Essential Documents Required to Purchase an Under-Construction Property

Purchasing an under-construction property involves considering several legal and financial aspects and preparing the necessary documents. With all the necessary documents in order, you can experience smooth and quick Home Loan processing.  

This article provides a checklist of documents you may need to submit when applying for a Home Loan for an under-construction property. 

List of Documents Required to Purchase an Under-Construction Property

Here is an indicative list of documents required to purchase an under-construction property: 

KYC Documents

• Proof of Identity: Aadhaar card, PAN Card, Voter’s ID, Passport, or Driving Licence 
• Proof of Address: Utility Bills or Passbook 

Income Proof 

• Salaried Applicants: Recent salary slips, ITR or Form 16, and bank statements of the last six months 
• Self-Employed Applicants: Audited Balance Sheets and P&L Statements, ITR, and bank statements of the last six months 

Property-Related Documents

• Khata Certificate: A document that confirms a property’s ownership issued by the local governing bodies 
• Agreement to Sell: A duly registered agreement between you and the builder, highlighting the terms of the sale 
• Approved Building Plan: A copy of the sanctioned layout plan 
• Title Deed: Legal document verifying the ownership of the land 
• No Objection Certificate (NOC): Issued by the builder to confirm no legal or financial obligations are pending 
• Construction Progress Report: A report detailing the current status of construction 

Additional Financial and Legal Documents

• Original Copy of the ‘Money Receipt’: Issued by the Sub-Registrar’s office 
• Own Contribution Amount Proof: A proof of payment or receipt you receive from the builder showing the funds you have contributed towards the property 
• Authority Letter Acknowledged by the Builder: A letter authorising the builder for specific legal formalities along with a copy acknowledged by the builder 
• Acknowledged Copy of Authority Letter Addressed to Sub-Registrar: A copy of the letter acknowledged by the Sub-Registrar 

While purchasing an under-construction property, ensure you have all the required documents to experience a hassle-free Home Loan process. It is a good idea to refer to your lender’s checklist of required documents.