After lending a helping hand to stranded migrant labourers and Covid-19 warriors, actor Sonu Sood has once again proved to be a messiah

Mumbai: After lending a helping hand to stranded migrant labourers and Covid-19 warriors, actor Sonu Sood has once again proved to be a messiah for the needy by mortgaging eight of his Juhu properties to raise Rs 10 crore loan.

Sonu Sood

The actor has mortgaged two shops located on the ground floor and six flats in the Shiv Sagar CGHS in Juhu.

As per the documents, a registration fee of Rs 5 lakh was paid to raise the Rs 10 crore loan.

Sonu Sood

The properties are jointly owned by Sonu Sood and his wife Sonali and have now been mortgaged in favour of Standard Chartered Bank.

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.