Loan Documentation
List of Documents Required to Avail a Home Loan
Government of India has enacted the Real Estate (Regulation and Development) Act 2016 and all the sections of the Act shall come into force with effect from May 1, 2017. The key objectives of the Act are:
I) Proof of identification:
  • Driving license
  • Ration card
  • Passport
  • PAN Card
  • Voter's ID card
  • Employee ID
  • Bank Passbook
II) Proof of Age:
  • Bank passbook or Bank account statement
  • Voter's ID
  • Ration Card
  • Passport
  • Utility bill (telephone, electricity, water, gas) – less than 2 months old
  • LIC Policy/Receipt
  • Letter from a recognized public authority verifying the customer's residence address
III) Address proof:
  • PAN Card
  • Birth Certificate
  • Passport
  • Driving License
Income Documents:
I) Salaried individuals (any one of the following):
  • Form 16
  • Certified letter from Employer
  • Pay slip (Last 2 months)
  • Increment or Promotion letter
  • IT returns (for 3 years)
Apart from the proof of income of the salaried individual, he would also have to furnish any investment proofs (like fixed deposits, shares, etc) and his passport-size photographs.
II) Self Employed or businessman (any one of the following):
  • Last 3 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant
  • Last 2 years Balance Sheet and Profit & Loss account of the firm- duly attested by a Chartered Accountant
III) Apart from these, a self-employed individual also has to submit:
  • A brief introduction of his profession/business
  • Passport size photographs
  • Photocopy of Registration Certificate of establishment under Shops and Establishments Act/Factories Act
  • Photocopy of Registration Certificate for deduction of Profession Tax
  • Proof of investments
  • Certificate of Practice
  • Receipts of advance tax payments (if any )
Property Documents:
  • Sale deed, agreement of sale with the builder (original copy)
  • Land and building tax paid receipts, location sketch of the property certified by the revenue authorities, possession certificate
  • Letter of allotment given by the Housing Board/Society/Private builder
  • Original receipts of the advance payments that are made towards the purchase of flat
  • An approved copy of the building plan (key plan/floor plan in case of purchase of flats)
  • Original of the land tax paid receipt and possession certificate as issued by the revenue authority
  • Original No objection certificate (NOC) from the housing society or builder
  • Detailed estimate of the cost of construction of house
  • Letter from the builder/society/housing board, stating their account number and name of their bankers for the remittance of instalments