Ashirbad Services



+91 89175 60806


Tamando main market, Patanjali store 2nd floor, Bhubaneswar

Loan Against Property

Loan against property or LAP is a loan and secured mortgage availed since pledging a property as collateral

Let’s find the best Loan Against Property for you.

You are just a few clicks away from the good offer over mortgage against property. Share you name, mobile number & email identification according to unlock customized faith loan gives between your city. Compare then choose in accordance to you specific requirements barring anybody obligation

Affordable EMI plan

By choosing a long-tenure property loan, you get lower EMI option and ease of repayment.

Attractive interest rates

You get a higher loan amount at low-priced EMI. Unlike personal loans, property loans price much less or provide larger reimbursement flexibility along longer tenure option.

Easy approval & sanction

you can apply for high-ticket LAPs for education, commercial enterprise or personal motives then behalf concerning financing up to Rs. 15 crore with minimal hassles.

Features and Benefits of Loan Against Property

Each lender has their own eligibility criteria for availing LAP. Below are some common criteria to be eligible for a mortgage loan: 

  • Age: Minimum 21 years and maximum 65 years.
  • Profession: Both self-employed individuals and salaried persons with a regular source of income are eligible for a Loan Against Property.
  • Joint applications: Co-applicants are permissible. Lenders can accept the income of the co-applicants for arriving at the eligibility.
  • Ownership:
    • The applicant should have unencumbered property in their name. The property can be residential, commercial, or industrial. 
    • Agricultural land is not acceptable as security for the loan. 
    • Many banks stipulate that the property should either be vacant or self-occupied. 
    • Some of the banks do not consider a property that is let out on rent or lease to third parties. 
    • Some lending institutions sanction loan against vacant residential plots
  • Margin: The margin requirement for Loan Against Property can be 10% to 50% of the market value of the property.
  • Current obligations: The take-home pay norms come into effect. Usually, one should have a take-home pay of 50% after accounting for all the EMIs including the proposed one for the Loan against Property. Hence, it is imperative for the borrowers to declare their current obligations.
  • Credit history: The lending banks are members of CIBIL (Credit Information Bureau (India) Limited). They can pull out the records from CIBIL to determine your credit score. Usually, a credit score in the range of 650 and above is acceptable.

Documents Required for Mortgage Loan

Following are the documents required for mortgage loan:

 Document TypeDocuments Acceptable 
Identity Proof
  • PAN Card
  • Aadhaar Card
  • Voter ID
  • Passport
  • Driving Licence  
 Address Proof
  • Registered Rent agreement
  • Aadhaar Card
  • Driving Licence
  • Lease agreement
  • Passport
  • Latest gas/Electricity bill
Income/Financial Documents
  • Salary slips for the last 6 months for salaried employees (In addition, IT returns for the previous 3 years along with Form 16).
  • IT returns for the past 3 years for self-employed persons (Some banks accept 2 years IT returns as well).
  • Statement of A/c for the past 1 year where your salary is credited (in the case of salaried people).
  • Profit and Loss statement and Balance sheet for the last 2 years in the case of self-employed persons.
  • Sales tax, GST registration certificates, if applicable.
  • Partnership deed in case of partnership firms (if the applicant is one of the partners or the firm itself).
  • Certificate of Incorporation for limited companies(if the applicant is one of the directors or the company itself).
Property Documents 
  • Copies of all property documents that can establish the chain of ownership for the past 30 years
  • Encumbrance certificate for 30 years
  • Property tax paid receipt

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