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Purchasing A Property? Here Are The Documents For Getting Housing Loan
Posted by Pradeep Sadanapalli | August 13, 2006 | 211 views
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Loading ...You need to submit these documents to banks to get a housing loan:
I. For construction of a house
- Title deeds of the property.
- Prior title deeds for a period of at least 13 years.
- Encumbrance certificate for the past 13 years.
- Khatha certificate.
- Up-to-date tax paid receipts.
- Sanctioned plan and licence.
- Estimate cost of construction from a qualified engineer.
- Legal scrutiny report from the bank’s panel advocate.
II. For purchase of flat
- Original sale deed executed by the builder in favour of the purchaser.
- Title deeds of the builders/landowner for a period of 13 years.
- Development agreement between the builder and landowner, if applicable.
- Agreement of sale/construction agreement with the applicant.
- Sanctioned plan and licence.
- Encumbrance certificate for the past 13 years.
- Khatha certificate in the name of the builder/owner.
- Up-to-date tax paid receipts.
- Sketch of the flat.
- No-objection certificate from builders.
- Legal scrutiny report from bank’s panel advocate.
III. For purchase of a house
- Agreement of sale of property.
- Title deeds of the vendor for the past 13 years.
- Encumbrance certificate for the past 13 years.
- Khatha certificate in the name of the vendor.
- Up-to-date tax paid receipts.
- Sanctioned plan of the house.
- Valuation report from an approved valuer or bank’s panel.
- Legal scrutiny from bank’s panel advocate.
Other documents
- Income proof: (a) Latest salary certificate with details of deductions from the employer and Income Tax Assessment Order from the Department of Income Tax (if you have income in addition to salary) or Form 16 in the case of salaried persons. (b) Balance sheet as well as profit and loss account for the last three years.
- Income tax assessment orders and returns for the last three years.
- Brief note on the nature of business, year of establishment, present bankers, form of organisation and the capacity in which the applicant is engaged.
- Net worth of the applicant in the case of for self-employed/ businessmen).
- Age proof: Two passport-size photographs.
- Receipt of professional fee in respect of legal scrutiny report and valuation report payable by the applicant.
- Proof of residence.
- Documents as indicated in the legal scrutiny report other than the above, if any.
NOTE: NRIs need to furnish copies of passport, visa, employment certificate, work permit or salary certificate, W2 copies etc.
Sources:
The Hindu Property Plus
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