- Opting for a Property Loan is the best way to fulfill your financial needs as it offers lowest Interest Rates.
LAP Without Map @8.00% Onwards
• Loan up to 90% of property value
• Maximum tenure upto 30 years
• Minimal Documentation
• Maximum tenure upto 30 years
• Minimal Documentation
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Eligibility Criteria
What you mean by Loan against property without map Eligibility Criteria?
Generally, without map one couldn’t get loan against property but now some lenders are providing loan for without map property at competitive rates with flexible tenure period.
Loan against property without map Eligibility Criteria
Eligibility Criteria depends on several factors like repayment history, salary or business sales/turnover& Creditworthiness …etc.
Eligibility Criteria
- • Applicant age should be in-between 18 – 60 years of age
- • Minimum 3 years of work experience
- • Must have good CIBIL Score
- • Resident of Indian
Note: – You can get 85% of property value as a maximum loan amount 1 Cr.
What are the factors generally affecting Loan against property without map Eligibility Criteria?
There are top factors that generally affects without map property eligibility criteria as given below: –
Unstable financial behavior: – Lender evaluate your financial behavior by checking your financial history, if you were unable to make payments on time, your behavior marked as unstable which lower the chances of getting loan.
Incomplete Documentation: – Getting a loan from banks & NBFC’s require proper & complete document in terms of checking your originality & financial creditworthiness status, due to lack of incomplete document your loan application will be rejected.
What are the ways to increase Loan against property without map eligibility?
To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Add a Co-applicant: – When your credit score is low, you can add your family earning member as a co-applicant which help to boost your eligibility strength.
Choose well maintained property: – Lenders will check the condition of property, a bad condition property will generally don’t have much market value wherein a well-maintained property has the high -potential of good market value. Therefore, choose well maintained property as it will also enhance the loan eligibility.
Documents Required
- PHOTOGRAPHS 2
- PAN CARD COPY
- AADHAR CARD + PASSPORT
- ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
- LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
- LAST 1 YEAR BANK STATEMENT – SALARY ACCOUNT
- LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
- COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
- PROCESSING FEE CHEQUE IN FAVOUR OF BANK
- LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
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- PHOTOGRAPH BOTH
- PAN CARD CLEAR COPY PROPRIETOR
- ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
- OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
- FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
- LAST 1 YEAR GST RETURN COPY
- FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
- PROVISIONAL FINANCIAL AY 2019-20
- BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
- 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
- IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS WITH CHAIN SANCTION MAP
- PARTNERSHIP DEED COPY
- GST CERTIFICATE
- GST RETURN LAST 1 YEARS
- 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
- PROVISIONAL FINANCIAL AY 2019-20
- 3 YEAR ALL PARTNER INDIVIDUALS ITR + COMPUTATION
- FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
- ALL PARTNER SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH MAP
- ALL DIRECTORS PHOTOGRAPH
- CLEAR PAN CARD – COMPANY AND ALL DIRECTORS
- ADDRESS PROOF – COMPANY AND DIRECTORS
- LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
- MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
- GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
- 1 YEAR GST RETURNS
- ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
- LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
- PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
- COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
- ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions
- List of documents are below given:-
- Identity Proof
- Address Proof
- Property documents
- Latest 1 year bank statement
- To get Loan Against Property at low Interest Rates you are required to compare offers from various lenders so that you can able to evaluate the offers & benefits which suits your requirement.
Whether you have map for your property or not, but make sure you carry all the mandatory documents with you like agreement of sale.
Many Government, Private & housing companies provides loan.
How much loan amount can I get on Property Without Map?
According to your need & requirements choose the lender to avail loan, contact them via visiting their official site by filling enquiry form or visit your nearest bank branch.
If you have property without map still you have opportunity to get finance, many lenders are offering this type of credit facility at low Interest Rates.
In general, most lenders offer period up to 30 years to repay the borrowed principal amount.
