Construction finance for residential and commercial development, LRD on completed Grade-A commercial assets, and inventory finance for post-OC unsold stock. RERA-compliant structures across all major Indian metros.
BIG LOANS arranges ₹100 crore-and-above debt for Indian real estate — across residential (greenfield projects, mid-construction, last-mile), commercial (Grade-A office, IT-parks, retail malls), and specialty (warehousing, data centres). Three product structures dominate: construction finance with tranche-based disbursement against milestones (RERA-compliant); lease rental discounting on completed commercial assets with long-term lease income; and inventory finance against post-OC unsold residential stock. The lender universe is real-estate-focused: HDFC Capital, Piramal, Kotak Real Estate, PNB Housing on the NBFC side; private banks for top-tier developers; AIF credit funds for last-mile and structured deals.
Indian real estate debt is dominated by specialist NBFCs and AIF credit funds rather than mainstream banks. PSU banks largely exited construction finance after 2018; private banks fund only top-3 developers in each metro. The bulk of construction-finance lending sits with HDFC Capital, Piramal, Kotak Real Estate, PNB Housing, Edelweiss, Brookfield India, Indiabulls Housing legacy book holders.
RERA (Real Estate Regulation Act) mandates escrow of 70% of project receivables, which aligns with lender requirements. Construction finance now uniformly uses RERA escrow as the cash-flow waterfall mechanism. LRD on completed assets is the cleaner product — strong tenant covenants, contractually committed cash flow, longer tenor.
Common funding situations in Indian real estate.
New residential project on freehold or leasehold land with RERA registration. Senior construction finance from sanction to OC, ₹100-800 Cr.
IT-park, business park, office complex with pre-lease commitments. Lower pricing because cash-flow visibility is higher.
Mall with anchor tenant pre-commitments. Combined with LRD on completion for long-tenor refinance at substantially lower pricing.
Existing project 70-95% complete, original loan exhausted. Last-mile finance to OC, often at premium pricing from specialty NBFCs and AIFs.
Loan against post-OC unsold inventory at 50-60% of realisable value. Refinances higher-cost construction debt.
Long-tenor LRD on completed Grade-A office leased to tier-1 tenants. Up to 90% of net rentals, 15-year tenor.
Real estate has the most specialized product set in BIG LOANS' product suite.
Real estate debt is dominated by specialist NBFCs and AIF credit funds. Banks participate selectively for top-tier developers.
HDFC Capital, Piramal Capital, Kotak Real Estate, PNB Housing, LIC Housing — anchor most Indian RE debt.
Brookfield India, Apollo India, Edelweiss, ASK, KKR Credit — active for last-mile, structured deals, distressed acquisitions.
HDFC Bank, ICICI, Axis — fund only top-3 developers in each metro (Prestige, Brigade, Sobha, DLF, Godrej, Lodha-level).
Largely exited construction finance post-2018; participate selectively in LRD and inventory finance for AAA-rated developers.
Active for smaller construction finance and last-mile deals (₹100-300 Cr), particularly in NCR and Mumbai.
Same 5-stage process for any large-ticket corporate debt mandate, applied to real estate specifics.
NDA, then a short call to understand the business model, key financial drivers, capital need. Sector-specific risk factors mapped early.
Optimal facility mix, tenor, security. Lender shortlist tuned to sector appetite — banks for vanilla, NBFCs / AIFs for specialty structures.
Sector-grade Information Memorandum, financial model, market analysis. Pitched to shortlisted lenders in parallel.
Multiple sanctions negotiated in parallel on pricing, covenants, security. Final lender(s) selected.
Loan agreement, security creation, CPs satisfied, drawdown. Sector-specific compliances (RERA, FEMA, SEBI, etc.) handled along the way.
Share a one-page brief on your business and funding need. We respond within one working day with feasibility, structuring and lender shortlist tuned to your sector.