What is an APF number?
APF number refers to the Approved Project Financial number or code and this is provided by various financing companies in India that are involved with housing and related developments. This particular code is given to the authorized builder of a house, building, or similar project.
When a person for example wants to check on houses, condominiums, and similar buildings, it is important to know if they have the appropriate APF code or number. A building that has an APF number literally means that the project that built it has been duly authorized by one or several housing finance companies. On the part of the home-buyer or condominium-renter for example, finding a living space with a corresponding APF number is a good indicator that this particular space was able to go through the legal process of registration and project approval. If a building for example doesn’t have an APF number, people may want to re-check why this is so because it may be an indication that the building is not registered or has not gotten approval from proper housing authorities.
On the part of the builder, securing an APF number for a building project basically legitimizes his/her business. The APF number is a requirement in housing projects and having one makes it easy for builders and contractors to let people know that a project was legally approved and registered.
It is common that many banks may ask for the owner or builder regarding the APF number of a building. This is one way of checking if a particular property is duly registered and approved by various accredited housing finance companies. Many banks also become the providers of housing finance and they give the appropriate APF number to registered and legitimate builders. When a new housing project is planned for example, the contractors and developers must seek approval from housing finance companies or banks and get their corresponding APF number.