Loan Aganist Property Documents

Are you considering applying for a Loan Against Property (LAP) to unlock the financial potential of your real estate? Before you embark on this journey, it's crucial to ensure you have all the necessary documents in order. Here's a comprehensive guide to help you understand the documentation requirements for a smooth LAP application process.

What are the Documents Required for Plot Loan

The following list of documents is required when applying for a Plot Loan.

Document	Salaried	Self-Employed
Proof of Identity	PAN/Aadhaar/Passport/Driving License/Voter ID.	PAN/Aadhaar/Passport/Driving License/Voter ID.
Address Proof	Passport/Utility bills	Passport/Utility bills
Income Proof	3 months payslips (Latest)	Past two years audited financial statement
Bank Account Statement	Last 6 months' Bank statement of salary account	1-year bank statement of current/savings accounts
Employment Proof	EMP ID Card/Official Email ID	Business license details
Income Proof	To apply for the loan, you will need to provide income proof, which includes the following documents: Salary slips for the past three months. Form 16 for the last two years. Last six months of bank statements. Income tax returns for the last 3 years	Documentation verifying business income and tax returns: Proof of business establishment. Three years of income tax filings. Balance sheet, profit & loss account statement of the company.
Required Property documents	Original land ownership document Copy of original sale deed Link documents Property tax receipts	Original land ownership document
EC Copy	Encumbrance Certificate for the property	Encumbrance Certificate for the property
Plan of Permission	Copy of the approved plan and permission from Local Authorities	Copy of the approved plan and permission from Local Authorities

Loan Against Property EMI Calculator

Use FinMarket's loan against the property EMI calculator before applying for a mortgage loan. It helps you quickly figure out affordable EMIs based on your loan amount, interest rate, and tenure. This EMI calculator provides genuine results on the spot, showing total interest and principal plus an amortization schedule for a better loan repayment strategy.

* Note: Wherever the details regarding interest rates, processing fees and tenure are mentioned, they may differ as per the lenders' discretion. The actual eligibility will be determined based on the borrowers' risk profile during the loan application process.