Real Estate

Applying for a Loan Against Property? Here are the Required Documents

If you require a huge loan and have a property as collateral, then Loan Against Property is the best option for you. You can get a very high value for the property which can assist you financially. It is one of the most secure loans and very beneficial to the borrower as the lenders can provide a value higher than the market.

The entire process of getting a Loan against property approved is straightforward. You need to fulfill your eligibility criteria and have all the required documents ready. Remember to keep the No Objection Certificate and the ownership papers of the property available. Here is the detailed list of a loan against property documents required.

Required Documents for Loan Against Property are:-

  1. ID Proof required for LAP-

 It is necessary to have a PAN card and any of the documents mentioned below:

  • Aadhar card and Voter ID 
  • Driving License
  • Any government-issued photo ID card
  • A letter from any recognised public authority that verifies the identity of the borrower with a photograph. The letter will not be valid after 30 days of verification.
  1. Address Proof required for LAP-

 You must have one of the documents mentioned below –

  • Voter ID 
  • Passport
  • Aadhar Card
  • Utility bill of the latest submission
  • The agreement of rent signed on a stamp paper
  • A letter from any recognised public authority that verifies the identity and the home of the borrower
  • Statement of the credit card which is earlier than three months
  • Residence letter issued by the employer on the company’s letterhead
  • Receipt of the municipality tax
  • Family pension payment orders (PPOs) issued by Govt. departments during the retirement period of an employee. The address of the employee must be written on it.
  • A letter of allotment of accommodation from the employer issued by State or Central Government statutory, and public sector undertakings, financial institutions, scheduled commercial banks
  • Leave and license agreements of the official residence allotted by the employers
  • Any document issued by the government department of the foreign jurisdiction
  1. Proof of income

The documents mentioned below are required –

  • Payslip of the past two months
  • Bank statement of the past two months of the account in which the salary is credited
  • Latest Form 16 / ITR
  1. Additional Documents

All documents associated with ongoing loans alongside the repayment statement of the bank for the past six months

  1. Documents of the property

The documents mentioned below are required for the loan-

  • A copy of the checklist of property documents
  • A copy of the approved plan

Here are the criteria for the loan against property eligibility-

  • The borrower must be an Indian resident.
  • The borrower can be either salaried or self-employed.
  • The lender also checks your savings and debts. It is suggested that you clear off the debts to get the loan easily approved.
  • It is necessary to have a co-applicant for increasing the value of the loan. It also enables you to get low-interest rates. It can be a relative, business partner or a private company.
  • The minimum age requirement of the borrower is 21 years.
  • For salaried individuals, age should not be more than 60 years. And for self-employed individuals, age must not be more than 70 years. 
  • You must have an excellent credit score.
  • If the income of the borrower is not considered, then the minimum age can 18 years. 


All the information about the mandatory documents is mentioned above. Make sure to keep all the papers ready before applying for the loan. Many schemes are available in the market. But before choosing one of them must check & keep all the loan against property documents ready. You can choose from any of them that meets your requirements. 

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