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What are the important documents required for a home loan in India?


Do you know what’s the greatest achievement an Indian will always boast about? Yes, it’s always the house, with the following statements as to how they got it and the benefits that came along with it. Procuring a perfect house of your choice and getting a good home loan are both important.

Lack of funds may or may not be the main issue. Some individuals get a home loan because of the benefits it holds and for various other reasons. Documents and paperwork are always a hassle, but in order to get a home loan sanctioned, these documents are quite essential.

What is a home loan?

A home loan is something that a bank or a lending firm gives out to suitable applicants. These loans are directly paid to the builder or the owner, either in lump sums or instalments. You must repay the loan in the form of EMI. The lender takes possession of the property as security, and if you are incapable of repaying the borrowed amount, they can legally seize your property.

To make it seamless and quicker, we’ve jotted down the list of documents you will need while purchasing a home:

These are the key list of documents for a home loan one must have:

  • Loan application form.
  • 3 photographs passport sized.
  • Identify proof
  • Residence proof
  • Bank Account Statement/Passbook for the last 6 months.
  • Signature verification by bankers of the applicant.
  • Liabilities statement and Personal Assets.
  • Property detailed documents
  • Salary Certificate (original) from the employer. (Salaried individuals)
  • Form 16/IT Returns for the past 2 financial years. (Salaried individuals)
  • IT Returns/Assessment Orders copies of the last 3 years. (Self-employed professionals)
  • Challans as proof of Advance Income Tax payment. (Self-employed professionals)
  • Proof of business address for non-salaried individuals. (Self-employed professionals)
  • IT returns/Assessment Orders copies of the last 3 years. (Self-Employed Businessmen)
  • Challans as proof of Advance Income Tax payment. (Self-Employed Businessmen)

Below is the list of documents required for NRI applicants:

  • Document establishing KYC.
  • Salary Certificate from employer stating in English the name (as per passport), designation, passport number, date of joining, and latest salary.
  • Last 3 to 6 months’ salary slips reflecting variable components like incentives, overtime, etc.
  • Latest IT Returns (for applicants filing IT returns in the country).
  • For Self Employed NRIs, business documents like Trade Licenses, Sponsor Agreements, Power of Attorney, etc.
  • Copy of Passport showing the page of residence visa.
  • Proof of employment by the Government of the residing country like work permit, labour contract, etc.
  • Documents related to the Property with cost estimates from an Indian Architect or Engineer.
  • Income documents attested by embassy officials are required if there’s no documented evidence for salary credit or fund remittance to India is available.
  • Bank statement copies from overseas for the past 6 months.
  • Last 6 months NRO/NRE bank statement.
  • If an applicant is unavailable in the country at the time of signing documents, Power of Attorney needs to be produced by the person acting on their behalf.
  • CDC (In case of merchant navy)
  • Credit Report from Overseas credit agency (Except Merchant Navy).
  • Email ID of HR (Employer).
  • Employment Profile for the last 5 years.

Let us understand what are the KYC documents that need to be submitted for a home loan application.

The documents below are usually submitted as KYC documents.

Photo Id Proof (Any One Required):

  • PAN card
  • Driving License
  • Voters ID Card
  • Passport

Residence Proof (Any One Required):

  • Electricity Bill
  • Ration Card
  • Telephone Bill
  • Employment Letter
  • Passbook or Bank Statement with address

Proof of Age:

  • PAN card
  • Passport
  • Birth certificate
  • Driving license
  • Bank passbook
  • Marksheet from 10th class

What is the list of documents for a Loan Guarantor?

  • Liabilities Statement and Personal Assets.
  • 2 photographs passport sized.
  • Identify proof.
  • Residence proof.
  • Proof of business address.
  • Signature identification from present bankers.

Here is the list of Property Documents Required for a Home Loan:

  • Deed of Sale or Sale Agreement or Share Certificate (original) in case of a cooperative society.
  • Receipts for taxes paid for Building and Land, certificate of possession, and a certified sketch of the property’s location from revenue authorities.
  • Allotment Letter from Society/Housing Board/Private Builder.
  • Receipts of advance payments for flat purchases.
  • Certificate of Non-encumbrance encompassing the last 12 years/30 years.
  • Receipt of land tax payment and certificate of possession issued by revenue authorities.
  • Permission letter from Appropriate Authority.
  • Approved building plan (showing floor plan for flat purchase).
  • Original No Objection Certificate issued under the ULC Act, 1976.
  • Copy of relative order if agricultural land is being converted.
  • No objection certificate (NOC) from Builder/Housing Society.
  • Detailed estimate of construction cost.
  • Letter from Society/Builder/Housing Board mentioning their bank and account details for instalment remittance.
  • Applicable for purchase of land plot, a declaration by loan borrower stipulating the date by which to construct a house.
  • Report from a lawyer as per standard format.
  • A report stating the valuation of property in a standard format by an empanelled valuer.
  • Post closure of loan, documents required for the handover of original Property documents
  • Power Of Attorney for collecting original documents of Property.
  • In the event of the demise of the loan borrower:
  • Letter requesting handing over of Property documents from Legal Heir/Nominee(s).
  • Letter relinquishing the right to Legal Heirs/Nominees for Property documents handover.

Documents needed for a self-employed applicant:

  • Income Tax Returns (ITR) over the last three years for self-employed individuals.
  • The Company/Balance Firm’s Sheet and Profit & Loss Account Statement (duly attested by a C.A.).
  • Details on a Company’s License (or any other equivalent document).
  • Professional Practice Licence (For Doctors, Consultants, etc.).
  • Certificate of Registration of Establishment (For Shops, Factories & Other Establishments)
  • Proof of Business Location.
  • GST Registration and CIST Return (if applicable).
  • Opinion report of Firm/Co. If loan is taken from financial Institutions.
  • Business proof: Sales Tax Registration (if applicable).
  • Proprietor- Gumasta Licence, Udyog Aadhar, etc.
  • Partnership- Pan card, Partnership deed and Trade Licence.
  • LLP- Firm Registration, Certificate of Incorporation.
  • Company- AOA, MOA, Certificate of incorporation.
  • Business Address Proof- Udyog Aadhar, Utility Bill, Agreement to rent for business, etc. (any one).

Documents needed for a salaried person:

You will need your employment contract or appointment letter if your current job is less than a year old.

For Self-Employed

  • Business Profile.
  • Latest Form 26 AS.
  • Salary slips- last 3months (or Salary Certificate).

(If the salary does not contain bonus/incentives, etc., then salary slips of respective month where bonus/incentives are credited).

  • Bank A/C Statement (Salary) for last 6 months.
  • Form 16 - last 2 years (Part A & B).
  • Employer Certificate, Appointment Letter, Increment Letter, Promotion letter (any one) Duly Attested by employer.
  • Copy of Employee I-Card.
  • If Present job is less than 2 years, relieving letter from the last employer.

In the case of a company, a list of Directors and Shareholders with their holdings is certified by a CA / CS. A partnership deed is required if the company entity is a partnership firm. The Company’s Memorandum and Articles of Association.

SBICAP Securities Limited through its division SBI Realty solutions deals in Pre Launch, Under construction, Ready Possession. SBICAP Securities Limited through its division SBI Realty solutions provides a unified platform for exchange of information & facts for buyers, builders & sellers. SBICAP Securities Limited through its division SBI Realty solutions is merely an intermediary for exchange of information to facilitate the transactions between Builder, Developers / Seller and Customer / Buyer and is not and cannot be a party to or control in any manner any transactions/disputes between the Seller and the Buyer. Projects featured on are SBI approved projects only. SBICAP Securities Limited through its division SBI Realty Solutions shall neither be responsible nor liable to mediate or resolve any disputes or disagreements arising between the Buyer & Seller and both Seller and Buyer shall settle all such disputes without involving SBICAP Securities Limited through its division SBI Realty solutions in any manner whatsoever. The Website provides in depth analysis of the Property Market with more than 2400 Under Construction Projects developed, which are currently under development by more than 800 Developers. The website features latest prices, digital pictures of projects in various construction stages. The focus of the website is on Home Buyers looking to buy or upgrade to a New Home or Invest in under construction project or pre-launches by reputed builders.