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Simar Nagi | 03 May 2023

APF Number: Importance & Steps To Check APF Number Online

APF Number: Importance & Steps To Check APF Number Online

Table of Content:

  1. What Is An APF Number?​
  2. How Is The APF Number Assigned?
  3. Why Do Banks Grant APF Numbers?
  4. How To Check APF Number Online?
  5. What If The Project Does Not Possess An APF Number?

When you start your home buying process, the one thing that you and many others are unaware of is whether the project needs to have a valid APF number or not. Maybe some of you don't even know the apf full form. And in fact the reality is that it is important to consider that the project possesses all the mandatory approvals.

Want to know everything about the APF number in detail? Don't fret! We've got you covered. Dive into the blog and learn everything from the APF full form to how they are assigned.

What Is An APF Number?

The APF full form is “Approved Project Financial Number”.

Most banks and house financial institutions that offer home loans provide an APF number to the authorized builder of the house or project. It is a contributing factor to why many builders tie up with reputable banks. Suppose the developer's project does not possess an APF number issued by a bank from which you are getting a loan. In that case, it is your responsibility to collect the proper documentation for the project.

If the bank has a tie-up, then consider it an indication that the project has received all the mandatory approvals, and it is safe for you to invest in the project without hesitating about the credibility of the real estate developer. The Approved Project Financial Number serves as a quality assurance standard to represent that it is a safe investment. 

How Is The APF Number Assigned?

It is the duty of your developer to submit all the required documents, like a sale deed, title deed, NOCs, approved plans, etc., to prove that the project has all the required licenses. Apart from these legal documents, clearances from authorities such as the electricity board, pollution fire department etc are expected to be submitted as evidence. After the submission, banks analyze all these documents along with the KYC (know your customer) to check the credibility of the builder. After assessing the project's legal and technical viability, banks allocate an APF number. 

The allotment of an APF number works as an indicator that the project will be delivered on time, as promised by the developer. For home buyers, APF code is important to ask because it is a way of checking whether the project is registered and approved by banks or house finance companies or not. 

Why Do Banks Grant APF Numbers?

Banks mostly consider those builders who have successfully completed at least 3-4 projects and have a good reputation. The banks also consider the quality of construction work performed by the developer. 

Developers who are on the RBI's "negative list" are not granted APF numbers by banks or other housing financial institutions.

In the case of under-construction projects, the size should be mentioned in square feet, and an agreement should be duly signed between the developer and the bank or financial institution. If the construction period expires and the project is still not completed, banks or financial institutions can take strict action against the developer. 

How To Check APF Number Online? 

Follow the below steps to check your APF number online:

STEP 1: Visit the portal of the respective builder/the owner of the project.

STEP 2: Now search the APF number online for the project you are interested in.

If you are getting confused when checking the APF number online, you can directly connect with the concerned builder and ask for the APF number of the project.

What If The Project Does Not Possess An APF Number?

Having an APF number provides a sense of satisfaction to the buyer that the home has legal and technical credentials. But suppose your developer fails to provide you with the APF number. In that case, there is a high possibility that the project does not have either legal approval from the authorities or proper documentation. Your role as a homebuyer begins here! If the developers fail to provide you with the APF number, you should raise your concern and not finalize the deal.


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