A sanctuary of joy and beauty, seamlessly blending harmonious design elements to create an ethereal daily living experience. Where everyday feels like a vacation.

    Disclaimer: “Aaradhya OnePark” (“Project”) is being developed by MICL Creators LLP (“Promoter”) and is registered by the Promoter via MahaRERA registration no.P51800054477. The details of the said Project are available on the website of MahaRERA at under registered projects. All Brochures/ Leaflets/ Pamphlets/ ads/ walk through presentations/ master plan/ layout plan or any other document containing photographs, images, designs, plans, specifications, layout, height, dimensions, facilities, vegetation, features, furniture & fixtures, amenities and communication, are merely an artistic impression and imagination and may vary to actual project on site. The actual and physical features, amenities and facilities in the said Project or the flat will be in accordance with plans and specifications approved by the competent authorities. The said Project is mortgaged in favour of ICICI Bank Limited (“Lender”). No Objection Certificate from the Lender will be provided for sale of flat in the said Project, if required. T&C Apply.

    Home Buying Simplified With Pre-Approved Home Loans

    • MICL Group
    • April 11, 2022

    Imagine you have finally selected your dream house. You reach out to the real estate companies in Mumbai and then find out that you are not eligible for a home loan for the amount you need and so your home loan application got rejected. Or imagine another situation where the loan process took such a long time that the new project in Mumbai  that you wish to buy, was sold to someone else. Such are the nightmares of every potential home loan borrower. To eliminate these situations, a new way of lending has come to the picture which we call ‘Pre-approved home loans’.

    A home loan pre-approval is provided by a lender in writing, confirming that subject to certain specified conditions being met, you may be able to borrow up to a specified sum. This is also known as a ‘conditional offer’ of finance. When you receive your pre-approval – carefully check and ensure that you understand each of conditions and what must be done to meet these. Standard conditions as an example are; registered valuation satisfactory to the bank, copy of signed sale and purchase agreement satisfactory to the bank. To obtain a strong pre-approval, you should provide as much information/documentation as necessary when submitting your application. The strongest pre-approvals usually have the least number of conditions attached.

    You can go directly to your existing bank, or any other lender to submit a home loan application. This can usually be done with a bank lender at a branch, over the phone or online. Additionally, some banks have Mobile Mortgage Managers who can meet with you at a place of your choice on weekends and after-hours. A benefit of dealing directly with the bank is that you may get an outcome to your application earlier than via a broker.

    The advantages of Pre-Approved Home Loans
    1. Pre-approved home loans are not certain to be disbursed. This may happen if the property you have selected has some legal issues. If the legal title is not cleared or some govt approvals are not in place, then the bank may refuse to disburse the loan. The approval of the loan is just the first step of the loan, not the entire process.
    2. In a pre-approved loan, the first section of the loan procedure which is the borrower verification is done in advance. So, once the applicant selects the property, the lender must verify the property. So, the loan can be disbursed comparatively faster than the general home loan.
    3. It is possibly the worst feeling when you cannot have your dream home just because your home loan application is not granted. In such a condition, you cannot even go to the next lender very soon as it may affect adversely in your credit score.

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