Are there different documents required for residential and commercial properties?

Yes, Tata Capital requires some different documents for residential and commercial LAP applications. Residential: Building plan approval, occupancy certificate. Commercial: Trade license, GST certificate, utility bills in business name. However, basic ID, income, and ownership proofs are common to both.

Documents Required for Loan Against Property - Mortgage Loan Documents

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Documents Required for Loan Against Property

A Loan Against Property (LAP) allows you to unlock the value of your real estate to fulfill personal or business needs. Keeping all loan against property documents ready before applying for a LAP increases your chances of loan approval and helps save time in the application process. Lenders review these documents to determine your loan eligibility, repayment capacity, and decide the loan amount, loan tenure, and interest rate.

The list of documents required for a mortgage loan includes your photo ID, address, income, business proofs, etc. Since LAP is a secured loan, submitting all details of the property pledged as collateral is mandatory. Property-related documents include registration certificate, mortgage deed, etc.

Read on to discover Tata Capital’s comprehensive loan against property documents list below to prepare yourself for a smooth application process.

If you're a salaried employee and meet the LAP eligibility, you must produce the following documents:

Photograph

Photo Identity Proof : A copy of your Voter ID / Passport / Driving License / Aadhaar Card

Permanent Account Number OR Form 60 (wherever applicable)

Address Proof: A copy of your Voter ID / Passport / Driving License / Aadhaar Card

Signature Verification

Income Proof : Submit Form 16 for the last 2 years and a copy of your bank statements for the last twelve months

Salary Slips : A Copy of your Salary slips for the last three months

If you are a self-employed professional and meet the loan against property eligibility, you must produce the following documents:

Photograph

Photo Identity Proof : A copy of your Voter ID / Passport / Driving License / Aadhaar Card

Permanent Account Number OR Form 60 (wherever applicable)

Address Proof : A copy of your Voter ID / Passport / Driving License / Aadhaar Card

Signature Verification

Income Proof : Income Tax Return, Profit and Loss, Balance Sheet & a copy of your bank statements for the last 12 months

If you are a self-employed individual and meet the LAP eligibility, you must produce the following documents:

Photograph

Photo Identity Proof : A copy of your Voter ID / Passport / Driving License / Aadhaar Card

Permanent Account Number OR Form 60 (wherever applicable)

Address Proof : A copy of your Voter ID / Passport / Driving License / Aadhaar Card

Signature Verification

Income Proof : Income Tax Return, Profit and Loss, Balance Sheet & a copy of your bank statements for the last 12 months

Non-individuals who meet the loan against property eligibility must produce the following documents :

Address Proof : A copy of your Voter ID / Passport / Driving License / Aadhaar Card

Permanent Account Number OR Form 60 (wherever applicable)

Authorised Signatory Verification : Firm KYC

Income Proof : Income Tax Return, Profit and Loss, Balance Sheet & a copy of your bank statements for the last 12 months

Tips to speed up the LAP documentation process

Understanding the list of loan against property documents required is the first step towards a smooth application process. Once you are familiar with them, follow these tips to fast-track the LAP documentation process:

1. Keep all documents ready in a file (income proof, ID, address proof, title deeds).
2. Have a set of photocopies and scanned copies ready for submission.
3. Ensure property records are clear, updated, and dispute-free.
4. Schedule the property valuation at the earliest.
5. Respond to lender queries as early as possible.
6. Verify all details in advance to ensure accuracy and correctness and avoid rework or delays.

FAQs on Loan Documents Required for Mortgage Loan

Yes, Tata Capital requires some different documents for residential and commercial LAP applications.

Residential: Building plan approval, occupancy certificate.
Commercial: Trade license, GST certificate, utility bills in business name.

However, basic ID, income, and ownership proofs are common to both.

Yes, submitting property-related documents is mandatory when applying for a Loan Against Property with Tata Capital. These documents help verify the ownership, legal status, and authenticity of the property, as well as ensure that all property taxes and statutory dues are up to date. They are essential for conducting due diligence and processing your loan application smoothly.

Yes, if you are self-employed or non-individual, you must submit Income Tax Returns (ITR) for prior years along with Profit & Loss statements and Balance Sheets. For salaried applicants, Form 16 for the last 2 years is required instead of full ITRs.

No, an Aadhaar card isn’t strictly mandatory, but you must submit one valid Photo Identity Proof and one address proof.

Tata Capital offers you two different methods of applying for a loan, offline and online. By choosing the online mode of application, you can submit a digital copy of the documents required for a loan against property.

At Tata Capital, the LAP approval and disbursal process typically takes a couple of days. This includes property verification and loan sanctioning. After these steps, the approved loan amount is usually credited to your bank account within 2-3 working days.

If any of the required documents are missing or outdated, you should update them or provide a valid alternative. Inform Tata Capital in advance, as they may allow substitutes or grant time to submit the correct paperwork.

You can still get a loan against property without income proof, but expect higher interest rates. Explaining your income source, stating reasons for missing proofs, or applying with a co-applicant can improve approval chances and strengthen your application.

Yes, co-applicant documents are mandatory when their income is considered in the loan application. This includes immediate family members such as parents, spouse, and adult children. All co-applicants must submit the required documents, including identity and address proof, income proof, and bank statements.

Yes, you can use your spouse’s income records if you apply for a combined loan against property (co-applicant). In that case, both applicants must meet eligibility criteria, and their income, credit score, and documents will be evaluated together.

Tata Capital verifies the applicant’s documents both in person and online. At first, we go through the uploaded copies. Later, before LAP approval, our employee will visit you in person to confirm the documents.