1. Resident of India

  1. a. Copy of PAN Card – Self Attested
  2. b. Residence proof (Driver’s License/Ration Card/Passport/Voters Id/AADHAAR) – Self Attested
  3. c. Passport-size photographs (Per Applicant)
  4. d. Cheque Book

2. Partnership Firm

  1. a. Copy of PAN Card of the Partnership Firm – attested by Partners
  2. b. Copy of Partnership Deed
  3. c. Authority letter from other Partners of the Partnership Firm to authorize the Partner who will be signing on the firm’s behalf
  4. d. Passport-size photographs (for Partner authorized to sign on behalf of Firm)
  5. e. Cheque Book

3. Private Limited Company

  1. a. Copy of PAN Card of the Company (Attested)
  2. b. Articles of Association & Memorandum of Agreement duly signed by the Company Authorities
  3. c. Board Resolution authorising the signatory of the Application Form to buy property on behalf of the Company
  4. d. Passport-size photographs (for Signatory authorized to buy property on behalf of Company)
  5. e. Cheque Book

4. NRI/Foreign National of Indian Origin/PIO

  1. a. Copy of Individual’s passport/Copy of Person of Indian Origin (PIO) card
  2. b. 2 Passport-size photographs (Per Applicant)
  3. c. All cheque payments should be received from the NRE/NRO/FCNR account of the customer only, or via foreign remittance. Payment from third party accounts will not be acceptable

2. When can I apply for home loan and steps involved in the process?

You can apply for the Home Loan even before you have selected your property or before the start of construction. You will get in -principle approval for the loan amount which will help you decide your budget and plan the purchase of house/flat.
There are two stages in the housing loan process

  1. 1. Sanction of the loan
  2. 2. Disbursement of the loan as per the progress of construction of the property.

4. Can I get more than one housing loan?

Yes. Housing loans can be given to an individual provided he has the capacity to repay. The loans can be for same property (repairs/extension etc) or for different properties.

5. What are general components of Net Monthly Income to calculate loan eligibility?

The NMI is income from all sources of an salaried individual It Includes:

  1. 1. The NMI from the salary of applicant
  2. 2. The NMI from the salary of co-applicant/spouse
  3. 3. The income from other sources like Rent from the existing/proposed flat, Agricultural income, Income from tuitions, other business etc.

In case of self employed/professional the NMI is Annual Income after deduction of income tax divided by 12 (as per I-T return) plus other income as above.