LAP( Loan Against Property)

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Loan Against Property in Delhi NCR

It is a loan where the borrower takes a loan from a bank or financial institution, where the security of the loan is the property owned by the borrower. It can be availed for a variety of purposes such as the purchase of machinery, working capital requirements, home renovation, medical needs, and so on. Apply Loan Against Property in Delhi NCR can be availed against both residential and commercial property, depending on the lender’s policy and property eligibility.

This facility is one of the best options for borrowers as there is no requirement of selling the property. In spite of mortgaging the property, the borrower can still utilize it. Lenders usually maintain a margin while sanctioning a Loan Against Property (also known as LTV or Loan-to-Value). This margin usually ranges from 50–70% of the property value.

Loan against property is an excellent debt consolidation tool. It is much cheaper than unsecured loans and can be used to consolidate all the existing loans at a much lower EMI.

Why Choose Loan Against Property in Delhi NCR via My Loan Adda?

  • High loan amount at lower interest rates

  • Use your property without selling it

  • Loan available against both residential and commercial properties

  • Quick processing and minimal documentation

  • Expert assistance from application to disbursal

Documents Required for Loan Against Property in Delhi NCR

  1. KYC Documents

The borrower should furnish KYC documents regarding identity proof and address proof. These documents include:

Identity Proof

  1. PAN Card
  2. Aadhaar Card
  3. Voter ID
  4. Passport
  5. Driving Licence 

Address proof

  1. Registered Rent agreement
  2. Aadhaar Card
  3. Driving Licence
  4. Lease agreement
  5. Passport
  6. Latest gas/Electricity bill

2.Income Proof – Financial Documents

  1. Salary slips for the last 6 months for salaried employees (In addition, IT returns for the previous 3 years along with Form 16)
  2. IT returns for the past 3 years for self-employed persons (Some banks accept 2 years IT returns as well)
  3. Statement of A/c for the past 1 year where your salary is credited (in the case of salaried people)
  4. Profit and Loss statement and Balance sheet for the last 2 years in the case of self-employed persons
  5. Sales tax, GST registration certificates, if applicable
  6. Partnership deed in case of partnership firms (if the applicant is one of the partners or the firm itself)
  7. Certificate of Incorporation for limited companies(if the applicant is one of the directors or the company itself)

Other Documents:

  1. Loan application form

Property Documents:

  1. Copies of all property documents that can establish the chain of ownership for the past 13 years
  2. Property tax paid receipt
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FAQs

No, you cannot get a 100% loan against property. Most banks and NBFCs offer up to 50%–70% of the property’s market value as LAP, depending on the property type, applicant profile, and lender’s policy.

Interest rates for Loan Against Property in Delhi NCR typically range between 8.50% to 12.50% per annum, depending on the borrower’s credit profile, property type, and the lender. Apply through My Loan Adda to compare and get the best rates.

The minimum CIBIL score required for a Loan Against Property is usually 650 or above. However, a score of 700+ is ideal for getting better interest rates and faster approval.

Eligibility includes:

  • Salaried employees (private or government) with stable income

  • Self-employed professionals and business owners

  • Age: 21–65 years

  • Ownership of a residential or commercial property in their name

  • Satisfactory credit history and repayment capacity

No bank offers a 100% home loan due to RBI regulations. Lenders finance up to 90% of the property value for homes costing up to ₹30 lakhs. The rest must be paid as a down payment.

Zero percent loans are usually promotional offers on products like electronics or furniture. In the case of property loans or LAP, 0% interest loans do not exist. Always check for hidden charges or inflated product prices in such offers.

A CIBIL score below 650 is considered low for a personal loan. With such a score, your loan approval chances drop, and even if approved, the interest rate may be higher. A score above 750 is ideal.

While instant improvement isn’t possible, you can take these steps to raise your score faster:

  • Pay credit card bills and EMIs on time

  • Reduce credit card utilization below 30%

  • Avoid applying for multiple loans at once

  • Regularly check your credit report for errors

  • Maintain a balanced credit mix (secured & unsecured loans)