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Required documents for Bank Loan to construct a House

Posted by Rekha PrasadcloseAuthor: Rekha Prasad Name: Rekha Prasad
Email: rekha@legalcrystal.com
Site: http://www.legalcrystal.com/blog/wp-admin
About: High Court Advocate, Author at LegalCrystal-Blog, Mobile : +919480117568See Authors Posts (114) under General

TAGS:BANK LOAN / CONSTRUCTION LOAN / DOCUMENTS FOR HOME LOAN IN INDIA /  LINKS:  US / UK / JAPAN / GERMANY / AUSTRALIA

• LAYOUT PLAN OF THE SITE

• ALLOTMENT LETTER FROM APPROPRIATE AUTHORITY.

• APPROVED BUILDING PLAN.

• “NO ENCUMBRANCE CERTIFICATE “FROM APPROPRIATE AUTHORITY.

• COMMENCEMENT CERTIFICATE.

• A DETAILED ESTIMATE OF COST OF CONSTRUCTION AND PHASES OF CONSTRUCTION.

• NO OBJECTION CERTIFICATE TO MORTGAGE THE PROPERTY.

A bank appoints a technical officer to evaluate a home loan application. The technical officer verifies the original documents, title certificates, clearance certificates, guarantees, security documents, income certificates, address proof etc.  Further, all the furnished information is cross checked with the records and documents submitted.  Each bank may have different criteria.  As such, the required documents may also differ from case to case.

OTHER USEFUL LINKS:

India :

http://www.gharabari.com/doc%20for%20Home%20loans.asp

US :

http://www.wikihow.com/Get-a-Construction-Loan-(US)

Germany :

http://www.goftp.com/qna/What_kind_of_documents_do_i_need_to_appy_for_a_loan-qna4832.html

Japan :

http://www.loanpage.com/questions/what-kind-of-documents-are-required-for-a-loan.aspx

Australia :

http://www.xinc.net.au/home_loans/documentation.html