Documents Required For Getting A Home Loan For Under Construction Property In Delhi

 Are you considering buying an under-construction property? This is the wisest choice which every home buyers do, however it is quite expensive in comparison to ready-to-move or resale property still home buyers shows their interest in an under construction property.

 In the under-construction phase, you can inspect the property and can get updates about it, but in a ready-to-move property rarely you get the chance to examine the site even, that is why, it is considered to choose an under construction property.

But the most important step all home buyers take once in their lifetime is they require a home loan to get financial assistance from a bank. To get home loans from banks all you need to meet their eligibility criteria and some legal documents required by the banks and follow some paperwork with it.  

Here are the lists of documents required for under-construction property home loans

• Kahta Certificate
• Sale Deed
• KYC ( Know Your Customer ) documents for income proof
• No objection Certificate (NOC) was issued by the builder on their letterhead
• Agreement with the builder, duly registered and stamped
• Documents or letters from the builder indicating the project’s progress

If the project isn’t registered yet, then you must ask the builder to provide the following documents mentioned below:

• An Original copy of the money receipt issued by the Sub-Registrar
• A copy of the own contribution amount proof
• A true copy of the agreement with the builder
• Acknowledged copy of the authority letter, addressed to the Sub –Registrar
• A copy of the authority letter acknowledged by the builder

While collecting the documents always check or ask the builder that, whether the project is tie-up with other lenders or not, if yes, then you can directly obtain all the verification documents from the elder itself. Make sure that, you can’t choose the same lender for your housing loan.

To Sum Up

Keep all these documents ready and surely you will get an easy home loan in a speedy and hassle-free manner. This same procedure will follow with affordable as well as luxury property too, for instance, DLF One Midtown Delhi.