Byers Guide for Bank Loan
Documents required for self-employed persons:
- Updated pass book or Xerox copy of the applicants statement of accounts for the past 6 months
- A Xerox copy of the applicants ration card
- A profile of the applicants business mentioning at least the nature of the business, client list, suppliers, employee strength, geographical spread, etc.
- In the case of a business partnership a copy of the partnership deed, 3 years P & L a/c, B/S, computation of income certified by a CA and individual computation of income and tax returns for last 3 years is required
- In the case of a proprietor or professional 3 years P & L a/c, B/S, computation of income certified by a CA and an income tax return file statement for 3 years is required
- If the company applying for a loan is a Pvt. Ltd. a remuneration certificate, the board
resolution for fixing remuneration, the company's annual report and individual IT returns for last 3 years is required
Documents required for employed persons:
- Latest salary certificate or the original slip
- A Xerox copy of Form no.16 A (TDS Form) from the applicants Employer
- The original certificate from the applicant’s employer for any other allowances that are not reflected in the applicants salary slip
- A Xerox copy of the applicant’s updated bank pass book or a statement of the applicants accounts for last 6 months
- A Xerox copy of the applicant’s voter I.D. card or the applicants Company's I.D. or the applicant’s passport/ ration card
- A passport size photograph of the applicant & co-applicant
FAQs:
We are here to help you solve your problems.
What is CREDAI?
The Confederation of Real Estate Developers' Association of India (CREDAI) is an association formed by developers and builders in India for self-regulating the business of real estate development. CREDAI has more than 8500 member developers and builders through 112 member associations with representation in all the major cities and states of the country. CREDAI has its office at #703, Ansal Bhawan, Street 16, Kasturba Gandhi Marg, New Delhi, Delhi 110001.
What is the purpose of Registration?
By Registration of transaction of immovable property will become permanent public record. This is a notice to the general public. Those getting transfer of property should verify whether such property has been previously encumbered. b. According to Transfer of Property Act right, title or interest can be acquired only if the deed is registered.
What is the difference between buildup area, super buildup area & carpet area?
Carpet Area is the area enclosed within the walls, actual area to lay the carpet. This area does not include the thickness of the inner walls. It is the actual used area of an apartment/office unit/showroom etc. Built up Area is the carpet area plus the thickness of outer walls and the balcony. Super Built Up Area is the built up area plus proportionate area of common areas such
as the lobby, lifts shaft, stairs, etc. The plinth area along with a share of all common areas proportionately divided amongst all unit owners makes up the Super Built-up area. Sometimes it may also include the common areas such, swimming pool, garden, clubhouse, etc. This term is therefore only applicable in the case of multi-dwelling units.
What is a sale deed?
With the help of a Sale Deed, also known as Conveyance Deed, the Seller transfers his rights and interest in the subject matter to the purchaser, who in turns acquires absolute ownership over the property.
What is Lien?
Liens are used to establish a security interest in a property. When a transaction is about to take place between a buyer and seller of a property, Laywer will do a title search to see if there are any liens on the property by searching public records to get the information.
Is registration and stamping of the deed & documents compulsory?
Registration and stamping of the Deeds and Documents is compulsory for any immovable property transacted over the value of Rs. 100/-.
What is housing society?
Housing society is a term used to describe residential complexes usually consisting of buildings each having flats, especially in India. A housing society is a group of house owners generally residing in the same building or the same premises formed as per relevant laws for smooth functioning of utilities and other amenities provided to them. The housing society formed must
be formally registered with the registrar of Co-operatives. Each state has its own rules in this regard. Each building in the same premises may have separate housing society or one. Many housing societies form one federation. Housing societies run on the fees or charges levied by them on house or flat owners.