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When you have a dream of owing your property, the next challenge is in achieving it. Propertybazaar.com is here to fulfill your property requirement, but we are also concern about how you can fulfill your property requirements.

Propertybazaar.com will help you to realize your long cherished dream of owning your property/home through hassle free and customer friendly home loans. Either you can fill out the given APPLY FOR HOME LOAN FORM or go through the information given regarding the eligibility, general information and documents required.

ELIGIBILITY AND GENERAL INFORMATION

  • The age eligibility is 21-65 years.
  • Repayment maximum 20 years ( including to excluding gestation period)
  • Gestation Period: For Construction of purchase of flats- Maximum 18 months or taking possession whichever is earlier.
  • Loan more than 20 lakhs are under non-priority

For houses/flats constructed by State Housing Boards: Maximum of 24 months or taking possession whichever is earlier. Accrued Interest has to be paid during the gestation period.

  • 75% of cost of construction OR 85% of Registration value for outright purchase as loan
  • Purchase of House: Age of the independent house should not be more than 25 years.
  • Age of the flat should not be more than 20 years.



ELIGIBILTY AND DOCUMENTS REQUIRED


FOR CUSTOMER TYPE


1. SALARIED INDIVIDUALS
  • Salary slip/Form 16 A.
  • A photocopy of the first and last pages of Ration card or copy of PAN/Telephone/Electricity bills.
  • A photocopy of Investments (FD Certificates, Shares, any fixed asset etc. or any other documents supporting the financial background of the borrower.
  • A photocopy of LIC policies with the latest premium payment receipts (if any).
  • Photographs (as applicable).
  • A photocopy of bank statement for the last six months.
  • Last pay certificate, Form 16 issued by the employer/ IT Returns/ Assessment orders.

 

2. SELF EMPLOYED/ BUSINESSMEN
  • A brief introduction of Business/Profession.
  • Balance Sheet, Profit and Loss account and statement of income with Income Tax returns for the last 3 years certified by a CA.
  • A photocopy of Advance Tax payments (if applicable).
  • A photocopy of Registration Certificate of estatblishment under shops and Establishments Act/Factories Act.
  • A photocopy of Registration Certificate for deduction of Profession Tax (if applicable).
  • Bank statements of current and saving accounts for the last 6 months.
  • A photocopy of Certificate of Practice (if applicable).
  • A photocopy of any bank loan (if applicable).
  • A photocopy of the first and last pages of the Ration card or a copy of PAN/Telephone/Electricity Bills.
  • A photocopy of LIC policy (if applicable).
  • A photocopy of investments (FD Certificates, Shares, any other fixed asset).
  • Income proof for the last 3 years supported by financial statements signed by Chartered  – income tax returns /assessment orders

 

3. AGRICULTURIST
  • For  Agriculturists, four times of  gross annual income as per certificate issued by  the  competent  Revenue Authority, supported by evidence of  land  holdings
  • 4 times the gross annual income (48 times of monthly income)
  • Income Tax Returns
  • Auditor Certificate
  • Estimates and other related approved documents
  • Maximum area-wise quantum of loan for acquisition or construction of new dwelling units is - rural - 25 lacs, semi-urban – 75 lacs, Urban – 150 lacs and Metro – 250 lacs.
  • Income Certificate by competent Revenue Authority in respect of  income from agricultural and allied activities


FOR PROPERTY TYPE


1. IF A FLAT IS PURCHASED FROM THE BUILDER
  • Original copy of your agreement with the builder.
  • 7/12 extract or property register card of the land under construction.
  • Index II extract of your agreement with the builder.
  • Copy of N.A. permission for the land from the collector.
  • Search and title report (with the details of documents) for the last 30 years.
  • Development agreement between the owner of land and the builder.
  • Copy of order under the Urban land Ceiling Act.
  • Copy of building plans sanctioned by the competent authority.
  • Commencement certificate granted by Corporation / Nagar Palika.
  • Building completion certificate (if available).
  • The latest receipts of taxes paid.
  • Partnership deed or memorandum of association of the builders firm.

 

2. IF THE PROPERTY IS BEING PURCHASED IS IN A COOPERATIVE SOCIETY
  • Original share certificate of the Society.
  • Allotment letter from the society in your name.
  • Copy of the lease deed, if executed.
  • Certificate of the registration of the society.
  • Copy of the byelaws of the society.
  • No objection certificate from the society.
  • 7/12 extract or property register card in the society's name.
  • Copy of N.A permission for the land from the collector.
  • Search and title report (with the details of documents) for the last 30 years.
  • Copy of order under the Urban Land ceiling Act.
  • Copy of the building plans sanctioned by the competent authority.
  • Commencement certificate granted by Corporation / Nagar Palika.
  • The latest receipts of taxes paid.
  • Original Agreement to assign / Deed of assignment.

 

3. IF CONSTRUCTING ON OWN LAND
  • Original sale deed of land and extract of Index II.
  • /12 extract or property register card in your name.
  • Copy of N.A. permission for land from the collector.
  • Search and title report (with the details of documents) for the last 30 years.
  • Copy of order under Urban Land Ceiling Act.
  • Copy of the building plans sanctioned by the competent authority.
  • Building permission granted by Corporation / Nagar Palika.
  • The latest receipts of taxes paid.
  • Estimate of cost of construction certified by the architect
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