Loan against Industrial Property is very sensitive kind of funding. There are controversies regarding Industrial Property Funding and its usage.
In NCR Industrial Property locates in Gurgaon ( Gurugram ), Noida, Faridabad, Ghaziabad and even in some areas of Delhi. Industrial property has been allotted by the authorities only to those who owns or operates Industry. In many cases people let out their Industrial properties to other business owners which raised little hassle for Bank to fund , but that doesn’t mean banks don’t fund Industrial Rented Property Loans. Banks /NBFC funds Industrial Rented Property with the NOC from Tenant
And the next is PTM- permission to mortgage from the authority required in case of Industrial Loans
In Loan Against Industrial Properties- owner have to take permission from the authorities to Avail Loan Against Industrial Property. And if its rented to other business owner, than NOC from the tenant also required in addition to PTM. Although PTM is very easy to get from those Industrial authorities , once they verified if there is no finance from Industrial authorities or other banks they issue the second charge to the Lender. Even in Lease title properties PTM is also required in case of Loan Against Residential Properties also.
Industry Loan Type – There is multiple usage of Industrial Property. It can be used for Loan for Industrial, Loan for Heavy Industry, Commercial Loan, Institutional Loan, or Loan for Warehouse purpose. Each uses need to have permission for that particular usage from the Authority.
Different Banks and NBFC’s in the market offer funding according to their convenience. Few banks/nbfc’s don’t fund Heavy Machinery Units whereas few other’s can fund those easily. So it is advisable not to go for particular Bank/NBFC for Industrial funding. Always good to approach DSA for Industrial Loan like ; INRCREDIT.COM for multiple options under one -roof for your Industrial Property Loan.
Read more info about the loan against property in gurgaon https://www.inrcredit.com/loan-against-property
Source: https://www.prlog.org/12807052-all-purpose-loan-loan-against-industrial-property.html