IKFHFL as your partner for loan. With reference to the above application, we are pleased to inform you
that we have sanctioned you a loan facility as per terms and conditions mentioned below and overleaf.
Product Home loan Scheme HOME LOAN SELF CONSTRUCTION
Sanctioned Amount (₹) 500,000 Loan Tenure ( Months ) 96
Interest Type First 36 Months Fixed IKFHFL RPLR 18.85%
Spread -4.1% Rate of Interest ( p.a ) 14.75%
Monthly EMI (₹) 8901 Mode of Payment NACH
PF incl GST (₹) 2,950 Document Fee to be paid 7,375
Documentation Fee to be
7,375 Sanction Letter Validity 29-06-2025
deducted from Loan
APPLICANT - BHARATKUMAR PARMAR CO-APPLICANT 1 - SHANABHAI AMARABHAI PARMAR
CO-APPLICANT 2 - ICHCHABEN SHANABHAI PARMAR
IKF HOME FINANCE LIMITED
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Corporate Office: My Home Twitza, 11th Floor, Plot no. 30/A, survey no 83/1, Lumbini Avenue, Hitec City, Raidurg, Hyderabad- 500081
Toll Free No. | 18003093010 | customercare@ikfhomefinance.com | CIN: U65922AP2002PLC039417 Regd.Off: 40- 1-144,
Corporate Centre, MG Road, Vijayawada - 520010, AP, India. www.ikfhomefinance.com
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Sanction Condition if any:
1. • Subject to Loan amount not exceed 80% of Market value
2. • All property Owners to be on loan structure
3. • Applicable Mortgage charges to be borne by Borrower
4. • Register Mortgage deed to be executed in favour of IKF Home finance
5. • Loan cannot be closed before 12 months
6. • BM report has been documented with sign of verifier
7. • Repayment Through the Saving Bank Account of Bank of India –.BHARATKUMAR SHANABHAI PARMAR A/C No. 280310110004649
8. • April 2025 salary slip to be documented
9. • Subject to Legal and FCU report to be positive
10. • Co applicant 1 Shanabhai Amarabhai Parmar date of birth mismatch in pan card and aadhar card -dual date of birth affidavit to be documented
Please sign this letter as a token of your acceptance of the terms and condition mentioned above and overleaf and give us a signed copy of this
letter. However, the detailed terms and conditions shall be in accordance with the Loan Agreement to be signed in this respect which shall be
binding upon you and the disbursement shall be strictly subject to legal and technical clearance to be done by the company. Please feel free to
call us at our customer service toll free helpline - 18003093010 or write us at customercare@ikfhomefinance.com for any clarification or
assistance.
Yours Truly,
For IKF HOME FINANCE LIMITED
Authorized Signatory
I/We accept the terms and conditions of this Sanction Letter.
APPLICANT - BHARATKUMAR PARMAR CO-APPLICANT 1 - SHANABHAI AMARABHAI PARMAR
CO-APPLICANT 2 - ICHCHABEN SHANABHAI PARMAR
IKF HOME FINANCE LIMITED
Corporate Office: My Home Twitza, 11th Floor, Plot no. 30/A, survey no 83/1, Lumbini Avenue, Hitec City, Raidurg, Hyderabad- 500081
Toll Free No. | 18003093010 | customercare@ikfhomefinance.com | CIN: U65922AP2002PLC039417 Regd.Off: 40- 1-144,
Page 3 of 7
Terms & Conditions: Corporate Centre, MG Road, Vijayawada - 520010, AP, India. www.ikfhomefinance.com
1. The term 'Applicant' shall also include all co-applicants wherein applicable, except where the context implies otherwise and all references to the Company or shall
mean IKF HOME FINANCE LIMITED unless the context implies otherwise hereinafter referred to as the IKFHFL which expression shall, unless repugnant to the context or
meaning thereof, be deeded to include its successors in interest and assigns.
2. This letter of offer is valid as per policy, irrespective of any terms being modified during aforesaid period.
3. This letter should not be construed as giving rise to any binding obligation on the part of the company to provide the financial assistances/facilities, mentioned
overleaf. Unless the applicant has duly executed agreement and other transaction documents, in a form and manner as may be required by the company from time to
time including creation of the security.
4. The sanction is subject to legal scrutiny of title deeds/ documents and technical valuation of the property proposed to be mortgaged. The stand of the company
regarding title and value of property shall be considered final for the purpose of disbursement of the loan.
5. The applicant will create an Equitable Mortgage (Mortgage by Deposit of Title Deeds )/ Registered Mortgage of the property as may be stipulated by the company at
its sole discretion. The Loan will be secured by first mortgage of the property proposed for availing this loan and / or such other security as IKFHFL may find necessary
and acceptable. Such documents/report/evidence as may be required by IKFHFL shall be produced to ascertain that the property to be mortgaged with IKFHFL has a
clear and marketable title. The original title deed/s of the property(ies) proposed to be mortgaged shall be deposited by the applicant with the company for securing
the loan which shall remain with the company till the pendency of any of the Loan and/or its interest etc .
6. Any other document as suggested by legal shall be provided by the applicant before disbursal of the loan facility without which the company shall have the right to
refuse the disbursement of the Loan or any part thereof and any processing charges as might have been received till such time shall stand forfeited.
7. Loan will be disbursed in stages on the basis of work progress certificate/report of the technical valuer (in case of construction) and directly to the seller (in case of
purchase) OR the Financial Institution (in case of transfer or foreclosure from other banks or financial institutions) or borrower (in case of refinance or Loan against
property) on the request from the borrower.
8. The loan will not be disbursed in part or full until own contribution (margin) has been paid in full .i.e. the cost of the dwelling unit less loan sanctioned by.
9. The applicant shall be required to inform IKFHFL in writing about any changes in correspondence address, change in employment, loss of job, business, profession, as
the case maybe immediately after such change/loss , notify the causes of delay, loss /damage to the property, notify the additions / alterations to the property.
10. The borrower is prohibited from using the loan amount or any part thereof for any purpose other than for which it has been sanctioned.
11. The loan amount has been fixed, inter alia on the assumption that the cost of the dwelling unit to be purchased or constructed will be as estimated in the application.
In the event of the cost actually incurred being less, IKFHFL reserves the right to suitably reduce the loan amount.
12. Notwithstanding anything stated elsewhere in this letter or otherwise, the facilities mentioned overleaf will be available solely at company's discretion and subject to
compliance of all formalities and documentation as may be specified /required by the company. In the event of any non-compliance of/with the same, all the fees paid
to IKFHFL will be non-refundable.
13. Acceptance of this letter is a confirmation that, the applicant has read and understood the contents as mentioned aforesaid and it also confirms that the applicant
has not been promised any free gifts/discounts or any other commitment whatsoever which is not documented in the loan agreement with the company. It is further
confirmed that no cash/ bearer cheque has been collected from the applicant with respect to the loan.
14. IKFHFL may revoke in part or in full or withdraw/stop financial assistance at any stage without any notice or giving any reasons for any purpose whatsoever. Without
prejudice to the aforesaid this sanction shall stand revoked in the event of any material change in the proposal/application/facts on the basis of which the loan has
been sanctioned.
15. The rate of interest indicated above is the current rate of interest applicable on the loan. The actual interest rate chargeable on the loan would be as per prevailing
on the date of disbursement of the loan.
16. The rate of interest applicable to the facilities shall be 1st twelve months Fixed rate and floating rate thereafter based on the RPLR (Retail Prime Lending Rate)
prevailing on the date/s of disbursement. The company shall review and, if considered necessary, revise the RPLR at any time and from time to time as per its policy,
market conditions and/or applicable laws and regulations, if any during the tenor of the loan at its sole discretion.
17. In case of any revision in rates as mentioned in above clause, EMI amount and/or tenure of repayment may be varied at the sole discretion of the company.
18. The EMIs, Pre EMI interest are to be paid on or before 5th (fifth) / 10th (Tenth) day of every month for the said month.
19. All the loans linked to each other and related property documents will not be released till the time,all the loans are closed in the books of IKFHFL.
20. A loan agreement on terms acceptable to and other documents in relation thereof shall be executed by the borrower. The terms in the loan agreement shall
supersede all previous communications in respect of the finance facility.
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APPLICANT - BHARATKUMAR PARMAR CO-APPLICANT 1 - SHANABHAI AMARABHAI PARMAR
CO-APPLICANT 2 - ICHCHABEN SHANABHAI PARMAR
IKF HOME FINANCE LIMITED
Corporate Office: My Home Twitza, 11th Floor, Plot no. 30/A, survey no 83/1, Lumbini Avenue, Hitec City, Raidurg, Hyderabad- 500081
Toll Free No. | 18003093010 | customercare@ikfhomefinance.com | CIN: U65922AP2002PLC039417 Regd.Off: 40- 1-144,
Corporate Centre, MG Road, Vijayawada - 520010, AP, India. www.ikfhomefinance.com
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21. Security should be fully insured for all the risks and charges and should be noted on the policy at borrower's cost.
22. In case of composite loan (Land + Construction loan), at the time of first disbursement of construction loan, customer has to submit the approved construction
permission and building plan from competent authority. Also in the event of failure to produce the approved construction permission and building plan, IKFHFL has right
to increase the rate of interest by 2% for construction loan and customer supposed to submit the certified engineer attested draft plan cum estimations to be provided.
23. All statutory levies like Stamp duty, Registration Charges fee or taxes applicable from time to time will have to be borne by the applicant .In addition to the Stamp
Duty, Registration Charges, the applicant is also required to pay to IKFHFL the charges paid to CERSAI for Creation/Modification of Charge/Satisfaction of Charge, as
applicable from time to time. The applicant is also required to pay other applicable charges as per the IKFHFL tariff schedule updated/as may be updated on IKFHFL from
time to time .
24. If the monthly installments or any other payment/s due are not paid on or before the due date a substitute interest of 2.5% p.m. shall be charged for the period of
default with compounding at monthly rests. Failure to send notice for payment or deposit of post dated cheque shall not serve as a reason for non-payment of monthly
installments.
25. All insurance policies are effective from the date of certificate issuance.
26. Apart from these General Terms and Conditions, special conditions (if any) as written in the main sanction prevail.
27. In case of Composite loan ( Land Purchase + Construction Loan) commencement of construction of the house/ residential unit, on the said property should be within
36(thirty six) months from the month of first disbursal of the said loan and shall complete the construction within 60(sixty) months from month of first disbursal of the
said loan. IKFHFL has further rights to withhold the future disbursals, if any, and down size or recall the loan amount, in case there is failure to start the construction within
36 months and/or unexplained delay in completion of the construction and/or construction over the said property is not as per applicable building bylaws/sanction
building plan. Also in the event of failure to commence of construction within a period of 36 month and /or completion of construction within 60 months from the date of
first disbursal, IKFHFL will be at liberty to classify the said loan as Non-Home Loan and reset the applicable rate of interest as per the prevalent rate of interest for non-
home loan and in accordance with the risk adjusted pricing policy of IKFHFL subsequent to such classification.
28. No Loan closure allowed within 12 months from the date of first disbursement.
29. For Home Loan - Purchase - New / Resale, Under-construction purchase, Composite Loans, LAP Commercial Purchases where registration cannot be Done/ is not
done due to issue related to seller or local govt. policies or statutory issues with SRO offices, Refund will be done subject to payment or deduction of 1% + GST on total loan
amount as loan cancellation fee , however Pre-EMI has to be paid by the borrower.
30. Refund of documentation fee as Mentioned in the Point no 29 will be done if loan account cancelled within 45 days from the date of first disbursement. Otherwise
Complete Documentation Fee is non-refundable
31. Complete Documentation Fee is non-refundable for products Home Improvement & Renovation Loans, Home Loan - Self Construction, Balance Transfer, Loan Against
Property & MSME
32. In case of self-Construction loan, borrower must complete the construction within 12 months from the date of first disbursal of the saide loan. IKFHFL has further rights
to withhold the future disbursals, if any and downsize or recall the loan amount, in case there is failure to complete the construction within 12 months and/or unexplained
delay in completion of the construction and/or construction over the said property is not as per the applicable building bylaws/sanction building plan. IKFHFL will be at
liberty to classify the said loan as Non-Home Loan and reset the applicable rate of interest as per the prevalent rate of interest for non-home loan and in accordance
with the risk adjusted pricing policy of IKFHFL subsequent to such classification.
I/We accept the terms and conditions of this Sanction Letter.
Applicant/Co-
Name Signature Date
Applicant
Applicant BHARATKUMAR PARMAR
Co-Applicant 1 SHANABHAI AMARABHAI PARMAR
Co-Applicant 2 ICHCHABEN SHANABHAI PARMAR
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IKF HOME FINANCE LIMITED
Corporate Office: My Home Twitza, 11th Floor, Plot no. 30/A, survey no 83/1, Lumbini Avenue, Hitec City, Raidurg, Hyderabad- 500081
Toll Free No. | 18003093010 | customercare@ikfhomefinance.com | CIN: U65922AP2002PLC039417 Regd.Off: 40- 1-144,
Corporate Centre, MG Road, Vijayawada - 520010, AP, India. www.ikfhomefinance.com
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