Mrs. Nayana- our family friend intends to buy a residential property. Baffled by flooded builders offers and calls from the estate agencies, she phones to seek guidance to her bewilderment towards builder and resale property. Soon after her request we directed her with the advantages of purchasing the either, leaving her with her decision to decide which one to invest. Hope our genuine opinions and thoughts expressed guide her to make a right decision. Opinion and thoughts expressed are genuine out of our sheer personal experiences. 

1) Identifying the purpose for purchase.

If you are purchasing a property with an intention of immediately moving into the property, going for a ready-to-move residential property will always be a suitable option. Here ready-to-move signifies resale purchase or newly constructed builder property ready for possession. What needs to be evaluated here is the property location, accessibility, road connectivity, its amenities, neighbourhood – markets, supermarket, hospitals, malls, restaurants, schools & colleges, power station, future developments, etc. However a lesser known fact is that a resale property will be cheaper than a newly constructed builder property. The cost of the builder property is usually high because of the various amenities provided by the builder such as swimming pool, gym, gardens, club house, etc. The more the amenities the higher will be the cost of the property. Therefore choose wisely between resale and builder property depending on your personal needs and requirements.  

2) Know the applicable taxes and charges. 

As per the property norms you are required to pay charges to the government for purchasing a property in India. These charges are in the form of stamp duty, registration, intimation to mortgage charge (applicable only in Maharashtra), GST, etc. You are required to pay GST of 5% for purchasing an under-construction builder property or ready possession builder property (where OC is not issued) valued at Rs. 45lakhs and above & GST of 1% for affordable housing for properties valued below 45lakhs. No GST is applicable on completed or ready to sale properties of the builder where the Completion Certificate i.e. CC and the OC are issued. Along with GST, you also need to pay stamp duty of 5% (in Maharashtra) and registration charges (Rs.30, 000 for properties valued above 30lakhs & 1% of the property value for properties valued below 30lakhs. Stamp duty and registration charges vary from state to state. Which means for buying an under-construction property you pay GST (5% or 1%) +stamp duty (6%) + registration charges (Rs.30, 000 or 1%). On the other hand, the advantage of buying a resale property is that you save on the GST cost. There is no GST applicable on the resale properties. You are liable to pay only the applicable stamp duty and the registration charges. 

3) Know the loan funding for purchase.

Buying a property with your own funds is a rare ratio. You mostly approach a lender bank/NBFC to fund your property. Banks/NBFCs provide loans on the basis of your income eligibility subject to the LTV (loan to value) criteria. The LTV is the percentage of the maximum funding available on the market value of your property. The LTV norms are, 90% for property less than 30lakhs, 80% for property between 30lakhs-75lakhs and 75% for property above 75lakhs. No lender can fund beyond the LTV norms. The LTV criteria remain the same for resale purchase or builder purchase of under-construction or ready to move property. But the final loan eligibility on the basis of the property is calculated as lower of the two i.e. percentage of the agreement value or applicable LTV of 75%-90% on the market value whichever is low. In resale purchase 100% of the agreement value will be considered while in builder case 80% of the agreement value is considered. 

For example: If the market value of the property is 1cr and the agreement value is 80lakhs, the loan eligibility will be:

In resale purchase

1cr * LTV of 75% = 75lakhs

80lakhs * 100% of 80lakhs = 80lakhs 

Therefore loan eligibility will be 75lakhs (lower figure).

Alternatively, if the market value of the property is 1cr and the agreement value is 60 lakhs, the loan eligibility will be:

1cr * LTV of 75% = 75lakhs

60lakhs * 100% of 60lakhs = 60lakhs 

Therefore loan eligibility will be 60lakhs (lower figure).

In builder purchase

1cr * LTV of 75% = 75lakhs

80lakhs * 80% of 80lakhs = 64lakhs 

Therefore loan eligibility will be 64lakhs (lower figure).

Alternatively, if the market value of the property is 1cr and the agreement value is 60 lakhs, the loan eligibility will be:

1cr * LTV of 75% = 75lakhs

60lakhs * 80% of 60lakhs = 48lakhs 

Therefore loan eligibility will be 48lakhs (lower figure).

However please note in the builder case the cost of the property (COP) is of vital importance. Many lender banks/NBFCs consider this COP as a base instead of agreement value to calculate the loan eligibility i.e. 80% of the COP is considered. The COP consists of the agreement value, legal charges, share money/society formation charges, club house charges, maintenance charges, development charges, water connection charges, GST charge, etc. Stamp duty and registration charges are not considered in COP.

4) Know the OCR requirements.

Own contribution refers to the own funds required for purchasing a property. The ground rule of the home loan mortgage industry states that banks do not provide 100% funding for your property. The standard ratio is assumed to be 20:80 percent i.e. 20% own funding and 80% bank funding. However as per the calculation of the property eligibility norms of the lender, it is seen that the loan funding in builder property is always lower in comparison to the loan funding available for resale property purchase. Low funding implies requirement of higher own contribution and maximum funding means less own contribution required. Particularly true in the resale purchase, especially when the market value of the property is high while the saleable value of the property is lower than the market value. In such a scenario, you can draw maximum funding at times more than 100% of the agreement value. What you pay is just a stamp duty and registration charges. But such a type of deal is a rare combination. 

For example- if the market value of the property is 1cr and the saleable value is 70lakhs, as per the property eligibility criteria the loan eligibility stands at 70lakhs. Which means if you make an agreement of 70lakhs, the entire 70lakhs will be funded. What you have to shell out from your own pocket is just the stamp duty and registration charges.

Alternatively, if the cost of builder property is 50lakhs (inclusive of stamp duty and registration cost of 3lakhs + 5lakhs other charges), agreement value is 40lakhs, your own contribution will be:

50lakhs – 3lakhs (stamp duty + registration) = 47lakhs * 80% (funding norms) i.e. 20% will be your own contribution which will be 9.4lakhs. Your total own fund required will be 9.4lakhs + 3lakhs.

5) Understanding the Pre- EMI cost.

Pre EMI is generally associated with under construction builder properties. In pre EMI you pay only the interest on the partial disbursements of your loan amount. The Pre-EMIs paid do not have any impact on your principal amount or loan repayment tenure neither is it deducted from the total interest you will be paying. It is not a part of loan repayment tenure. Your loan repayment tenure will consist of Pre-EMIs tenure + loan tenure. Also there are no tax benefits on Pre-EMIs. In resale purchase the concept of Pre-EMIs does not exist. In resale you directly start repaying the loan through EMIs which consist of both principal and the interest amount. Pre-EMI is suitable, if you have interrupted flow of funds or you are staying on rent or you have financial crises or medical emergencies to meet, etc. Pre-EMI is a cost incurred only when you opt for a housing loan on under-construction property. However if you are capable of paying the initial slab wise demand of your builder through your own funds, you can save a substantial amount of interest or you may simply save your Pre-EMI  by going for a ready to move property. 

Additional Read: IS PRE – EMI BETTER THAN FULL EMI. FIND OUT YOURSELF.

6) Identifying the investment opportunity.

The basic intention for investing in a property is to build an asset for you, an asset which will have an appreciation value in the future. Either of the properties whether resale or builder will have an appreciation value in the long run. With a personal note, a resale property that can go for redevelopment will be your bonanza. In redevelopment the re-developer/builder offers you an extra 20-25% square feet area in addition to your existing property area. This at once appreciates the value of your property by 20-25%. In urban cities like Mumbai, there exists a lot of scope for redevelopment projects. The properties as old as 30-100 years stand a chance of going for redevelopment. But before investing in 30year+ old property ensure the property has clear and marketable title and the minimum age of the property is 7years if you are going for a housing loan. Get a title search and structural audit done for the property. The title search gives the ownership details of the property over the years and the structural audit report shows the exact age of the property and its current condition. But be cautious with redevelopment investments, as the fact remains overshadowed that the properties going for redevelopment do not qualify for housing loans. 

Related Blogs:

• Purchasing An Under-Construction Property? Here Are The Important Loan Facts You Must Know Before Making A Purchase
• Quick Guide To Difference Between Home Loan Builder Case & Resale Case
• What Loans Can I Get On My Property
• Why Is It Difficult To Get A Loan On Grampanchayat Property?

If you are looking for housing loan guidance for your property purchase in Mumbai, visit Loanfasttrack on https://www.loanfasttrack.com/. Loanfasttrack provides you hassle free services at your doorsteps with comparative evaluations of more than 13+ top banks, with no additional cost. You can also contact us on 9321020476 or email on info@loanfasttrack.com. 

About Loanfasttrack- Loanfasttrack is a Mumbai based loan provider company since 2015 offering loan services in Mumbai on– housing loan in Mumbai, mortgage loan in Mumbai, personal loan in Mumbai, business Loan, unsecured business loans, home loan transfer, top-up loans, car loans, educational loans and loan transfers.

It also helps you:

√ To find the best bank for home loan

√ To get lowest home loan rates in Mumbai

√ To get an instant loan in Mumbai

√ To get instant personal loan in Mumbai & business loan in Mumbai

√ To make you qualify for the maximum loan against property eligibility

√ To get a low cost home loan balance transfer

√ To get assured low interest rates for loan against property in Mumbai

A complete document checklist for self-employed proprietor from home loan sanction till disbursement is as follows: –

Sanction List Of Documents

KYC

1) Pan Card copy of all applicants.

2) Latest passport size colour photograph of all applicants. 

3) Residence proof – copy of aadhaar and electricity bill.

Financial Documents

1) 3 years latest financials of the applicant with Saral Copy, Balance Sheet, P&L account, Capital Account – CA certified with membership no.

2) Latest 3 years Form no-26 AS.

3) Latest 1 year Copy of GST returns – 3B form.

4) For rental income receivable- if any:

            a) Copy of registered rental agreement.

            b) Latest 1 year bank account statement reflecting the rental credit.

5) Latest 12 months bank account statement of the current account (if any).

6) Latest 12 months bank account statement of all savings account.

Other Documents

1) Business profile on the letter head of the company.

2) Business proof – GST registration, Ghumastha or Copy of AAdhar Udoyg.

3) Copy of contract letter if any.

4) If proprietor profile is:

            a) Chartered Account (CA) – Copy of COP & passing certificate.

            b) Doctor – Copy of Degree Certificate.

5) Details of all existing loan along with the sanction letters (for calculating loan obligation).

6) Processing fees cheque in favour of bank/NBFC.

7) Bank form duly signed by applicant & co-applicant.

Documents For Conducting Legal & Technical Process -Of The Property

For APF Projects- APF means where the builder project is approved by bank & NBFC

Documents required for technical – cost sheet & approved plan copy from builder.

Documents required for legal – Nill. (Legal is not mandatory in APF projects).

For NON- APF Projects – Non-APF means where the builder project is not approved by bank & NBFC. Under such cases both legal and technical of the property is mandatory.

Documents required for technical – cost sheet & approved plan copy from builder.

Documents required for Legal – copy of draft agreement from the builder.

On the basis of draft agreement a lawyer makes the property’s legal report. The legal report may demand for additional documents from builder. List of such additional documents required would be:

1) Sales Deed/Lease Deed/Development Agreement of the builder/society

2) If a development agreement is executed, power of Attorney from Land owner.

3) Chain of agreements from the previous landowner.

4) Layout Copy.

5) Approved Layout and building plans.

6) Commencement Certificate from Municipal Council/Corporation.

7) Completion Certificate.

8) ULC Certificate for Clearance of land under ‘Urban Land Ceiling Act’1976.

9) N.A permission and Latest N.A tax receipt.

10) Property Card / 7/12 Extract.

11) 6D Extract.

12) 8 A Extract, if applicable.

13) If the land is within the Survey Limits, collect the City Survey Extract instead of the 7/12, 6D, 8A.

14) Title and Search Report.

15) Copy of bye laws and registration certificate of the society in case the society is a registered cooperative society.

16) Index 2 issued by the sub registrar.

17) Copy of Draft sale agreement.

18) Partnership deed/MOA/AOA of the builder /Developer.

19) Marketing Brochure / highlights of the project.

20) Copies of Sanction plan with technical request.

21) Carpet and Saleable area Statement.

22) Public Notice and its objection if any.

23) APF application form.

24) Covering Letter indicating the LOD submitted.

25) Cancelled cheques.

26) Construction Schedule.

27) Payment Schedule.

28) RERA Certificate.

Disbursement List of Documents

IF APF Project

1) Original Agreement with index2.

2) NOC from Builder.

3) Demand letter from Builder.

4) Allotment letter or Possession letter from Builder.

5) Payment receipt from Builder.

6) Architecture report from Builder.

7) Copy of ROC and Lien letter from Builder- if project is funded by bank.

8) OCR clearance. (Own contribution –requires bank statement details & OCR Source confirmation via Email).

9) Docket kit duly signed by all applicants.

10) Facility agreement duly franked and signed.

11) Cheque or DD-demand draft towards Administration Fess.

12) Sanction letter copy duly signed.

13) 7 security cheque in favour of Bank.

14) Any other documents as per:

            a) Credit Manager’s requirement.

            b) Sanction condition on sanction letter.

If Non-APF Project

All documents mentioned above in the APF project checklist along with the following two documents:

1) Title search Report.

2) Any other documents as per property legal report.

Note:   1) All documents have to self -attested by respective, applicants & Co-applicants.

            2) All property owners have to be on the loan structure.

If you are looking for housing loan guidance for your property purchase in Mumbai, visit Loanfasttrack on https://www.loanfasttrack.com/. Loanfasttrack provides you hassle free services at your doorsteps with comparative evaluations of more than 13+ top banks, with no additional cost. You can also contact us on 9321020476 or email on info@loanfasttrack.com. 

About Loanfasttrack– Loanfasttrack is a Mumbai based loan provider company since 2015 offering loan services in Mumbai on– housing loan in Mumbai, mortgage loan in Mumbai, personal loan in Mumbai, business Loan, unsecured business loans, home loan transfer, top-up loans, car loans, educational loans and loan transfers.

It also helps you:

√ To find the best bank for home loan

√ To get lowest home loan rates in Mumbai

√ To get an instant loan in Mumbai

√ To get instant personal loan in Mumbai & business loan in Mumbai

√ To make you qualify for the maximum loan against property eligibility

√ To get a low cost home loan balance transfer

√ To get assured low interest rates for loan against property in Mumbai

I) Checklist for loan sanction.

II) Documents required for legal and technical – (For APF & Non- APF projects).

III) Document checklist for disbursement process.

I) Checklist for Loan Sanction

KYC

1) Company pan card copy along with stamp & director signature.

2) Self attested Pan card copy of all directors. 

3) One Passport size colour photograph of all applicants.

4) Copy of residence proof (passport/electricity bill & Aadhaar card copy) of all directors.

5) Copy of office proof (electricity bill/telephone bill).

6) Pan card of shareholders having minimum stake of 51%.

Financial Documents

1) CA certified copies with membership number:

a) 3 years latest financials of the company including Saral Copy, computation of income, Balance Sheet, P&L account, Capital Account.

b) 3 years latest financials of all directors including saral copy, computation of income, Balance Sheet, P&L account, Capital Account.

            c) Company Annual report.

            d) Directors report.

            e) Auditor Report and Annexure to auditor’s report.

            f) Tax audit report (Form 3CB & 3CD) (42 Points) -If applicable.

            g) Copy of company’s Debtors & Creditors aging 1 Year – if case is booked under banking product.

2) Latest 12 months bank account statement of all directors.

3) Latest 18 months bank account statements of all current accounts of the company.

4) Latest 3 years Form no-26 AS.

5) Latest 1 year Copy of GST returns – 3B form.

6) Director’s self attested copies of: –

            a) Latest 4 months salary slips.

            b) Latest 2 years form 16.

            c) Updated salary credit statement for 6 months.

            d) For any rental income receivable b y the director:

                        i) Copy of registered rental agreement.

                        ii) Latest 1 year rental credit – bank account statement.

Other Documents

1) MOA & AOA of the company. 

2)) List of directors and share holding of the company- CA certified.

3) Business/company profile on the letter head of the company.

4) Business proof – GST registration, Ghumastha or Copy of Aadhar Udoyg.

5) Copy of contract letter- if any.

6) If applicant Director is:
a) Chartered Account (CA) – Copy of COP & passing certificate.

b) Doctor – Copy of Degree Certificate.

7) Details of all existing loan along with the sanction letters (for calculating loan obligation) of the applicant-director.

8) Details of all existing loan along with the sanction letters (for calculating loan obligation) of the company.

9) Processing fees cheque in favour of bank/NBFC.

11) Bank form duly signed by applicant (director) and co-applicant/directors/company.

12) Any other documents as required by the credit manager.

II) Checklist For Legal &Technical Document

For APF Projects- APF means where the builder project is approved by bank & NBFC

Documents required for technical – cost sheet & approved plan copy from builder.

Documents required for legal – Nill. (Legal is not mandatory in APF projects).

For NON- APF Projects – Non-APF means where the builder project is not approved by bank & NBFC. Under such cases both legal and technical of the property is mandatory.

Documents required for technical – cost sheet & approved plan copy from builder.

Documents required for Legal – copy of draft agreement from the builder.

On the basis of draft agreement a lawyer makes the property’s legal report. The legal report may demand for additional documents from builder. List of such additional documents required would be:

1) Sales Deed/Lease Deed/Development Agreement of the builder/society

2) If a development agreement is executed, power of Attorney from Land owner.

3) Chain of agreements from the previous landowner.

4) Layout Copy.

5) Approved Layout and building plans.

6) Commencement Certificate from Municipal Council/Corporation.

7) Completion Certificate.

8) ULC Certificate for Clearance of land under ‘Urban Land Ceiling Act’1976.

9) N.A permission and Latest N.A tax receipt.

10) Property Card / 7/12 Extract.

11) 6D Extract.

12) 8 A Extract, if applicable.

13) If the land is within the Survey Limits, collect the City Survey Extract instead of the 7/12, 6D, 8A.

14) Title and Search Report.

15) Copy of bye laws and registration certificate of the society in case the society is a registered cooperative society.

16) Index 2 issued by the sub registrar.

17) Copy of Draft sale agreement.

18) Partnership deed/MOA/AOA of the builder /Developer.

19) Marketing Brochure / highlights of the project.

20) Copies of Sanction plan with technical request.

21) Carpet and Saleable area Statement.

22) Public Notice and its objection if any.

23) APF application form.

24) Covering Letter indicating the LOD submitted.

25) Cancelled cheques.

26) Construction Schedule.

27) Payment Schedule.

28) RERA Certificate.

III) Checklist For Disbursement Process

IF APF Project

1) Original Agreement with index2.

2) NOC from Builder.

3) Demand letter from Builder.

4) OCR clearance. (Own contribution –requires bank statement details & OCR Source confirmation via Email).

5) Docket kit sign and franking 0.2% of loan amount.

6) If project is fund by the bank- ROC and Lien letter from Builder.

7) Payment receipt from Builder.

8) Architecture report from Builder.

9) Allotment letter or Possession letter from Builder.

10) 7 security cheque in favour of Bank.

11) Administration Fess –clearance by cheque or DD-demand draft.

12) Facility agreement duly franked and signed.

13) Sanction letter copy duly signed.

14) Cheque or DD-demand draft towards Administration Fess.

15) Any other documents as per:

            a) Credit Manager’s requirement.

            b) Sanction condition on sanction letter.

16) If applicant partner owns < than 51% stake in the company:

            a) All partners & partnership firm to be co-applicant in loan.

            b) Financials of all partners & partnership firm.

If Non-APF Project

All documents mentioned above in the APF project checklist along with the following two documents:

1) Title search Report.

2) Any other documents as per property legal report.

Note:   1) All documents have to self -attested by respective, applicants & Co-applicants.

            2) All property owners have to be on the loan structure.

If you are looking for housing loan guidance for your property purchase in Mumbai, visit Loanfasttrack on https://www.loanfasttrack.com/. Loanfasttrack provides you hassle free services at your doorsteps with comparative evaluations of more than 13+ top banks, with no additional cost. You can also contact us on 9321020476 or email on info@loanfasttrack.com. 

About Loanfasttrack– Loanfasttrack is a Mumbai based loan provider company since 2015 offering loan services in Mumbai on– housing loan in Mumbai, mortgage loan in Mumbai, personal loan in Mumbai, business Loan, unsecured business loans, home loan transfer, top-up loans, car loans, educational loans and loan transfers.

It also helps you:

√ To find the best bank for home loan

√ To get lowest home loan rates in Mumbai

√ To get an instant loan in Mumbai

√ To get instant personal loan in Mumbai & business loan in Mumbai

√ To make you qualify for the maximum loan against property eligibility

√ To get a low cost home loan balance transfer

√ To get assured low interest rates for loan against property in Mumbai

I) List Of Documents Required For Loan Sanction Process

KYC

1) Pan card copy of all partners.

2) Company pan card copy along with stamp & director signature.

3) Residence proof- copy of passport/electricity bill & Aadhaar card copy.

4) Office proof – copy of electricity bill/telephone bill.

Financial Documents

1) CA certified copies with membership number:

a) 3 years latest financials of the applicant including Saral Copy, computation of income, Balance Sheet, P&L account, Capital Account.

b) 3 years latest financials of all partners including saral copy, computation of income, Balance Sheet, P&L account, Capital Account.

            c) Tax Audit Report (Form 3CB & 3CD) (42 Points).

            d) Copy of company’s Debtors & Creditors aging 1 Year – if case is booked under banking product.

2) Latest 3 years Form no-26 AS.

3) Latest 1 year Copy of GST returns – 3B form.

4) For rental income receivable- if any:

            a) Copy of registered rental agreement.

            b) Latest 1 year bank account statement reflecting the rental credit.

5) Latest 12 months bank account statement of all partners.

6) All current account statements of the partnership firm updated for a latest of 18 months.

Other Documents

1) True certified copy of partnership deed.

2) Business/company profile on the letter head of the company.

3) Business proof – GST registration, Ghumastha or Copy of Aadhar Udoyg.

4) Copy of contract letter if received any contracts.

5) If applicant partner is:
a) Chartered Account (CA) – Copy of COP & passing certificate.

b) Doctor – Copy of Degree Certificate.

6) Details of all existing loan along with the sanction letters (for calculating loan obligation) of the applicant.

7) Details of all existing loan along with the sanction letters (for calculating loan obligation) of the partnership firm.

8) Processing fees cheque in favour of bank/NBFC.

9) Bank form duly signed by applicant and co-applicant/partner/company.

II) Legal &Technical Document checklist

If APF- If the project is approved by bank & NBFC, only technical of the property is done & legal is not mandatory. 

Documents for technical – cost sheet & approved plan copy from builder.

Documents for legal – Nill.

If NON- APF– If the project is not approved by bank & NBFC, both legal and technical of the property is mandatory.

Documents for technical – cost sheet & approved plan copy from builder.

Documents for Legal – copy of draft agreement from the builder.

Additional documents required from builder on the basis of legal report generated by the lawyer taking draft agreement as a base are: –

1) Sales Deed/Lease Deed/Development Agreement of the builder/society

2) If a development agreement is executed, power of Attorney from Land owner.

3) Chain of agreements from the previous landowner.

4) Layout Copy.

5) Approved Layout and building plans.

6) Commencement Certificate from Municipal Council/Corporation.

7) Completion Certificate.

8) ULC Certificate for Clearance of land under ‘Urban Land Ceiling Act’1976.

9) N.A permission and Latest N.A tax receipt.

10) Property Card / 7/12 Extract.

11) 6D Extract.

12) 8 A Extract, if applicable.

13) If the land is within the Survey Limits, collect the City Survey Extract instead of the 7/12, 6D, 8A.

14) Title and Search Report.

15) Copy of bye laws and registration certificate of the society in case the society is a registered cooperative society.

16) Index 2 issued by the sub registrar.

17) Copy of Draft sale agreement.

18) Partnership deed/MOA/AOA of the builder /Developer.

19) Marketing Brochure / highlights of the project.

20) Copies of Sanction plan with technical request.

21) Carpet and Saleable area Statement.

22) Public Notice and its objection if any.

23) APF application form.

24) Covering Letter indicating the LOD submitted.

25) Cancelled cheques.

26) Construction Schedule.

27) Payment Schedule.

28) RERA Certificate.

III) Disbursement List of Documents

IF APF Project

1) Original Agreement with index2.

2) NOC from Builder.

3) Demand letter from Builder.

4) Payment receipt from Builder.

5) Allotment letter or Possession letter from Builder.

6) Architecture report from Builder.

7) ROC and Lien letter from Builder – if project is fund by bank.

8) OCR clearance. (Own contribution –requires bank statement details & OCR Source confirmation via Email).

9) Docket kit sign duly signed by all partners/ loan applicants.

10) Sanction letter copy duly signed.

11) Facility agreement duly franked and signed.

12) 7 security cheque in favour of Bank.

13) Any other documents as per:

            a) Credit Manager’s requirement.

            b) Sanction condition on sanction letter.

14) If applicant partner owns < than 51% stake in the company:

            a) All partners & partnership firm to be co-applicant in loan.

            b) Financials of all partners & partnership firm.

If Non-APF Project

All documents mentioned above in the APF project checklist along with the following two additional documents:

1) Title search Report.

2) Any other documents as per property legal report.

If you are looking for housing loan guidance for your property purchase in Mumbai, visit Loanfasttrack on https://www.loanfasttrack.com/. Loanfasttrack provides you hassle free services at your doorsteps with comparative evaluations of more than 13+ top banks, with no additional cost. You can also contact us on 9321020476 or email on info@loanfasttrack.com. 

About Loanfasttrack– Loanfasttrack is a Mumbai based loan provider company since 2015 offering loan services in Mumbai on– housing loan in Mumbai, mortgage loan in Mumbai, personal loan in Mumbai, business Loan, unsecured business loans, home loan transfer, top-up loans, car loans, educational loans and loan transfers.

It also helps you:

√ To find the best bank for home loan

√ To get lowest home loan rates in Mumbai

√ To get an instant loan in Mumbai

√ To get instant personal loan in Mumbai & business loan in Mumbai

√ To make you qualify for the maximum loan against property eligibility

√ To get a low cost home loan balance transfer

√ To get assured low interest rates for loan against property in Mumbai

A complete document checklist till disbursement of NRP / Commercial loan is givens below:

Sanction List Of Documents

KYC

1) Applicant and co applicant pan card copy.

2) Applicant and co-applicant latest passport size colour photograph. 

3) Residence proof – copy of aadhaar and electricity bill.

4) Bank form duly signed by applicant & co-applicant.

Financial Documents

1) 3 years latest financials of the applicant with Saral Copy, Balance Sheet, P&L account, Capital Account – CA certified with membership no.

2) Latest 12 months bank account statement of the current account.

3) Latest 12 months bank account statement of all savings account.

4) Latest 3 years Form no-26 AS.

5) Latest 1 year Copy of GST returns – 3B form.

6) For rental income receivable- if any:

a) Copy of registered rental agreement.

b) Latest 1 year bank account statement reflecting the rental credit.

7) Debtors & Creditors statement aging for 1 year-CA certified.

Other Documents

1) Business profile on the letter head of the company.

2) Business proof – GST registration, Ghumastha or Copy of AAdhar Udoyg.

3) Copy of contract letter if received any contracts.

4) If proprietor profile is:

            a) Chartered Account (CA) – Copy of COP & passing certificate.

            b) Doctor – Copy of Degree Certificate.

9) Details of all existing loan along with the sanction letters (for calculating loan obligation).

10) Processing fees cheque in favour of bank/NBFC.

Documents For Conducting Legal & Technical Process (Of The Property)

If APF- If the project is approved by bank & NBFC, only technical of the property is done & legal is not mandatory. 

Documents required for technical process– cost sheet & approved plan copy from builder.

Document required for legal – Nill.

If NON- APF– If the project is not approved by bank & NBFC, both legal and technical of the property is mandatory.

Documents required for technical – cost sheet & approved plan copy from builder.

Document required for Legal – copy of draft agreement from the builder.

On the basis of draft agreement a lawyer’s opinion is taken on non-APF project and a legal report for the property is generated by the lawyer, wherein he might demand additional copies of few documents from the builder. Such lists of copies demand are:

1) Sales Deed/Lease Deed/Development Agreement of the builder/society

2) If a development agreement is executed, power of Attorney from Land owner.

3) Chain of agreements from the previous landowner.

4) Layout Copy.

5) Approved Layout and building plans.

6) Commencement Certificate from Municipal Council/Corporation.

7) Completion Certificate.

8) ULC Certificate for Clearance of land under ‘Urban Land Ceiling Act’1976.

9) N.A permission and Latest N.A tax receipt.

10) Property Card / 7/12 Extract.

11) 6D Extract.

12) 8 A Extract, if applicable.

13) If the land is within the Survey Limits, collect the City Survey Extract instead of the 7/12, 6D, 8A.

14) Title and Search Report.

15) Copy of bye laws and registration certificate of the society in case the society is a registered cooperative society.

16) Index 2 issued by the sub registrar.

17) Copy of Draft sale agreement.

18) Partnership deed/MOA/AOA of the builder /Developer.

19) Marketing Brochure / highlights of the project.

20) Copies of Sanction plan with technical request.

21) Carpet and Saleable area Statement.

22) Public Notice and its objection if any.

23) APF application form.

24) Covering Letter indicating the LOD submitted.

25) Cancelled cheques.

26) Construction Schedule.

27) Payment Schedule.

28) RERA Certificate.

Disbursement List of Documents

IF APF Project

1) Original Agreement with index2.

2) NOC from Builder.

3) Demand letter from Builder.

4) OCR clearance. (Own contribution –required bank statement details & Source).

5) Docket kit sign and franking 0.2% of loan amount.

6) If project is fund by the bank- ROC and Lien letter from Builder.

7) Payment receipt from Builder.

8) Architecture report from Builder.

9) Allotment letter or Possession letter from Builder.

10) 7 security cheque in favour of Bank.

11) Administration Fess –clearance by cheque or DD-demand draft.

12) Facility agreement duly franked and signed.

13) Sanction letter copy duly signed.

14) Cheque or DD-demand draft towards Administration Fess.

15) Any other documents as per:

            a) Credit Manager’s requirement.

            b) Sanction condition on sanction letter.

If Non-APF Project

All documents mentioned above in the APF project checklist along with the following two documents:

1) Title search Report.

2) Any other documents as per property legal report.

If you are looking for housing loan guidance for your property purchase in Mumbai, visit Loanfasttrack on https://www.loanfasttrack.com/. Loanfasttrack provides you hassle free services at your doorsteps with comparative evaluations of more than 13+ top banks, with no additional cost. You can also contact us on 9321020476 or email on info@loanfasttrack.com. 

About Loanfasttrack– Loanfasttrack is a Mumbai based loan provider company since 2015 offering loan services in Mumbai on– housing loan in Mumbai, mortgage loan in Mumbai, personal loan in Mumbai, business Loan, unsecured business loans, home loan transfer, top-up loans, car loans, educational loans and loan transfers.

It also helps you:

√ To find the best bank for home loan

√ To get lowest home loan rates in Mumbai

√ To get an instant loan in Mumbai

√ To get instant personal loan in Mumbai & business loan in Mumbai

√ To make you qualify for the maximum loan against property eligibility

√ To get a low cost home loan balance transfer

√ To get assured low interest rates for loan against property in Mumbai

I) Checklist for loan sanction.

II) Documents required for legal and technical – (For APF & Non- APF projects).

III) Document checklist for disbursement process.

I) Checklist for Loan Sanction

KYC

1) Company pan card copy along with stamp & director signature.

2) Pan card copy of all directors. 

3) One Passport size colour photograph of all applicants.

4) Copy of residence proof (passport/electricity bill & Aadhaar card copy) of all directors.

5) Copy of office proof (electricity bill/telephone bill).

6) Pan card of shareholders having minimum stake of 51%.

Financial Documents

1) CA certified copies with membership number:

a) 3 years latest financials of the company including Saral Copy, computation of      income, Balance Sheet, P&L account, Capital Account.

b) 3 years latest financials of all directors including saral copy, computation of income, Balance Sheet, P&L account, Capital Account.

            c) Company Annual report.

            d) Directors report.

            e) Auditor Report and Annexure to auditor’s report.

            f) Tax audit report (Form 3CB & 3CD) (42 Points) -If applicable.

            g) Copy of company’s Debtors & Creditors aging 1 Year – if case is booked under   banking product.

2) Latest 12 months bank account statement of all directors.

3) Latest 18 months bank account statements of all current accounts of the company.

4) Latest 3 years Form no-26 AS.

5) Latest 1 year Copy of GST returns – 3B form.

6) Director’s latest 4 months salary slips.

7) Director’s latest 2 years form 16.

8) Director’s salary credit statement for 6 months.

9) For any rental income receivable b y the director:

            a) Copy of registered rental agreement.

            b) Latest 1 year bank account statement reflecting the rental credit.

Other Documents

1) MOA & AOA of the company. 

2)) List of directors and share holding of the company- CA certified.

3) Business/company profile on the letter head of the company.

4) Business proof – GST registration, Ghumastha or Copy of Aadhar Udoyg.

5) Copy of contract letter- if any.

6) If applicant Director is: a) Chartered Account (CA) – Copy of COP & passing certificate.

                                       b) Doctor – Copy of Degree Certificate.

7) Details of all existing loan along with the sanction letters (for calculating loan obligation) of the applicant-director.

8) Details of all existing loan along with the sanction letters (for calculating loan obligation) of the company.

9) Processing fees cheque in favour of bank/NBFC.

11) Bank form duly signed by applicant (director) and co-applicant/directors/company.

12) Any other documents as required by the credit manager.

II) Checklist For Legal &Technical Document

For APF Projects- APF means where the builder project is approved by bank & NBFC

Documents required for technical – cost sheet & approved plan copy from builder.

Documents required for legal – Nill. (Legal is not mandatory in APF projects).

For NON- APF Projects – Non-APF means where the builder project is not approved by bank & NBFC. Under such cases both legal and technical of the property is mandatory.

Documents required for technical – cost sheet & approved plan copy from builder.

Documents required for Legal – copy of draft agreement from the builder.

On the basis of draft agreement a lawyer makes the property’s legal report. The legal report may demand for additional documents from builder. List of such additional documents required would be:

1) Sales Deed/Lease Deed/Development Agreement of the builder/society

2) If a development agreement is executed, power of Attorney from Land owner.

3) Chain of agreements from the previous landowner.

4) Layout Copy.

5) Approved Layout and building plans.

6) Commencement Certificate from Municipal Council/Corporation.

7) Completion Certificate.

8) ULC Certificate for Clearance of land under ‘Urban Land Ceiling Act’1976.

9) N.A permission and Latest N.A tax receipt.

10) Property Card / 7/12 Extract.

11) 6D Extract.

12) 8 A Extract, if applicable.

13) If the land is within the Survey Limits, collect the City Survey Extract instead of the 7/12, 6D, 8A.

14) Title and Search Report.

15) Copy of bye laws and registration certificate of the society in case the society is a registered cooperative society.

16) Index 2 issued by the sub registrar.

17) Copy of Draft sale agreement.

18) Partnership deed/MOA/AOA of the builder /Developer.

19) Marketing Brochure / highlights of the project.

20) Copies of Sanction plan with technical request.

21) Carpet and Saleable area Statement.

22) Public Notice and its objection if any.

23) APF application form.

24) Covering Letter indicating the LOD submitted.

25) Cancelled cheques.

26) Construction Schedule.

27) Payment Schedule.

28) RERA Certificate.

III) Checklist For Disbursement Process

IF APF Project

1) Original Agreement with index2.

2) NOC from Builder.

3) Demand letter from Builder.

4) OCR clearance. (Own contribution –required bank statement details & Source).

5) Docket kit sign and franking 0.2% of loan amount.

6) If project is fund by the bank- ROC and Lien letter from Builder.

7) Payment receipt from Builder.

8) Architecture report from Builder.

9) Allotment letter or Possession letter from Builder.

10) 7 security cheque in favour of Bank.

11) Administration Fess –clearance by cheque or DD-demand draft.

12) Facility agreement duly franked and signed.

13) Sanction letter copy duly signed.

14) Cheque or DD-demand draft towards Administration Fess.

15) Any other documents as per:

            a) Credit Manager’s requirement.

            b) Sanction condition on sanction letter.

16) If applicant partner owns < than 51% stake in the company:

            a) All partners & partnership firm to be co-applicant in loan.

            b) Financials of all partners & partnership firm.

If Non-APF Project

All documents mentioned above in the APF project checklist along with the following two documents:

1) Title search Report.

2) Any other documents as per property legal report.

Note:   1) All documents have to self -attested by respective, applicants & Co-applicants.

            2) All property owners have to be on the loan structure.

If you are looking for housing loan guidance for your property purchase in Mumbai, visit Loanfasttrack on https://www.loanfasttrack.com/. Loanfasttrack provides you hassle free services at your doorsteps with comparative evaluations of more than 13+ top banks, with no additional cost. You can also contact us on 9321020476 or email on info@loanfasttrack.com. 

About Loanfasttrack– Loanfasttrack is a Mumbai based loan provider company since 2015 offering loan services in Mumbai on– housing loan in Mumbai, mortgage loan in Mumbai, personal loan in Mumbai, business Loan, unsecured business loans, home loan transfer, top-up loans, car loans, educational loans and loan transfers.

It also helps you:

√ To find the best bank for home loan

√ To get lowest home loan rates in Mumbai

√ To get an instant loan in Mumbai

√ To get instant personal loan in Mumbai & business loan in Mumbai

√ To make you qualify for the maximum loan against property eligibility

√ To get a low cost home loan balance transfer

√ To get assured low interest rates for loan against property in Mumbai

I) Checklist for loan sanction.

II) Documents required for legal and technical &

III) Document checklist for disbursement process.

I) List Of Documents Required For Loan Sanction Process

KYC

1) Pan card copy of all partners.

2) Company pan card copy along with stamp & director signature.

3) Copy of residence proof (passport/electricity bill & Aadhaar card copy).

4) Copy of office proof (electricity bill/telephone bill) of partnership firm.

Financial Documents

1) 3 years latest financials of the applicant including Saral Copy, computation of income, Balance Sheet, P&L account, Capital Account – CA certified with membership no.

2) 3 years latest financials of all partners including saral copy, computation of income, Balance Sheet, P&L account, Capital Account – CA certified with membership no.

3) Latest 12 months bank account statement of all partners.

4) All current account statements of the partnership firm updated for a latest of 18 months.

5) Latest 3 years Form no-26 AS.

6) Latest 1 year Copy of GST returns – 3B form.

7) Tax Audit Report (Form 3CB & 3CD) (42 Points).

8) Debtors & Creditors statement aging for 1 year-CA certified.

9) For rental income receivable- if any:

            a) Copy of registered rental agreement.

            b) Latest 1 year bank account statement reflecting the rental credit.

Other Documents

1) True certified copy of partnership deed.

2) Business/company profile on the letter head of the company.

3) Business proof – GST registration, Ghumastha or Copy of Aadhar Udoyg.

4) Copy of contract letter if received any contracts.

5) If applicant partner is:
a) Chartered Account (CA) – Copy of COP & passing certificate.

b) Doctor – Copy of Degree Certificate.

6) Details of all existing loan along with the sanction letters (for calculating loan obligation) of the applicant.

7) Details of all existing loan along with the sanction letters (for calculating loan obligation) of the partnership firm.

8) Processing fees cheque in favour of bank/NBFC.

9) Bank form duly signed by applicant and co-applicant/partner/company.

II) Legal &Technical Document checklist

If APF- If the project is approved by bank & NBFC, only technical of the property is done & legal is not mandatory. 

Documents for technical – cost sheet & approved plan copy from builder.

Documents for legal – Nill.

If NON- APF– If the project is not approved by bank & NBFC, both legal and technical of the property is mandatory.

Documents for technical – cost sheet & approved plan copy from builder.

Documents for Legal – copy of draft agreement from the builder.

On the basis of draft agreement a lawyer’s opinion is taken on non-APF project and a legal report for the property is generated by the lawyer, wherein he might demand additional copies of few documents from the builder. Such lists of copies demand are:

1) Sales Deed/Lease Deed/Development Agreement of the builder/society

2) If a development agreement is executed, power of Attorney from Land owner.

3) Chain of agreements from the previous landowner.

4) Layout Copy.

5) Approved Layout and building plans.

6) Commencement Certificate from Municipal Council/Corporation.

7) Completion Certificate.

8) ULC Certificate for Clearance of land under ‘Urban Land Ceiling Act’1976.

9) N.A permission and Latest N.A tax receipt.

10) Property Card / 7/12 Extract.

11) 6D Extract.

12) 8 A Extract, if applicable.

13) If the land is within the Survey Limits, collect the City Survey Extract instead of the 7/12, 6D, 8A.

14) Title and Search Report.

15) Copy of bye laws and registration certificate of the society in case the society is a registered cooperative society.

16) Index 2 issued by the sub registrar.

17) Copy of Draft sale agreement.

18) Partnership deed/MOA/AOA of the builder /Developer.

19) Marketing Brochure / highlights of the project.

20) Copies of Sanction plan with technical request.

21) Carpet and Saleable area Statement.

22) Public Notice and its objection if any.

23) APF application form.

24) Covering Letter indicating the LOD submitted.

25) Cancelled cheques.

26) Construction Schedule.

27) Payment Schedule.

28) RERA Certificate.

III) Disbursement List of Documents

IF APF Project

1) Original Agreement with index2.

2) NOC from Builder.

3) Demand letter from Builder.

4) OCR clearance. (Own contribution –required bank statement details & Source).

5) Docket kit sign and franking 0.2% of loan amount.

6) If project is fund by the bank- ROC and Lien letter from Builder.

7) Payment receipt from Builder.

8) Architecture report from Builder.

9) Allotment letter or Possession letter from Builder.

10) 7 security cheque in favour of Bank.

11) Administration Fess –clearance by cheque or DD-demand draft.

12) Facility agreement duly franked and signed.

13) Sanction letter copy duly signed.

14) Cheque or DD-demand draft towards Administration Fess.

15) Any other documents as per:

            a) Credit Manager’s requirement.

            b) Sanction condition on sanction letter.

16) If applicant partner owns < than 51% stake in the company:

            a) All partners & partnership firm to be co-applicant in loan.

            b) Financials of all partners & partnership firm.

If Non-APF Project

All documents mentioned above in the APF project checklist along with the following two documents:

1) Title search Report.

2) Any other documents as per property legal report.

If you are looking for housing loan guidance for your property purchase in Mumbai, visit Loanfasttrack on https://www.loanfasttrack.com/. Loanfasttrack provides you hassle free services at your doorsteps with comparative evaluations of more than 13+ top banks, with no additional cost. You can also contact us on 9321020476 or email on info@loanfasttrack.com. 

About Loanfasttrack– Loanfasttrack is a Mumbai based loan provider company since 2015 offering loan services in Mumbai on– housing loan in Mumbai, mortgage loan in Mumbai, personal loan in Mumbai, business Loan, unsecured business loans, home loan transfer, top-up loans, car loans, educational loans and loan transfers.

It also helps you:

√ To find the best bank for home loan

√ To get lowest home loan rates in Mumbai

√ To get an instant loan in Mumbai

√ To get instant personal loan in Mumbai & business loan in Mumbai

√ To make you qualify for the maximum loan against property eligibility

√ To get a low cost home loan balance transfer

√ To get assured low interest rates for loan against property in Mumbai

Sanction Process

Find below the list of documents required for sanction process.

1) Applicant and Co-Applicant’s photograph.                                                       

2) Applicant and Co-Applicant’s pan card copy.

3) Applicant and Co-Applicant’s residence proof electric bill & adhar card copy.

4) Latest 4 months salary slips.

5) Latest 6 months bank account statements. 

6) Latest 2 years Form 16.

7) Latest 1 year bonus copy.

8) If receiving rental income – registered rental agreement copy & 12 months rental credit statement.

9) One cheque favouring bank name towards the processing fees from the salary account.

Legal & Technical Process

If APF- If the project has APF No that is if the project is approved by the lender bank & NBFC, only technical of the property is done & legal is not mandatory. 

Documents required for technical – cost sheet & approved plan copy from builder.

Document required for legal – Nill.

If NON- APF– If the project is not approved by the lender bank & NBFC both legal and technical of the property is mandatory.

Documents required for technical – cost sheet & approved plan copy from builder.

Document required for Legal – copy of draft agreement from the builder.

On the basis of draft agreement a lawyer’s opinion is taken on non-APF project and the lawyer makes a legal report for the property which demands certain copies of documents from the builder. Such lists of copies demanded from the builder are:

1) Sales Deed/Lease Deed/Development Agreement of the builder/society

2) If a development agreement is executed, power of Attorney from Land owner.

3) Chain of agreements from the previous landowner.

4) Layout Copy.

5) Approved Layout and building plans.

6) Commencement Certificate from Municipal Council/Corporation.

7) Completion Certificate.

8) ULC Certificate for Clearance of land under ‘Urban Land Ceiling Act’1976.

9) N.A permission and Latest N.A tax receipt.

10) Property Card / 7/12 Extract.

11) 6D Extract.

12) 8 A Extract, if applicable.

13) If the land is within the Survey Limits, collect the City Survey Extract instead of the 7/12, 6D, 8A.

14) Title and Search Report.

15) Copy of bye laws and registration certificate of the society in case the society is a registered cooperative society.

16) Index 2 issued by the sub registrar.

17) Copy of Draft sale agreement.

18) Partnership deed/MOA/AOA of the builder /Developer.

19) Marketing Brochure / highlights of the project.

20) Copies of Sanction plan with technical request.

21) Carpet and Saleable area Statement.

22) Public Notice and its objection if any.

23) APF application form.

24) Covering Letter indicating the LOD submitted.

25) Cancelled cheques.

26) Construction Schedule.

27) Payment Schedule.

28) RERA Certificate.

Disbursement Process

If APF

The lists of documents required for the disbursement of the loan in case of APF project are:-

1) Original Agreement with index2.

2) NOC from Builder.

3) Demand letter from Builder.

4) OCR clearance. (Own contribution –required bank statement details & Source).

5) Docket kit sign and franking 0.2% of loan amount.

6) If project is fund by the bank- ROC and Lien letter from Builder.

7) Payment receipt from Builder.

8) Architecture report from Builder.

9) Allotment letter or Possession letter from Builder.

10) 7 security cheque in favour of Bank.

11) Administration Fess –clearance by cheque or DD-demand draft.

12) Facility agreement duly franked and signed.

13) Sanction letter copy duly signed.

14) Administration Fess –clearance by cheque or DD-demand draft.

15) 7- Security mandate cheque in favour of Bank.

If Non-APF

1) Original Agreement with index2.

2) NOC from Builder.

3) Demand letter from Builder.

4) OCR clearance. (Own contribution –required bank statement details & Source).

5) Docket kit sign and franking 0.2% of loan amount.

6) If project is fund by the bank- ROC and Lien letter from Builder.

7) Payment receipt from Builder.

8) Architecture report from Builder.

9) Allotment letter or Possession letter from Builder.

10) 7 security cheque in favour of Bank.

11) Administration Fess –clearance by cheque or DD-demand draft.

12) Facility agreement duly franked and signed.

13) Sanction letter copy duly signed.

14) Any other documents as per property legal report.

15) Cheque or DD-demand draft towards Administration Fess.

16) Title search Report.

Documents required for Sanction Process

KYC

1) Applicant and co applicant pan card copy.

2) Applicant and co-applicant latest passport size colour photograph. 

3) Residence proof – copy of aadhaar and electricity bill.

4) Bank form duly signed by applicant & co-applicant.

Financial Documents

1) Latest 2 years Form 16.

2) Latest 4 months salary slips.

3) Latest 1 year bonus copy.

4) Latest 6 months updated salary account statement. 

5) For rental income receivable if any- Copy of registered rental agreement With 12 months rental credit statement of bank account.

6) For agricultural income receivable if any- Latest 2 years ITR copy reflecting agricultural income.

7) If joined new company –

            a) Copy of resignation letter.

            b) Copy of joining letter/ appointment letter/ offer letter of the new company.

            c) One month salary credited – from the new company.

8) Processing fees Cheque for the said amount of the bank/NBFC.

Documents required for Conducting Legal & Technical Process (Of The Property)

If APF- If the project is approved by bank & NBFC, only technical of the property is done & legal is not mandatory. 

Documents required for technical process– cost sheet & approved plan copy from builder.

Document required for legal – Nill.

If NON- APF– If the project is not approved by bank & NBFC, both legal and technical of the property is mandatory.

Documents required for technical – cost sheet & approved plan copy from builder.

Document required for Legal – copy of draft agreement from the builder.

A lawyer’s opinion is taken on non-APF project on the basis of draft agreement and a property’s legal report is generated by the lawyer. The legal report so generated might require additional documents from the builder. Such lists of additional documents required are:

1) Sales Deed/Lease Deed/Development Agreement of the builder/society

2) If a development agreement is executed, power of Attorney from Land owner.

3) Chain of agreements from the previous landowner.

4) Layout Copy.

5) Approved Layout and building plans.

6) Commencement Certificate from Municipal Council/Corporation.

7) Completion Certificate.

8) ULC Certificate for Clearance of land under ‘Urban Land Ceiling Act’1976.

9) N.A permission and Latest N.A tax receipt.

10) Property Card / 7/12 Extract.

11) 6D Extract.

12) 8A Extract, if applicable.

13) If the land is within the Survey Limits, collect the City Survey Extract instead of the 7/12, 6D, 8A.

14) Title and Search Report.

15) Copy of bye laws and registration certificate of the society in case the society is a registered cooperative society.

16) Index 2 issued by the sub registrar.

17) Copy of Draft sale agreement.

18) Partnership deed/MOA/AOA of the builder /Developer.

19) Marketing Brochure / highlights of the project.

20) Copies of Sanction plan with technical request.

21) Carpet and Saleable area Statement.

22) Public Notice and its objection if any.

23) APF application form.

24) Covering Letter indicating the LOD submitted.

25) Cancelled cheques.

26) Construction Schedule.

27) Payment Schedule.

28) RERA Certificate.

Disbursement List of Documents

IF APF Project

1) Original Agreement with index2.

2) NOC from Builder.

3) Demand letter from Builder.

4) OCR clearance. (Own contribution –required bank statement details & Source).

5) Docket kit sign and franking 0.2% of loan amount.

6) If project is fund by the bank- ROC and Lien letter from Builder.

7) Payment receipt from Builder.

8) Architecture report from Builder.

9) Allotment letter or Possession letter from Builder.

10) 7 security cheque in favour of Bank.

11) Administration Fess –clearance by cheque or DD-demand draft.

12) Facility agreement duly franked and signed.

13) Sanction letter copy duly signed.

14) Cheque or DD-demand draft towards Administration Fess.

15) Any other documents as per:

            a) Credit Manager’s requirement.

            b) Sanction condition on sanction letter.

If Non-APF Project

All documents mentioned above in the APF project checklist along with the following two documents:

1) Title search Report.

2) Any other documents as per property legal report.