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Loan Against Property in Delhi: Overview_WC

Overview of a Loan Against Property in Delhi

Delhi, the capital city of India, is well known for its heritage and lifestyle. Because of the numerous financial service opportunities this city provides, many people from all over the country make Delhi their home. New Delhi is an ideal place for politics, IT, education, business and health. Furthermore, the emerging startup culture in Delhi has raised the demand for properties and homeownership.

A Loan Against Property (LAP) is a type of loan where you can borrow money by using a property you own as security. It can be a house or a commercial property. With Loan Against Property, you can get sizeable sanctions, as high as Rs.5 Crores*, depending on your eligibility. You have up to 17 years to repay the loan. The process is easy and requires only a few documents to fulfill the Loan Against Property Criteria in Delhi. You can even get the money in your account within 72 hours* after submitting the necessary paperwork.

Bajaj Housing Finance provides Loan Against Property in Delhi that can help you fulfill various needs, such as expanding your business, covering working capital requirements, and even debt consolidation.

Loan Against Property in Delhi: Features and Benefits_WC

Features and Benefits​​ of ​a ​Loan Against Property in Delhi

Long Repayment Tenor

Borrowers can take advantage of sizeable loan amounts with an extended period of repayment. The tenor, basis your eligibility, can range up to 17 years.

Suitable for all Purposes

You can avail of a Loan Against Property to meet a variety of personal and professional needs, such as home renovation and business expansion.

Low Interest Rates

Bajaj Housing Finance offers a competitive interest rate on a Loan Against Property. Those with an existing loan can switch to a lower interest rate by transferring the balance to us.

Online Application Form

The application process for a Loan Against Property is an easy one, which requires the borrower to provide a few documents and personal and income related details for prompt loan approval.

Loan Against Property in Delhi: Documents Required_WC

​Documents Required​​ for a Loan Against Property in Delhi

The documents*** necessary for a successful loan application process while taking a mortgage loan in Delhi are as below.

  • Proof of identity and residence
  • Mandatory documents such as PAN Card or Form 60
  • Evidence of income such as last 3 months’ salary slips for salaried applicants, whereas proof of business vintage for self-employed applicants
  • Property documentation

***Additional documents may be requested at the time of loan processing.

Eligibility Criteria for Loan Against Property in Delhi_WC

Eligibility Criteria for Loan Against Property in Delhi

To be eligible for the loan, you need to meet certain criteria:

  • Employment: You should be employed by a public or private sector company, or an MNC, and have a minimum of 3 years of work experience.
  • Steady Income: You must be able to demonstrate a consistent income from a business that has been operating for at least 5 years or more.
  • City of Residence and Property Ownership: The loan is available for residents of cities such as Delhi, Mumbai, Bangalore, Ahmedabad, Pune, and others. Additionally, you should own a property in one of these cities that can be used as collateral for the loan.
  • Age Limit: If you are a salaried employee, you must within 28 and 60 years** to apply for a Loan Against Property in Delhi. If you are self-employed, you must be within 25 and 70 years**.

These requirements ensure that you have a stable job and a reliable source of income before granting you the loan. The city limitation is to ensure that the property used as collateral is easily accessible for valuation and other necessary procedures.

**The upper age limit is considered as the age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.

Loan Against Property in Delhi: How to Apply_Wc

How to Apply for a Loan Against Property in Delhi

  1. To apply, enter all the requested details in the online application form
  2. Once the form is filled in and submitted, our representative will contact you to proceed with your Loan Against Property application. You will need to submit documents to support claims made in the form
  3. The property and your profile are then verified, and post-approval, you can receive funds within just 72 hours*

*Terms and conditions apply

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