Required Documentation

Lenders require specific documents to determine your eligibility of receiving a home loan. The required documentation is different for different borrower types (i.e. businessmen, salaried employees and professionals). Although the basic documents required are same for different lenders, there are small variations specific to individual lenders. Here is a list of documents for different types of borrowers (source GOVT. OF INDIA):

Salaried Individuals:

• A copy of the first and last pages of the ration card or a copy of PAN/Telephone/Electricity bills as a proof of residence
• Salary slip/Form 16 A
• Details of investments (FD certificates, shares, any fixed asset, or any other documents providing information about your financial health)
• Two passport size photographs
• A photocopy of LIC policies with the latest premium payment receipts (if any)
• A copy of bank statement for the last six months
• Proof of Age üFinancial details of guarantor, wherever guaranty is required  

Self-employed/Businessman:

• A brief introduction of business/profession
• Balance sheet, profit & loss account and statement of income with Income Tax returns for the last 3 years certified by a Charted Accountant
• A copy of registration certificate of establishment under the Shops and Establishments Act/Factories Act üA copy of advance tax payments (if applicable)
• A copy of registration Certificate for deduction of profession Tax (if applicable)
• Bank statements of current and saving accounts for last 6 months
• A copy of the first and last pages of the ration card or a copy of PAN card/Telephone bill/Electricity bill
• A copy of certificate of Practice (if applicable)
• A copy of any bank loan account (if applicable)
• A copy of LIC policy (if applicable)
• A copy of investments (FD certificates, shares, any other fixed asset)
• Proof of age
• Financial details of guarantor, wherever guaranty is required
• Two passport size photographs of the applicant  

For Corporate borrower:

• Memorandum and articles of association
• Certificate of incorporation and starting of business
• Brief description of current and futurebusiness activity
• Audited financial report for last three financial years
• Certified photocopy of Sale Deed/Agreement for sale
• Certified photocopy of the site plan of the land and blue prints of the buildings approved by corporation/Municipality/Panchayat
• Copy of the land tax receipt/building tax receipt
• Copy of the allotment letter of Housing Board/Builder/Co-op. society
• Original NOC under the Provisions of Urban Land Ceiling (ULC) Act, if applicable
• Copy of order permitting Land Conversion in case of conversion of Agricultural land
• Non Encumbrance Certificate for 30 years
• Detailed cost estimate/Valuation report from approved valuer in case of outright purchase
• Feasibility report of the project
• Schedule of implementation of the project
• Future forecast of the project for the next three years
• Details of pending litigation if any, against and by the business entity  

Flat purchase from builder:

• Search and title report for the last 30 years
• Copy of "non-agricultural use" permission for the land from the collector
• 7/12 extract or property register card of the land under construction
• Index II extract of buyer's agreement with the builder, if available
• Copy of order under the ULC Act, if applicable
• Copy of building plans sanctioned by relevant authority
• Commencement certificate granted by Municipal Corporation/Nagar palika
• Development agreement between the owner of land and the builder
• Original copy of buyer's agreement with the builder
• Partnership deed or memorandum of association of the builder firm
• Details of projects executed by the builder in the past
• Building completion certificate (if available)
• The latest receipts of taxes paid    

Purchased property in a co-operative society:

• No objection certificate from the society
• 7/12 extract or property register card in the society's name
• Copy of "non-agricultural use" permission for the land from the collector üOriginal share certificate of the society
• Allotment letter from the society in buyer's name
• Copy of the lease deed, if executed
• Certificate of the registration of the society
• Copy of the bylaws of the society üSearch and title report for the last 30 years
• Copy of order under the ULC Act, if applicable
• Copy of the building plans sanctioned by the competent authority
• Commencement certificate granted by Municipal Corporation/Nagar palika
• The latest receipts of taxes paid üOriginal agreement to assign / deed of assignment

Construction on own land:

• Original sale deed of land and extract of Index II
• 7/12 extract or property register card in your name
• Copy of "non-agricultural use" permission for land from the collector, if applicable
• Search and title report (with the details of documents checked) for the last 30 years
• Copy of order under ULC Act, if applicable
• Copy of the building plans sanctioned by the competent authority
• Building permission granted by Municipal Corporation/Nagar palika
• The latest receipts of taxes paid
• Estimate of cost of construction certified by the architect