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Documents Required for Home Loans - Home Loans Chennai - Home Loans Documents

What are all the documents required for obtaining a home loan? (General) While submitting the application for a home loan, banker's will ask for documents to establish your income. Either business income or salary income. This will need to be backed up by proof such as copies of your last 3 years I-T returns, plus copies of computation of income / annual accounts, if any. Form 16 / Form 16A, the last 3 months salary slips (incase you are employee), copies of the last 6 months statements of all your active bank accounts in which your salary / business income details are reflected, etc. Your Age proof will need to be submitted such as your school leaving certificate / Driving License / Passport / Ration Card / Pan Card / Election Commission (Voter Id) etc. Your current address proof requires similar documents. Identification proof would also be the same as the above, but with a photograph. Sometimes, the same documents if it contains a photograph, the current residential address and the correct age can be proof of all 3 things. You would also need to submit your employment details fully. If your company is not well known then short summary about the nature of the company, its business lines, its main customers, its competitors, number of offices, number of employees, turnover, profit etc may be needed. Usually the company profile that is available on the standard website of the company is enough. Your investment will also help the bank to estimate your ability to pay the down payment as well as tell the bank a bit about your savings.

Salaried Individuals (Salary Employee)

Salary slip/Form 16 A.
A photocopy of the first and last pages of Ration card or copy of PAN/Telephone/Electricity bills.
A photocopy of Investments (FD Certificates, Shares, any fixed asset etc. or any other documents
supporting the financial background of the borrower.
A photocopy of LIC policies with the latest premium payment receipts (if any)
Photographs (as applicable).
A photocopy of bank statement for the last six months.

Businessmen / Self-Employed

A brief introduction of Business/Profession.

Balance Sheet, Profit and Loss account and statement of income with Income Tax returns for the last 3 years certified by a CA.

A photocopy of Advance Tax payments (if applicable).

A photocopy of Registration Certificate of estatblishment under shops and Establishments Act/Factories Act.

A photocopy of Registration Certificate for deduction of Profession Tax (if applicable).

Bank statements of Current and Saving accounts for the last 6 months.

A photocopy of Certificate of Practice(if applicable).

A photocopy of any bank loan (if applicable).

A photocopy of the first and last pages of the Ration card or a copy of PAN/Telephone/Electricity Bills.

A photocopy of LIC policy (if applicable).

A photocopy of investments (FD Certificates, Shares, any other fixed asset).

Property is being purchased is in a Cooperative Society

Original share certificate of the Co-operative Society.
Allotment letter from the society in your name.
Copy of the lease deed, if executed .
Certificate of the registration of the society.
Copy of the byelaws of the society.
No objection certificate from the society.
7/12 extract or property register card in the society's name.
Copy of N.A permission for the land from the collector.
Search and title report(with the details of documents) for the last 30 years.
Copy of order under the Urban Land ceiling Act.
Copy of the building plans sanctioned by the competent authority.
Commencement certificate granted by Corporation / Nagar Palika.
The latest receipts of taxes paid.
Original Agreement to assign / Deed of assignment.

Flat Purchased From the Builder

Original copy of your agreement with the builder.
7/12 extract or property register card of the land under construction.
Index II extract of your agreement with the builder.
Copy of N.A. permission for the land from the collector.
Search and title report (with the details of documents) for the last 30 years.
Development agreement between the owner of land and the builder.
Copy of order under the Urban land Ceiling Act.
Copy of building plans sanctioned by the competent authority.
Commencement certificate granted by Corporation / Nagar Palika.
Building completion certificate(if available).
The latest receipts of taxes paid.
Partnership deed or memorandum of association of the builders firm.

Construction on Own Land

Original sale deed of land and extract of Index II.
7/12 extract or property register card in your name.
Copy of N.A. permission for land from the collector.
Search and title report (with the details of documents) for the last 30 years.
Copy of order under Urban Land Ceiling Act.
Copy of the building plans sanctioned by the competent authority.
Building permission granted by Corporation / Nagar Palika.
The latest receipts of taxes paid.
Estimate of cost of construction certified by the architect.

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Documents Required for Home Loans - Home Loans Chennai - Home Loans Documents