Documents Required for Loan Against Property

List of Documents Required for a Loan Against Property

When you apply for a Loan Against Property, you need to submit a few supporting documents to verify your eligibility and to carry out a property assessment. There are specific documents required for a mortgage loan, which include:

Loan Application Form

A duly filled loan application form is the first document that lenders will appraise since it forms the basis for the subsequent verification process. The details you supply here will be validated later, so fill the form carefully furnishing accurate information.

Proof of Identity

You need to submit proof of identification, such as an Aadhaar Card, a Driving License, Voter ID, and Passport. Identity documents are a must-have to facilitate the Loan Against Property application process. Also, note that PAN Card and Form 97 are mandatory documents that have to be submitted.

Residence Proof

Lenders need address proof to confirm ownership of the property where an applicant lives. This can be done through Aadhaar Card, Voter ID, property documents, maintenance bills, or electricity bills.

Income Proof

Income is a key determinant of your ability to make timely loan repayments. Hence, one has to produce proof of income like the latest salary slips for the last three months, letters of increment or promotion, Income Tax Returns, Form 130 and a certified letter from the employer.

Job Continuity Proof

Generally, lenders may ask for a job appointment letter, experience certificate, or employment certificate as proof of job continuity.

Bank Account Statements

To indicate one’s income and current repayment pattern, salaried applicants are required to submit salary account statements for the past six months. And if you are a self-employed person, you need to show bank statements for the previous year.

Existing Loan Records

In case, you are paying off other loans, you have to substantiate it with a sanction letter of your existing loans along with their payment records. Your loan history has a strong bearing on the property loan application whilst establishing loan eligibility.

Proof of Investments

Any investments in your financial portfolio, such as fixed deposits or shares, have to be presented with proper documentation for the same.

Property Documents

Lenders seek copies of the property documents during the property assessment and verification stage. They normally ask for the sale deed, agreement papers, maintenance bill, latest water tax, municipal taxes, and other related papers.

Processing Cheque

It is mandatory to issue a processing cheque to begin the loan approval process. The processing fee is likely to vary among lenders.

Business Existence Proof

Individuals who own a business are required to submit relevant paperwork to prove the existence of their business. Documents such as a sales deed, copies of tax registration, and a company registration license are accepted as proof of business. Lenders also call for audited financials, income statements, profit and loss statements, and balance sheets of the company during loan processing.

Note: Additional documents may be required at the time of loan processing.

Loan Against Property Documents for Salaried Applicants

Type of Document	Salaried Applicant
Mandatory Documents	PAN Card or Form 97 (if the applicant does not have a PAN Card) (Note: PAN Card is mandatory for financial applicants/co applicants)
Proof of Identity	Valid Indian Passport Driving Licence Election/Voter’s Identity Card issued by the Election Commission of India Job Card issued under NREGA, duly signed by an officer of the State Government Letter issued by the National Population Register containing the name, address, and photograph of the cardholder Proof of possession of Aadhaar Number (to be obtained voluntarily)
Proof of Current Residence	Valid Indian Passport Driving Licence Election/Voter’s Identity Card issued by the Election Commission of India Job Card issued under NREGA, duly signed by an officer of the State Government Letter issued by the National Population Register (NPR) containing name and address Proof of possession of Aadhaar Number (to be obtained voluntarily)
Date of Birth	Passport PAN Card Driving Licence Election/Voter’s Identity Card issued by the Election Commission of India Job Card issued under NREGA, duly signed by an officer of the State Government Letter issued by the National Population Register (NPR) containing name and address Aadhaar Card (to be obtained voluntarily) Birth Certificate
Proof of Income	Last 3 months' salary slips Last 12 months' bank statements (consent to fetch banking from account aggregator) showing salary credits Bonus pay slip along with bank credits Employment Contract/Appointment Letter in case current employment is less than a year old
Property Documents	Title Deeds including previous chain of the property documents
Additional Documents	Passport-size photographs of all applicants and co-applicants. Proof of own contribution Bank statements of the last 6 months showing repayment of loans

Note: Additional documents may be required during loan processing.

List of Documents for Loan Against Property for Self-employed Applicants

Type of Document	Self-Employed Applicant
Mandatory Documents	PAN Card or Form 97 (if the applicant does not have a PAN Card) Note: PAN Card is mandatory for financial applicants/co-applicants
Proof of Identity	Valid Indian Passport Driving Licence Election/Voter’s Identity Card issued by the Election Commission of India Job Card issued under NREGA, duly signed by an officer of the State Government Letter issued by the National Population Register containing the name, address, and photograph of the cardholder Proof of possession of Aadhaar Number (to be obtained voluntarily) Proof of Identity for Non-Individuals Udyam Registration Certificate (URC) issued by the Government Complete Income Tax Returns duly authenticated/acknowledged by the income tax authorities GST Certificate/Registration document issued by Sales/Service/Professional Tax authorities Utility bills such as electricity, water, landline telephone bills, gas, etc. in the name of the entity
Proof of Current Residence	Valid Indian Passport Driving Licence Election/Voter’s Identity Card issued by the Election Commission of India Job Card issued under NREGA, duly signed by an officer of the State Government Letter issued by the National Population Register (NPR) containing name and address Proof of possession of Aadhaar Number (to be obtained voluntarily) Proof of Current Residence for Non-Individuals Udyam Registration Certificate Business Registration Certificate GST Certificate Gumasta Licence (Shop Act Licence for Maharashtra) Utility bills Income Tax Returns (ITR) Rent Agreement with utility bill not older than 60 days
Date of Birth	Passport PAN Card Driving Licence Election/Voter’s Identity Card issued by the Election Commission of India Job Card issued under NREGA, duly signed by an officer of the State Government Letter issued by the National Population Register (NPR) containing name and address Aadhaar Card (to be obtained voluntarily) Birth Certificate
Proof of Income	Consent to fetch the financials from the Income Tax & GST Portal of all the financial applicants Last 12 months' bank statement of primary business accounts & savings accounts (preferably account aggregator)
Property Documents	Title Deeds including previous chain of the property documents
Additional Documents	Additional documents will be required for the entities below: Partnership Firm: Partnership Deed Limited Liability Partnership: LLP Agreement and Certificate of Incorporation, List of designated partners and latest profit-sharing ratio certified by CA/CS Public & Private Limited Co. (Even if only 1 Director): Certificate of Incorporation, Memorandum of Association (MOA), Articles of Association (AOA), and the latest CA/CS-certified list of Directors and Shareholders with name, date of birth, nationality, and address Trust: Trust Deed with the Registration Certificate, list of all beneficiaries, trustees, settlor(s), protector(s), and author(s) of the trust containing name and date of birth Society: Byelaws/Memorandum of a Society with Registration Certificate, list of members with name, address, and date of birth Authorised signatory along with KYC & Relationship Segment details in case of Private/Public Limited Companies/Limited Liability Partnerships/Partnership Firms/Trust/Society List of Directors & Senior Management details in case of Private/Public Limited Companies Legal Entity Identifier (LEI) Certificate of non-individual borrower having banking system exposure of Rs.5 Crore and above Passport-size photographs of all applicants and co-applicants Own contribution proof Bank statements of the last 6 months showing repayment of loans Cheque for processing fee towards the Home Loan provider Additional documents for Self-Employed Professionals: Qualification documents (Degree certificate) from a recognised institution Registration Certificate from the State Medical Council for MBBS or higher education Chartered Accountant (CA) – Certificate of Practice (COP)

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

How to Apply for a Loan Against Property?

The process to apply for a Loan Against Property with Bajaj Housing Finance is simple. Follow the steps given below to apply online:

Visit the Loan Against Property application form and provide personal details, such as name, contact number and employment type.
Provide the loan type and your net income details.
Enter your PIN code and the required loan amount.
Proceed to the next step after entering the OTP and enter the rest of the financial and property-related details.
Click ‘Submit’ to submit the application form.

Our representative will get back to you in 48 hours* and guide you through the next steps.

Check Eligibility

Calculate EMI

Apply Now

Importance of Submitting a Complete Set of Loan Against Property Documents

Providing a complete set of property loan documents can improve the overall efficiency of your loan application process. When all necessary papers are submitted, verification can begin immediately, leading to a smoother assessment.

List of Loan Against Property Documents: FAQs

Typically, identity proof, address proof, PAN Card or Form 97 (mandatory), income proof, and property-related documents are required when applying for a Loan Against Property.

Yes, both salaried and self-employed applicants need to submit income proofs such as the latest salary slips, bank account statements, or ITRs.

Once your documents are verified, you can expect your Loan Against Property to be disbursed within 72 hours* hours with Bajaj Housing Finance.

Property-related documents, such as a sale deed, agreement documents, maintenance bill, recent water tax receipts, and municipal tax records, are usually required when you apply for a Loan Against Property.

Self-employed individuals need to submit the following documents***: