Sonu Sood has been helping stranded migrant labourers and COVID-19 warriors during corona lockdown, 48-year-old engineer-turned actor us known for his roles in films such as Singh is Kinng, Simmba, and Happy New Year. Sonu Sood has once again proved to be a messiah for the needy by mortgaging eight of his Juhu properties to raise a Rs 10 crore loan.
According to registration documents available with some financial companies, the actor has mortgaged two shops located on the ground floor and six flats in the Shiv Sagar CGHS in Juhu. The building is located along AB Nayar Road, near Iskcon Temple in Mumbai.
The flats include one unit each from the first to the sixth floor of the building.The lender is Standard Chartered Bank.The agreement was signed on September 15 and was registered on November 24, according to the document accessed by Zapkey.com.
As per the documents, a registration fee of Rs 5 lakh was paid to raise the Rs 10 crore loan.
The properties are jointly owned by Sonu Sood and his wife Sonali and have now been mortgaged in favour of Standard Chartered Bank. A revert on queries about the development is awaited from the actor.
Real estate experts point out that this is a loan raised against property and typically attracts an interest of 12-15 percent per annum, which is higher than a housing loan. The actor would also have to service both the interest and principal on this loan. Such loans are generally for a 10-15 year period.