{"id":20465,"date":"2023-08-28T13:13:34","date_gmt":"2023-08-28T13:13:34","guid":{"rendered":"https:\/\/tata-blog.osian.dev\/blog\/?p=20465"},"modified":"2024-12-20T21:35:11","modified_gmt":"2024-12-20T16:05:11","slug":"list-of-documents-required-for-getting-a-home-loan-for-under-construction-property","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-home\/list-of-documents-required-for-getting-a-home-loan-for-under-construction-property\/","title":{"rendered":"List of Documents Required for Getting a Home Loan For Under construction Property"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Thinking of buying a property under construction? Well, it\u2019s a wise choice, given how expensive ready-to-move-in and resale properties are compared to an under-construction property.<\/p>\n\n\n\n<p>Nevertheless, an under-construction house is still a considerable expense. You\u2019ll still require a loan to finance the purchase. Fortunately, there\u2019s a world of lenders out there that offer convenient and affordable home loans for under-construction properties. All you need to do is meet their eligibility conditions and furnish the requested paperwork.<\/p>\n\n\n\n<p>To help you save the hassle and time, here\u2019s a list of documents you should keep ready when applying for a deconstruction property loan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>List of documents required for under-construction property loan<\/strong><\/h2>\n\n\n\n<p>Document verification is an integral step in the <a href=\"https:\/\/tata-blog.osian.dev\/home-loan.html\">home loan<\/a> application process. Not presenting the paperwork on time can cause unnecessary delays.<\/p>\n\n\n\n<p>Here\u2019s the complete list of documents required to make your application process go a lot smoother:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Khata Certificate and Khata extract<\/li>\n\n\n\n<li><a href=\"https:\/\/tata-blog.osian.dev\/blog\/loan-for-home\/what-is-sale-deed-in-home-loan\/\">Sale deed<\/a><\/li>\n\n\n\n<li>KYC (Know Your Customer) documents for income proof<\/li>\n\n\n\n<li>No Objection Certificate (NOC) issued by the builder on their letterhead<\/li>\n\n\n\n<li>Agreement with the builder, duly registered and stamped<\/li>\n\n\n\n<li>Letter from architect\/builder indicating the project\u2019s progress<\/li>\n<\/ul>\n\n\n\n<p>If the project isn\u2019t registered yet, you must ask the builder to provide you with the following documents:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>An original copy of \u2018money receipt\u2019 issued by the Sub-Registrar<\/li>\n\n\n\n<li>A copy of the Own Contribution Amount Proof<\/li>\n\n\n\n<li>A true copy of the agreement with the builder<\/li>\n\n\n\n<li>Acknowledged copy of the authority letter, addressed to the Sub-Registrar<\/li>\n\n\n\n<li>A copy of the authority letter acknowledged by the builder<\/li>\n<\/ul>\n\n\n\n<p>While seeking the documents mentioned above, you should also ask the builder if the ongoing project has a tie-up with any lenders. If yes, you can directly obtain all the verification documents from the lender itself. However, you don\u2019t need to choose the same lender for your housing loan.<\/p>\n\n\n\n<p style=\"color:#FF0000\"><strong>Additional Read: <\/strong><a href=\"https:\/\/tata-blog.osian.dev\/blog\/home-loan\/home-loan-tax-benefits-for-under-construction-property\/\">Home Loan Tax Benefits for Under Construction Property<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Things to keep in mind before applying for an under-construction housing loan<\/strong><\/h2>\n\n\n\n<p>While looking for a new home, it\u2019s easier to get swayed by flashy advertisements and brochures. However, many builders have a track record of over-promising and under-delivering, resulting in a bad investment. So, before you sign a deal or apply for a loan, here are a few boxes you must check:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You, as a borrower, must visit the project site and physically inspect the quality and progress of the construction<\/li>\n\n\n\n<li>Evaluate the track record of the builder<\/li>\n\n\n\n<li>Make sure that the flat layouts and the carpet area match with the information provided on the property papers<\/li>\n\n\n\n<li>Conduct a thorough valuation of the property and assess its future price appreciation<\/li>\n\n\n\n<li>Make sure that the borrower has all the necessary property certificates<\/li>\n<\/ul>\n\n\n\n<p style=\"color:#FF0000\"><strong>Additional Read: <\/strong><a href=\"https:\/\/tata-blog.osian.dev\/blog\/home-loan\/how-to-calculate-gst-on-under-construction-property\/\">How to Calculate GST on Under-Construction Property<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>To sum up<\/strong><\/h3>\n\n\n\n<p>By keeping all the documents ready, you can secure a housing loan in a speedy and hassle-free manner. If you\u2019re searching for a reliable lender, turn to Tata Capital <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.snapwork.tcl&amp;hl=en\">instant personal loan app<\/a>! Our under-construction property loan benefits include flexible repayments, attractive interest rates, and a seamless application and documentation process.<\/p>\n\n\n\n<p>Start your loan application process today by checking your <a href=\"https:\/\/tata-blog.osian.dev\/home-loan\/eligibility-and-documents.html\">home loan eligibility<\/a> here.<\/p>\n\n\n\n<div class=\"wp-block-group alignwide\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/home-loan.html\">Apply For House Loan<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Thinking of buying a property under construction? Well, it\u2019s a wise choice, given how expensive ready-to-move-in and resale properties are compared to an under-construction property. <\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/home-loan\/list-of-documents-required-for-getting-a-home-loan-for-under-construction-property\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":20466,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-20465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-home"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Documents required for Home Loan Under Construction Property - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"Want to get a Home loan for under construction property? Explore the features and list of documents required for home loan under construction property.\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Documents required for Home Loan Under Construction Property - Tata Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Want to get a Home loan for under construction property? 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