Loan Against Property in Delhi

​Documents Required​​ for a Loan Against Property in Delhi

The documents*** necessary for a successful loan application process while taking a mortgage loan in Delhi are as below:

• Proof of identity and residence
• Mandatory documents such as PAN Card or Form 60
• Evidence of income such as last 3 months’ salary slips for salaried applicants, whereas proof of business vintage for self-employed applicants
• Property-related documents

***Additional documents may be requested at the time of loan processing.

Eligibility Criteria for Loan Against Property in Delhi

To be eligible for the loan, you need to meet certain criteria:

• Employment: Salaried applicants should be employed by a public or private sector company, or an MNC, and have a minimum of 3 years of work experience.
• Steady Income: Self-employed applicants should be able to demonstrate a consistent income from a business that has been operating for at least 5 years or more.
• City of Residence and Property Ownership: The loan is available for residents of cities such as Delhi, Mumbai, Bangalore, Ahmedabad, Pune, and others. Additionally, you should own a property in one of these cities that can be used as a collateral for the loan.
• Age Limit: If you are a salaried employee, you should be within 28 and 60 years** to apply for a Loan Against Property in Delhi. If you are self-employed, you should be within 25 and 70 years**.

These requirements ensure that you have a stable job and a reliable source of income before granting you the loan. The city limitation is to ensure that the property used as collateral is easily accessible for valuation and other necessary procedures.

**The upper age limit is considered as the age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.