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Documents Required : Loan, NOC's, Registration
November 12 2011 , 12:01 AM   #1
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Documents Required : Loan, NOC's, Registration

Documents required while applying loan

3 years ITR
3 years Form 16
2 recent Photographs
Identity Card
PAN Card
Last 6 months bank statements
Last 3 months salary
Appointment Letter
Copies of payment receipts (min. 15-20% payment)
Copy of allotment letter
Cheque towards Processing fees (50%)

Documents for 1st disbursement

Original BBA
Original Allotment Letter
Original Payment Receipts
50% Processing fees
Few Blank Cheques in the favor of bank
Electronic Clearance Service (ECS) activation documents to be submitted to bank where the borrower holds account & wishes to EMI through that account


If your builder has put the project land on mortgage, you need NOC from those banks too.

For registration, I am not aware. If anyone can please share.
November 12 2011 , 07:31 AM   #2
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My 2 cents:
1. Bank statement(s) showing the amount paid to builder is deducted from your account. Cheque number should match.
2. BBA = Allotment Letter (for my case)

BTW, is there any difference b/w BBA & Allotment letter?

Quote:
Originally Posted by LChand
Documents required while applying loan

3 years ITR
3 years Form 16
2 recent Photographs
Identity Card
PAN Card
Last 6 months bank statements
Last 3 months salary
Appointment Letter
Copies of payment receipts (min. 15-20% payment)
Copy of allotment letter
Cheque towards Processing fees (50%)

Documents for 1st disbursement

Original BBA
Original Allotment Letter
Original Payment Receipts
50% Processing fees
Few Blank Cheques in the favor of bank
Electronic Clearance Service (ECS) activation documents to be submitted to bank where the borrower holds account & wishes to EMI through that account


If your builder has put the project land on mortgage, you need NOC from those banks too.

For registration, I am not aware. If anyone can please share.
November 12 2011 , 07:33 AM   #3
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BTW, banks do take blank cheques... What is the purpose of that?
November 12 2011 , 07:35 AM   #4
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BTW, another point I want to make here is to make sure that you keep a photocopy of all the documents where you have signed. During loan process, you land up signing many documents - few normal and few on stamp paper. It is always better to have a copy of those docs with you.
November 12 2011 , 08:12 AM   #5

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Can we have similar checklist of documents needed for NRI housing loan application...??
November 12 2011 , 04:29 PM   #6
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There is no standard documentation requirement. All banks use their own whims regarding documents. Not sure if there is any RBI guide on this.

It depends on overall market condition.
It depends on bank
It depends on the clerk that you are dealing with... probably the most important aspect.

Disbursement is another headache for non approved project. Document lists are beyond your imagination for disbursement.

Way out is, get the bank commit upfront clearly about documentation and clearly mention them that you are dealing with few more banks and some fraction % difference in interest rate is immamatirial to you.

If they want business then they must behave or else you have options. This works when market is hot ... but not effective when loan market is dull like now.
November 12 2011 , 04:42 PM   #7
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very true g.harondabhai...there is no standard list. I populated this based on my experience with LIC & HDFC.
Can you please tell the documents required for registration.
November 12 2011 , 04:58 PM   #8
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Quote:
Originally Posted by LChand
very true g.harondabhai...there is no standard list. I populated this based on my experience with LIC & HDFC.
Can you please tell the documents required for registration.
Don't worry about registration. You need to carry cash and pan card ... rest your builder's agent will carry!!
May 4 2012 , 01:24 PM   #9
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Hi guyz,

I want to sell my flat, but there is a problem i didnt paid the registration charges when i purchased on 1992.. now i want to pay it but as per the Registration office here in Thane Maharashtra, Registration of Old property has been closed. Is there any way i can sell my flat & if the Bank will approve Loan for the buyer in such scenario..

Please Advice
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