List of documents that are required to avail home loans in india
Upcoming SlideShare
Loading in...5
×
 

List of documents that are required to avail home loans in india

on

  • 2,789 views

The first step to successfully applying for a home loan is to get the loan documents in order. A flawless, complete paperwork ensures you get the loan smoothly and quickly. These documents help ...

The first step to successfully applying for a home loan is to get the loan documents in order. A flawless, complete paperwork ensures you get the loan smoothly and quickly. These documents help banks/HFCs in verifying your claims of employment, credit history, etc. so that they can gauge your financial position and credit worthiness.

Statistics

Views

Total Views
2,789
Views on SlideShare
2,334
Embed Views
455

Actions

Likes
0
Downloads
37
Comments
0

12 Embeds 455

http://nirrtigo.blogspot.in 399
http://nirrtigo.blogspot.com 41
http://nirrtigo.blogspot.ae 4
http://www.nirrtigo.blogspot.in 2
http://nirrtigo.blogspot.de 2
http://nirrtigo.blogspot.co.uk 1
http://nirrtigo.blogspot.ca 1
http://www.todayspecialoffers.com 1
http://www.nirrtigo.blogspot.com 1
http://pinterest.com 1
http://nirrtigo.blogspot.nl 1
http://nirrtigo.blogspot.kr 1
More...

Accessibility

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

List of documents that are required to avail home loans in india List of documents that are required to avail home loans in india Document Transcript

  • Documents required to avail home loan in IndiaAggregated and Prepared by: www.nirrtigo.comGreen Realtech Projects Pvt. LtdReal Estate Projects India | User Ratings & Reviews | Common Cause | Discussions | Research PageList of documents that are required to avail homeloans in India.The first step to successfully applying for a home loan is to get the loan documents in order. Aflawless, complete paperwork ensures you get the loan smoothly and quickly. These documentshelp banks/HFCs in verifying your claims of employment, credit history, etc. so that they cangauge your financial position and credit worthiness.The documents required for the processing of home loan vary according to different classes orcategories of applicants, such as salaried employee, self-employed, businessman or corporateborrower. Besides, the documents also vary depending upon the source from where you arepurchasing a property or if you are constructing a house on your own land. Typically, aproperty can be purchased in a co-operative society or from builder projects such as ParxLaureate Noida, BCC Bharat City, etc.Let’s take a look at the important documents required for various categories:A. For Salaried Individuals:1. Salary slip/Form 16 A2. A copy of the first and last pages of the ration card or a copy ofPAN/Telephone/Electricity bills as a proof of residence3. Details of investments (FD certificates, shares, any fixed asset, etc. or any otherdocuments supporting the financial background of the borrower)4. A photocopy of LIC policies with the latest premium payment receipts (if any)5. Passport size photographs (as applicable)6. A copy of bank statement for the last six months7. Age proof8. Financial details of guarantor, wherever guaranty is requiredSource: National Housing Bank
  • Documents required to avail home loan in IndiaAggregated and Prepared by: www.nirrtigo.comGreen Realtech Projects Pvt. LtdReal Estate Projects India | User Ratings & Reviews | Common Cause | Discussions | Research PageB. For Self-employed/Businessmen:1. A brief introduction of business/profession2. Balance sheet, profit & loss account and statement of income with Income Tax returnsfor the last 3 years certified by a CA3. A copy of advance tax payments (if applicable)4. A copy of Registration Certificate of establishment under the Shops and EstablishmentsAct/Factories Act5. A copy of Registration Certificate for deduction of Profession Tax (if applicable)6. Bank statements of current and saving accounts for the last 6 months7. A copy of Certificate of Practice (if applicable)8. A copy of any bank loan account (if applicable)9. A copy of the first and last pages of the ration card or a copy ofPAN/Telephone/Electricity bills10. A copy of LIC policy (if applicable)11. A copy of investments (FD certificates, shares, any other fixed asset)12. Age proof13. Financial details of guarantor, wherever guaranty is required14. Two passport size photographs of the applicantSource: National Housing Bank
  • Documents required to avail home loan in IndiaAggregated and Prepared by: www.nirrtigo.comGreen Realtech Projects Pvt. LtdReal Estate Projects India | User Ratings & Reviews | Common Cause | Discussions | Research PageC. For Corporate borrowers (i.e. companies, firms, etc.):1. Memorandum and articles of association.2. Certificate of incorporation and commencement of business.3. Brief description of busy activity: existing and proposed.4. Audited financials for last three financial years.5. Certified photocopy of Sale Deed/Agreement for Sale6. Certified photocopy of the site plan of the land and blue prints of the buildings dulyapproved by corporation/Municipality/Panchayat7. Original NOC under the Provisions of Urban Land Ceiling (ULC) Act, if applicable8. Copy of Order permitting Land Conversion in case of conversion of Agricultural land9. Non Encumbrance Certificate for 30 years10. Copy of the land tax receipt/building tax receipt11. Copy of the Allotment letter of Housing Board/Builder/Co-op. Society12. Detailed Cost Estimate/Valuation Report from approved valuer (In case of outrightpurchase of an existing house/flat)13. Feasibility report of the project indicating cost of the project; means of Financing;promoter contribution to the project as percentage of the total cost.14. Schedule of implementation of the project.15. Future projections for the next three years.16. Details of pending litigation if any, against and by the unit.Source: National Housing Bank
  • Documents required to avail home loan in IndiaAggregated and Prepared by: www.nirrtigo.comGreen Realtech Projects Pvt. LtdReal Estate Projects India | User Ratings & Reviews | Common Cause | Discussions | Research PageD. If a flat is to be purchased from the builder:1. Original copy of your agreement with the builder2. 7/12 extract or property register card of the land under construction.3. Index II extract of your agreement with the builder, if available4. Copy of non-agricultural use permission for the land from the collector, if applicable5. Search and title report (with the details of documents) for the last 30 years6. Development agreement between the owner of land and the builder7. Copy of order under the Urban land Ceiling Act, if applicable8. Copy of building plans sanctioned by the competent authority9. Commencement certificate granted by Municipal Corporation/Nagar Palika10. Building completion certificate (if available)11. The latest receipts of taxes paid12. Partnership deed or memorandum of association of the builder firm13. Details of projects executed by the builder in the pastSource: National Housing Bank
  • Documents required to avail home loan in IndiaAggregated and Prepared by: www.nirrtigo.comGreen Realtech Projects Pvt. LtdReal Estate Projects India | User Ratings & Reviews | Common Cause | Discussions | Research PageE. If the property is being purchased in a co-operative society:1. Original share certificate of the society2. Allotment letter from the society in your name3. Copy of the lease deed, if executed4. Certificate of the registration of the society5. Copy of the byelaws of the society6. No objection certificate from the society7. 7/12 extract or property register card in the societys name8. Copy of non-agricultural use permission for the land from the collector9. Search and title report (with the details of documents) for the last 30 years10. Copy of order under the Urban Land Ceiling (ULC) Act, if applicable11. Copy of the building plans sanctioned by the competent authority12. Commencement certificate granted by Municipal Corporation/Nagar Palika13. The latest receipts of taxes paid14. Original agreement to assign / deed of assignment.Source: National Housing Bank
  • Documents required to avail home loan in IndiaAggregated and Prepared by: www.nirrtigo.comGreen Realtech Projects Pvt. LtdReal Estate Projects India | User Ratings & Reviews | Common Cause | Discussions | Research PageF. If construction is to be done on your own land:1. Original sale deed of land and extract of Index II2. 7/12 extract or property register card in your name3. Copy of non-agricultural use permission for land from the collector, if applicable4. Search and title report (with the details of documents checked) for the last 30 years5. Copy of order under Urban Land Ceiling (ULC) Act, if applicable6. Copy of the building plans sanctioned by the competent authority7. Building permission granted by Municipal Corporation/Nagar Palika8. The latest receipts of taxes paid9. Estimate of cost of construction certified by the architect.Key Related Terms:7/12 extract: It is a document, which shows the names of the owners of the property. It containsdetails such as the Survey numbers, area, date from which the current owners names wereregistered as owners. The 7/12 extract is issued by the Tehsildar or the concerned landauthorities.Non-Encumbrance Certificate: Non-Encumbrance Certificate is issued for the purpose ofmortgaging the property for the purpose of seeking loans or for lease.Source: National Housing Bank
  • Documents required to avail home loan in IndiaAggregated and Prepared by: www.nirrtigo.comGreen Realtech Projects Pvt. LtdReal Estate Projects India | User Ratings & Reviews | Common Cause | Discussions | Research PageAbout NirrtiGoNirrtiGo is owned and founded by Green Realtech Projects Pvt. Ltd.NirrtiGo is an online real estate platform to find, discuss, review, rate,and track real estate & property in India.