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Who can avail a Home Loan?

  • Salaried Individuals
  • Professionals
  • Self-Employed

How much loan can i avail?

Maximum loan of 80% of the Agreement Value can be availed. However the loan amount may differ subject to your income eligibility as appraised by the bank. The disbursal of loan will be the sole discretion of the bank.

What is the term of the loan that banks offer?

Banks and financial institutions usually offer loans from a minimum of 3 years to a maximum 25 years.

What are the documents required for availing home loan?

Basic Documents:
  • Completed Application form
  • Residential Address Proof
  • Photo Identity Proof
  • Age Proof
  • Signature Verification Proof
For Salaried Individuals:
  • Form 16
  • Last 3 months Salary Slip
  • Bank Statement for the last 6 months from Salary Account
  • Photo Identity Proof
For Self Employed Individuals:
  • A brief introduction of Business/Profession
  • Photo Identity Proof
  • Residence Address Proof
  • Signature Verification Statement for all the main partners/directors
  • Repayment Track record of existing loans/Loan closure letter
  • Board Resolution in case of a company
  • roof of existence of the company
  • Office Address Proof
  • Income Tax Return
  • Computation of Total Income
  • Auditors Report
  • Balance Sheet
  • Profit & Loss Account
  • Certification of accounts by Chartered Accountant for last 2 years

Stamp duty and Registration

Stamp duty is a duty levied on the legal recognition of certain documents. For residential as well as commercial units the stamp duty payable is applicable at 5% of market value of the unit or consideration paid under the agreement, whichever is higher. The market value of the Unit is determined on the basis of stamp duty ready reckoner issued by government every year on January 1st. Further registration fees is payable @ 1% of market value.