Directory Image
This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Privacy Policy.

Which Documents are required for Loan against Property?

Author: Tushar Singh
by Tushar Singh
Posted: Mar 15, 2019
proof voter @

A loan against property is a secured personal loan which helps you meet any type of personal or business related financial need. The loan is offered against the mortgage of a property which you own. The amount of loan depends on the value of the property as assessed by the lender. Applying for a loan against property is quite simple as the online platform allows online loan applications. However, to avail the loan, you need to meet the loan eligibility parameters. Moreover, a complete set of documents are also required to be submitted when availing the loan. Many borrowers are unaware of the complete list of documents which are required. Missing out on any document jeopardizes your loan application and might delay the sanction of the loan.

If you don’t have the complete idea of the documents required for a loan against property, here is the complete list of documents which you should submit –

If the loan is taken by a salaried employee

For salaried employees, the following documents are required –

  1. The loan against property application form which should be duly filled in
  2. Identity proof which can be your Voter ID Card, Aadhar Card, PAN Card, driving license, passport, etc.
  3. Age proof which can be your Voter ID Card, Aadhar Card, driving license, passport, PAN Card, etc.
  4. Address proof which can be your Voter ID Card, driving license, Aadhar Card, Passport, utility bills like phone bills, water bill, electricity bill, etc.
  5. PAN Card showing your PAN number
  6. Bank statement of the last 6 months
  7. Salary slips of the latest employment of the last six months
  8. Form 16
  9. Income Tax Returns of the last 2 or 3 years as demanded by the lender

If you are a businessman/firm/partnership business

  1. The loan against property application form which should be duly filled in
  2. Identity proof which can be your Voter ID Card, Aadhar Card, PAN Card, driving license, passport, etc.
  3. Age proof which can be your Voter ID Card, Aadhar Card, driving license, passport, PAN Card, etc.
  4. Address proof which can be your Voter ID Card, driving license, Aadhar Card, Passport, utility bills like phone bills, water bill, electricity bill, TAN allotment letter etc.
  5. Proof of the existence of the business which can be PAN Card of the business, GST registration document, the copy of the partnership deed for partnership firms, trade license, registration certificate of the business, certificate of practice if you are a self-employed professional
  6. PAN card of the business
  7. Income Tax returns of the last 3 years
  8. Bank statement of the last 6 months

Besides these documents, the documents of the property would also have to be submitted. These documents include the following –

  1. Registered sale deed of the property or conveyance deed or lease deed
  2. If the property has been sold in the previous years, the chain of the past sale deeds is also required to establish legal ownership of the property
  3. Latest house tax return
  4. An approved plan of the building issued by the municipal corporation

These are the main documents which are required when availing a loan against property and which should be kept handy for easy issuance of the loan.

About the Author

Tushar Sharma is a financial advisor with an experience of more than 6 years. He has worked with top-most financial firms and has been a visiting faculty at many reputed institutes in India.

Rate this Article
Leave a Comment
Author Thumbnail
Please or Join to add a comment.
Author: Tushar Singh

Tushar Singh

Flag of India
India

Member since: Jul 24, 2018
Total live articles: 3

Related Articles