![]() ![]() You can opt for a higher down payment or choose a longer repayment tenure. There are various ways through which you can reduce your home loan EMI. You can avail a home loan for a minimum tenure of five years and a maximum of thirty years. What is the minimum and maximum tenure for a home loan?.Letter relinquishing the right to Legal Heirs/Nominees for Property documents handover.īesides the ones mentioned above, the banks have the right to ask for any document they deem necessary to the loan sanctioning and verification process.Letter requesting handing over of Property documents from Legal Heir/Nominee(s).In event of demise of the loan borrower:.Power Of Attorney for collecting original documents of Property.Post closure of loan, documents required for handover of original Property documents.Report stating the valuation of property in standard format by an empanelled valuer.Report from lawyer as per standard format.Applicable for purchase of land plot, a declaration by loan borrower stipulating the date by which to construct a house.Letter from Society/Builder/Housing Board mentioning their bank and account details, for installment remittance.Detailed estimate of construction cost.No objection certificate (NOC) from Builder/Housing Society.Copy of relative order if agricultural land is being converted.Original No Objection Certificate issued under the ULC Act, 1976.Approved building plan (showing floor plan for flat purchase).Permission letter from Appropriate Authority.Receipt of land tax payment and certificate of possession issued by revenue authorities.Certificate of Non encumbrance encompassing the last 12 years/30 years. ![]() ![]() Receipts of advance payments for flat purchase.Allotment Letter from Society/Housing Board/Private builder.Receipts for taxes paid for Building and Land, certificate of possession, and certified sketch of the location of property from revenue authorities.Deed of Sale or Sale Agreement or Share Certificate (original) in case of a cooperative society.List of Property Documents Required for Home Loan Signature identification from present bankers.Liabilities Statement and Personal Assets.List of Documents Required for Loan Guarantor Passbook or Bank Statement with address.Some of the usual documents admitted as KYC are mentioned below: List of KYC Documents for Home Loan Application If applicant is unavailable in the country at the time of signing documents, Power of Attorney needs to be produced by the person acting on their behalf.Bank statements copies from overseas of the past 6 months.For Salaried NRIs, income documents attested by embassy official required if there’s no documented evidence for salary credit or fund remittance to India is available.Documents related to the Property with cost estimates from an Indian Architect or Engineer.Proof of employment by the Government of the residing country like work permit, labour contract, etc.Copy of Passport showing the page of residence visa.For Self Employed NRIs, business documents like Trade License, Sponsor Agreement, Power of Attorney, etc.Latest IT Returns (for applicants filing IT returns in the country). ![]()
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