Loan against property (LAP) is also known as ‘Home Equity Loans‘ and is basically a kind of loan against the security of one’s property. LAP is designed to meet the financial needs of a person who already owns a house, which is free from any encumbrance (i.e. it is not given as security for any purpose)
DOCUMENTS REQUIRED FOR LOAN AGAINST PROPERTY
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| Photo Identity Proof: Any One from the following; Passport Pan Card Voters ID Card Driving License Aadhar Card |
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| Residence Address Proof: Any One from the following; Passport Utility Bill |
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| Residence Ownership Proof: Any One from the following; Property Documents Maintenance Bill Electricity Bill |
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| Income Proof: Latest 3 months Salary Slips and Form 16 (in case of Salaried) Latest 3 years Income Tax Returs including Computatin of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc (in case of Self Employed). |
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| Job Continuity Proof: Any One from the following; Current Employment Certificate Current Job Appointment letter (if it is more than 2 years) Experience Certificate (including your previous job certificate or appointment and relieving letter) |
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| Bank Statement: Latest 1 year statement where your salary is getting credited |
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| Property Documents: Property documents to be submitted based on the purchase of your dream home Copy of agreement executed / Sales Deed. Share Certificate Latest Maintenance Bill List of documents & sanction letter given by Existing Banker (If Applicable) Sale Deed TS1 Map 15 year FARD Valuation |
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| Advance Processing Cheque required to process loan documents for sanction | |
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| Investment Proof (if any): please submit if any investment like, Fixed Deposit, Shares, Fixed Assets, etc. |
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| 1 passport size color photograph | |
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| IF EXISTING LOANS: If any existing loan, please submit sanction letter, Payment Track Record. |
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| IF PROFESSIONAL: Please submit your Professional Degree Certificate. |
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| Office Address Proof: Any One from the following: Property Documents (if any) Maintenance Bill (if any) Utility Bill |
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| Office Ownership Proof (if any): Any One from the following: Property Documents Maintenance Bill Electricity Bill |
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| Business Existence Proof: Any One from the following: 3 years old Saral Copy Shop Establishment Act Any Tax Registration Copy Company Registration license |
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NOTE:- Also submit the Spouse proofs, ITR, KYC, Bank State