The loan will be disbursed after you identify and select the property or home
that you are purchasing and on your submission of the requisite legal documents.
While you may be under the impression that the list of documents asked for is rather
extensive, please note that it is for your own good. Each and every single document asked
for will be verified and checked to ensure your safety.
This may take some time but we want to ensure a clear title and will complete all the
legal and technical verifications to ensure that you have full rights to your home.
The 230 A Clearance of the seller and / or 37I clearance from the appropriate income tax
authorities (if applicable) is also needed.
On satisfactory completion of the above, on registration of the conveyance deed and on the
investment of your own contribution, the loan amount (as warranted by the stage of
construction) will be disbursed by ICICI.
The disbursement will be in favour of the builder/seller.
