Initial Screening

The customer would be guided by the officials of Nivara in terms of information on the products, key terms and conditions and the process once you show your intent of obtaining Loan against property from us.

Thus, Nivara would help in ascertaining the indicative loan eligibility subject to various checks basis Customer’s business/occupation, repayment capacity and cost of the property etc.,

Processing of Documents

Once the initial assessment is done, Nivara would facilitate the customer for necessary submission of formal application form with requisite documentation and processing fees.

Credit check would form an important part of the assessment of the credit worthiness and these would be based on Personal details (including name, address, occupation etc.,) and Credit history.

In addition, Customer Verification will be done by an officer from Nivara or by an authorised representative of Nivara, who would conduct review of the customer details submitted to reconfirm the field level checks. This would involve meeting the customer at residence and/or place of work.

Based on the credit assessment, in principle decision on the application will be communicated. If the decision is favourable, the sanction will be communicated subject to various other checks on property related documents.

Security Assessment

Customer will be required to submit property documents and approved plans for the purpose of Technical and Legal Assessment of the property. For your own protection, a comprehensive assessment will be carried out to establish that the said property is eligible for lending purpose.

  • Technical Assessment
    A qualified technical expert will carry out a comprehensive technical assessment by visiting the property to ascertain
    • Whether the property is constructed as per the approved Sanction plans
    • Whether the property constructed is complied with various building bye-laws,and
    • The valuation of property to arrive at the fair market value.
  • Legal Assessment
    An empanelled lawyer will examine the property documents including link documents to determine if the property documents provided by you are in order, and
    • To ascertain that the said property is eligible for lending purposes so as to create the security in favour of Nivara
    • To ensure that you have absolute, clear and marketable title to the property and the said property is free from all encumbrances and free from any liability whatsoever.

Disbursement Process

After completing the satisfactory assessment of customers’ credentials and property documents as mentioned in the previous sections, a sanction letter will be issued giving details of loan amount, tenure, interest rate, processing fee and other terms and conditions. After ensuring the realisation of the processing fee cheque, executing all the necessary documentation and completing all the relevant procedures, finally, the disbursement cheque will be issued to the borrower or any other third party depending on the nature of transaction.

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