We might be living in the electronic age but that doesn't take away the importance
and monopoly of paper as everything to do with law will always be on paper. To stick
by this unwritten rule, there are legal documents that need to be submitted by you
to the HFI for mortgaging and these differ from state to state and also depend on
your property type. The following form a broad outline of the documents required
and a detailed list can be found here.
- Copy of the offer letter sent by the HFI, accepted by you.
- Title documents of the property which include
-Duly registered sale agreement.
-Receipts of your own contribution.
-If needed, land documents indicating ownership.
-Lease agreement, if the property is bought from a development authority
-Mortgage deed if the HFI opts for a registered mortgage.
- No Objection Certificate from the developer, society or development
- Personal Guarantees, if required.
- Documents for alternate or additional security.
- Post dated cheques for the EMIs.
These documents do NOT cover the entire list needed and if it is a resale property,
the pertaining agreements, etc. will also need to be attached.