Documents Required For A Home Loan In A Co-operative Housing Society

1. Identity proof – Driving license – Voters ID – Passport – PAN card – Ration card – Employee ID – Bank passbook – Letter from a recognized public authority or public servant verifying your photograph – Confirmation letter from your employer or another bank verifying your photograph 2. Address proof – Driving license – Voters ID – Passport – Ration card – Bank passbook or Bank account statement – LIC policy/ receipt – Utility bill – telephone, electricity, water, gas (less than 2 months old) – Letter from any recognized public authority verifying residence address of the customer – Letter from your employer 3. Age proof – Driving license – Passport – Bank passbook – PAN card – Birth certificate – 10th standard mark sheet 4.Income proof Income proof and property proof vary for a salaried individual and a self-employed individual. a. Self Employed/Businessmen:- – A brief introduction of Business/Profession – Balance Sheet, profit and loss account statement of income, proof of income tax returns for the last 3 years certified by a CA – Photographs – Receipts of advance tax payments if any made – A photocopy of Registration Certificate of establishment under Shops and Establishments Act/Factories Act – Registration Certificate for deduction of Profession Tax – Certificate of Practice – Receipts of Bank loans – Proof of investments (FD Certificates, Shares, any other fixed asset) b. Salaried individuals – Income Proof (any one of the following): Latest Pay slip Form 16 Increment/Promotion letters Appointment letter Pay slip (Last 2 months) with salary account bank statement Certified letter from Employer IT returns ( for three years ) – Investment proof (FD certificates, shares, any fixed asset etc.) – Documents supporting the financial background of the borrower (liabilities and assets if any) – Photographs 5. Property documents If a flat is purchased from a builder, you need the following property documents: – Original copy of your agreement with the builder – 7/12 extract – This is issued by the concerned land authorities giving details such as the survey numbers, area, date from which current owner is registered as owner etc. – Property register card, which is obtained from the City Survey Department – N.A. permission for the land from the collector, if its agricultural – If the land is agricultural and is being utilized for residential/ commercial/industrial use, then such agricultural land has to be converted to non-agricultural land and a Non-Agriculture Order has to be obtained from the Collector of the district where the property is located. – Search Report and Title Certificate – A search report and title certificate can be obtained from an advocate who will conduct a survey of the title of the property by visiting the office of registrar. A legal opinion can avoid any legal hassles later and is mandatory to be filed with the agreement for sale. – Development agreement between the owner of land and the builder – Copy of order under the Urban land Ceiling Act – Copy of building plans sanctioned by the competent authority – Commencement certificate granted by the Corporation – Building completion certificate – Latest receipts for taxes paid towards the land or property or flat to be purchased – Partnership deed or memorandum of association of the builders firm If a flat is purchased from a Cooperative Society, you need the following property documents – Original share certificate of the Society – Allotment letter from the Society in your name – Copy of the lease deed, if executed – Certificate of the registration of the society – Copy of the bye laws of the Society – No objection certificate from the Society – 7/12 extract or property register card in the Society’s name – Copy of N.A permission for the land from the collector – Search Report and Title Certificate – Copy of order under the Urban Land Ceiling Act – Copy of the building plans sanctioned by a competent authority – Commencement certificate granted by Corporation – The latest receipts of taxes paid for the property – Original Agreement to assign / Deed of assignment If you are constructing on your own land, then you will need the following property documents. – Original sale deed of land and extract of Index II – 7/12 extract or property register card in your name – Copy of N.A. permission for land from the collector – Search and title report – Copy of tax paid under Urban Land Ceiling Act (obtained from Commissionerate of Urban Land Ceiling and Urban Land Tax) – Copy of the building plans sanctioned by a competent authority – Building permission granted by the Corporation – The latest receipts of taxes paid for your land – Estimate of the cost of construction certified by the architect