ABHIJEET PARIKH (Bcom LLB MBA) 30 December 2011

Query: project finance

Respected Members

I have Query in mind ......

I had purchsed a plot of land in name of my Father in the region of Andhra-Pradesh Closer to Banglore

The Title of the property is clear and my fathers name is displayed in its EC - Card and property card ...

The status of Plot is agriculture now and I will be applying For NA

Now I have Following Query

1. I want to develop this plot and make resort over there ..... and I want to get some financial assistance from Banks/Financial Institution for its development how to go about it ... what will be the documentation requirement to get the financial assistance or loan

2. As said plot is in individuals name what kind of entity formation ie LLP HUF or Pvt co will help me to get maximum financial assitance for the resort project.....

Regards

Abhijeet

Reply Follow

1 Replies

Surendra Gupta (Banker) 30 December 2011

As the plot is in individual name, it is better if you approach a bank for loan in the name of sole proprietory concern. The consideration of the loan by the bank depends on whether the project is technically feasible & economically viable. You have to prepare a project report and submit the same to the bank alongwith loan application