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Leased / Rental Property Loan - Loan Calculation
 

Particulors of Leased / Rental Property & Loan Calculations
1. Total area leased out.
2. Rate per unit (i.e. sq. ft/sq. mt.) at which the premises is leased out.
3. Name, Address & Constitution of the Lessee.
4. Validity period of the lease agreement.
5. Residual lease period (in months).
6. Valuation of property mortgaged (as per bank's approved valuer's report). Valuation report should be of recent date.
7. Monthly rent as per lease agreement.
8. Whether the property tax is payable by the lessor or the monthly rent indicated in the lease deed is inclusive of  'property tax'.
9. Estimated amount of property tax payable by the lessor.
10. Amount of advance deposit.
11. Amount of any other statutory liability, if any.
12 . Viable amount of EMI (i.e. item no.7 - (propportionate amount of property tax + TDS + proportionate amount of any other statutory dues).
13. Repayment period in months (i.e residual lease period or 60 months, whichever is less).
14. Viable loan amount = (item 12 X applicable factor as per chart / 100) - item 10.
15. Maximum amount of loan permissble :
(i) 0.85 X {[(item 5 or 60 months, whichever is less) X item 7)] - (item 9 + item 10 + item 11).
OR
(ii) 50% of item item 6.
OR
(iii) Viable loan amount (item 14).

(i) OR (ii) OR (iii) whichever is less.

Note : In case the rent amount is not sufficient to sustain the loan amount then the viable equated installment should be taken as base and the loan amount should be reduced suitable as above.

 
 
 
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