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Real-Estate Developer & Project Finance
Developer / Project Finance
Structured finance for RERA-registered projects
Developer or project finance is a structured, secured facility for RERA-registered builders and developers — funding land acquisition, construction and last-mile completion of a real-estate project. Underwriting goes well beyond a balance sheet: lenders assess project approvals, sales velocity, the cost-to-completion and a TAC (technical, legal and financial appraisal), and disburse against construction milestones into a RERA-compliant escrow. As an intermediary, we structure the ask, package the project and match it to lenders comfortable with the geography and stage.
We are not a lender — the facility is sanctioned and disbursed by our partner bank, NBFC or fund at their discretion, against the project, its approvals and its cash flows. Our advisory is transparent; we are compensated by the lender, never by hidden charges.
Facility size*₹5 Cr – ₹500 Cr+
Interest rate*11%–16% p.a.
Tenure*3 – 7 yrs
Structure*RERA escrow
End-use*Land / build / last-mile
*Indicative and subject to change — the actual facility size, rate, tenure, structure and permitted end-use are set by the lender per RBI norms, the TAC appraisal and the project's approvals, sales velocity and RERA compliance. See the full disclaimer in the footer.
Who it's for
A facility built for developers
RERA-registered developers
Builders and developers whose project is registered with the state RERA authority.
Land-acquisition stage
Funding to acquire or aggregate land for an approved or near-approved project.
Under-construction projects
Construction finance drawn in tranches against verified milestones and cost-to-completion.
Last-mile / stuck projects
Completion funding to finish a stalled but viable project and deliver to homebuyers.
Features & benefits
Why developers structure project finance with us
Large, structured ticket
From ₹5 crore to ₹500 crore and beyond, sized to the project cost and cash flows.
Whole-lifecycle funding
One structure can span land acquisition, construction and last-mile completion.
RERA-compliant escrow
Collections and draw-downs flow through a mandated escrow, protecting homebuyers and lenders.
Milestone draw-downs
Funds are released in tranches against construction milestones verified by the lender's TAC.
Cash-flow underwriting
Sales velocity, receivables and cost-to-completion are read together, not just collateral value.
Lenders compared
One project pack, a written comparison across banks, NBFCs and funds, and an advisor you can reach by name.
Eligibility
What a project needs to qualify
| Criteria | Indicative requirement |
|---|---|
| RERA registration | Mandatory — the project must be registered with the relevant state RERA authority before draw-down |
| Developer track record | Delivered projects / experience in the geography; healthy promoter and entity credit |
| Project approvals | Land title, plan sanction, commencement / environmental clearances in place or near-term |
| TAC appraisal | Satisfactory technical, legal and financial appraisal (cost-to-completion, viability, sales velocity) |
| Escrow & security | RERA-compliant escrow set up; charge over project land, receivables and (often) a promoter guarantee |
| Entity | SPV, company, LLP or partnership holding the project — resident Indian promoters |
Eligibility is indicative and finally determined by the lender's policy, the TAC appraisal and the project's RERA status and approvals.
Documents
What you'll typically need
Entity & financials
- PAN & Aadhaar / KYC of promoters and directors
- SPV / company / LLP incorporation, MoA & AoA / deed
- Last 3 years' ITRs, audited financials & computation
- Last 12 months' bank statements (entity & promoters)
- Group track record & list of delivered projects
- Existing borrowings & sanction letters
Project & approvals
- RERA registration certificate & project page details
- Land title chain, mother deed & encumbrance certificate
- Sanctioned plan, commencement & environmental clearances
- Project cost & cost-to-completion estimate
- Sales / collection MIS & current sales velocity
- TAC (technical, legal & financial) appraisal inputs
Exact documents vary by lender, project stage and structure — we share a personalised checklist once we understand the project.
Rates, fees & charges
Indicative cost of project finance
| Item | Indicative* |
|---|---|
| Interest rate | 11% – 16% p.a. (project, stage & lender dependent) |
| Facility size | ₹5 crore to ₹500 crore and beyond (project-dependent) |
| Tenure | 3 – 7 years, aligned to the project's delivery and sell-through |
| Processing / structuring fee | 1% – 2% of facility + GST (lender dependent) |
| TAC, legal & valuation | At actuals — technical, legal & financial appraisal of the project |
| Escrow & monitoring | RERA-compliant escrow; periodic disbursal-monitoring charges as per sanction |
*Indicative as of the current period and subject to change without notice. Final rates, fees and structure are set by the lender in the sanction letter after the TAC appraisal.
How it works
From first call to disbursal —
four simple steps.
01
Share the project
Tell us the project, its RERA status, approvals and funding need — by phone or our web form.
02
Structure & match
We package the project and compare lenders on rate, structure and draw-down terms.
03
TAC appraisal & sanction
We coordinate the technical, legal and financial appraisal and the escrow set-up through to sanction.
04
Draw-down & beyond
Funds release in tranches against milestones — and we stay available through the project.
Key compliance & structure
How a project-finance facility is structured
RERA registration
The project must be registered with the state RERA authority — a precondition for sanction and draw-down.
Mandatory escrow
A separate escrow account is mandated; loan usage is strictly governed by RERA Section 4(2)(l)(D).
TAC appraisal
An independent technical, legal and financial appraisal validates cost-to-completion, title and viability.
Milestone draw-down
Funds are released in tranches against verified construction milestones, not as a single lump sum.
This is general information on how such facilities are typically structured under RERA, not legal or financial advice. The actual structure, escrow mechanism and covenants are set by the lender and applicable law — please confirm specifics with your legal and financial advisors.
Request a project-finance proposal
Project finance is structured to each project, so there is no standard EMI calculator. Share your project — RERA status, approvals, cost and funding need — and we'll come back with an indicative, structured proposal.
FAQs
Developer / project finance — questions, answered
The facility is for RERA-registered real-estate developers and builders. The project must be registered with the relevant state RERA authority, the developer should have a track record and healthy credit, and the project's approvals, sales velocity and cost-to-completion must stand up to the lender's TAC appraisal. The final call rests with the lender.
A structured facility can span the whole lifecycle — land acquisition (or aggregation) for an approved or near-approved project, construction finance drawn against milestones, and last-mile or completion funding to finish a stalled but viable project. The mix depends on the project's stage and the lender's structure.
Under RERA Section 4(2)(l)(D), a developer must deposit a defined share of the amounts collected from homebuyers into a separate escrow account, to be used only for that project's land and construction cost. Project-finance facilities are built around this mandated escrow — collections and draw-downs flow through it, which protects homebuyers and gives lenders visibility and control over how funds are used.
Facilities are indicatively ₹5 crore to ₹500 crore and beyond, sized to the project cost and cash flows, with tenures of around 3 to 7 years aligned to the project's delivery and sell-through. The rate is indicatively 11%–16% p.a. The exact ticket, tenure and rate are set by the lender after the TAC appraisal.
TAC stands for the technical, legal and financial appraisal of the project. Independent experts verify the construction plan and cost-to-completion (technical), the land title and approvals (legal), and the project's viability, sales velocity and cash flows (financial). A satisfactory TAC is central to sanction and to how draw-downs are released against milestones.
Security is typically a mortgage / charge over the project land and unsold inventory, an assignment of the project's receivables routed through the RERA-compliant escrow, and usually a promoter / corporate guarantee. The exact security package is structured by the lender to the project's stage and risk.
Project finance takes longer than a retail loan because the TAC appraisal, legal due diligence and escrow set-up are detailed. Indicatively it can run from a few weeks to a couple of months once the project pack is complete. Final timing depends on the project's approvals, the lender and how clean the title and documentation are.
Often, yes — provided the project is viable. Last-mile or completion funding is designed to finish a stalled but fundamentally sound RERA-registered project and deliver units to homebuyers. The lender will closely assess the remaining cost-to-completion, the unsold inventory, existing dues and the escrow position before structuring a facility.
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Ready to fund your project?
Get a structured project-finance proposal — free, with no obligation.
Share your RERA-registered project and funding need, and we'll structure the ask and compare lenders for you.