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Loan Against Property

Let your property
finance your dreams

Niwas ‘Loan against Property’ aims to meet your unique financial requirements to excel at business, or fulfil your personal goals. The loan is available to salaried and self-employed customers. Unlock the value of your property to further your personal and financial growth.

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● FINANCE OF UPTO 60% OF PROPERTY VALUE ● FINANCE OF UPTO 60% OF PROPERTY VALUE
● FINANCE OF UPTO 60% OF PROPERTY VALUE ● FINANCE OF UPTO 60% OF PROPERTY VALUE

Essential features of
your new home loan

Dream Homes, Dream Terms

Avail loans up to ₹ 25 lakh with a tenure of up to 15 years.

Interest-Free Grace Period

Start paying interest only after the loan cheque is released.

Property Financing Freedom

Funding available for various types of properties within/outside municipal limits.

Tailored Eligibility

Enjoy attractive interest rates, doorstep service, simple, fast and transparent processes.

Prepayment Freedom

Individual borrowers bear no prepayment penalty on floating interest rate loans.

Calculator

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your decision now!

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Loan origination charges cannot exceed the loan amount.
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Document checklist:
What we need from you

Keep the following documents handy to enjoy a simple and hassle-free loan application process:

  • PAN card
  • Passport
  • Voter ID card
  • Driving license
  • Government identity card
  • Aadhaar card

  • PAN card
  • Passport
  • Birth certificate
  • Driving license
  • Aadhaar card (if your date of birth is mentioned)

  • Passport
  • Voter ID card
  • Driving license
  • Latest utility bills such as electricity bill, telephone bill, gas pipeline bill and water bill.
  • Aadhaar card
  • Ration card

  • PAN card
  • Passport
  • Driving license
  • Government identity card

  • PAN card
  • Passport
  • Voter ID
  • Ration card
  • Marriage certificate
  • Aadhaar card (if relationship is mentioned)

  • Certificate under Shops and Establishment Act
  • Certificate of registration
  • Latest utility bills such as electricity bill, telephone bill, gas pipeline bill and water bill.
  • Active bank account statement or passbook
  • Property tax receipt
  • Index II of property
  • Registered rent agreement
  • Certificate issued by professional body incorporated under relevant statute.

  • Partnership firm: Partnership deed
  • Company: Certificate of incorporation, Memorandum of Association, Articles of Association, latest CA-certified list of directors and shareholding pattern.
  • Trust: Registration certificate and deed of trust
  • Professionals: Qualifications and registration certificate

  • Certificate under Shops and Establishment Act
  • Certificate of registration
  • Certificate issued by professional body incorporated under relevant statute.

  • Last 2 years audited CA-certified financials along with schedules, sub-schedules/tax audit report (if applicable), computation of income, ITR acknowledgement provisional financials (if applicable), along with VAT returns/GST returns to validate provisional sales figures.
  • Last 3 months salary slip along with their reflection in your bank account (in case of salaried individuals).
  • Form 16 for last two years.

  • Last 12 months bank statements of all active bank accounts.
  • Last 12 months saving bank account of partners and directors (in case of partnership firm/company).

  • Sanction letter of all existing facilities availed from existing bankers/financial institutions/repayment track record for last 12 months (statement of accounts/banking reflections) of all existing loans/statement of accounts for the last 12 months (mandatory in the case of BT for the facility to be taken over).
  • Copy of property papers proposed to be offered as collateral.
  • List of documents and foreclosure letter (mandatory in the case of BT for the facility to be taken over).
  • Any other information required on case-to-case basis.

  • Copy of complete chain documents of the property (as applicable).
  • Copy of agreement to sell (if executed).
  • Copy of allotment letter/buyer agreement (if applicable).
  • Copy of receipt/s of payment/s made to the developer (if applicable).

Disclaimer: The above list is indicative and may require additional documents depending on your case.

Clarifying doubts:
Frequently asked questions

A loan against property (LAP) offered by Niwas Housing Finance is a secured loan where you pledge your residential or commercial property as collateral to access funds. The loan amount is based on a percentage of your property’s market value, enabling you to leverage your assets for significant financing. Niwas Housing Finance’s LAP provides flexible options with competitive interest rates, allowing you to meet personal or business financial needs while retaining ownership of your property.

Niwas Housing Finance’s loan against property is available to salaried individuals, self-employed professionals, business owners, and companies. Applicants must own the property being pledged and have a stable income source to repay the loan. Niwas Housing Finance assesses eligibility based on your creditworthiness and the market value of the property.

With Niwas Housing Finance, it is not mandatory to have a co-applicant for a loan against property. However, including a co-applicant, such as a spouse, can enhance eligibility and may increase the loan amount. If the property has multiple owners, all owners need to be co-applicants for the loan.

Niwas Housing Finance accepts various types of properties as collateral for a loan against property, including residential properties self-occupied, commercial properties, and industrial properties. The property must have clear ownership, be legally compliant, and meet Niwas Housing Finance’s criteria for location and marketability.

Niwas Housing Finance’s loan against property can be used for various purposes, including business expansion, education, medical emergencies, debt consolidation, or personal expenses like weddings. This versatile loan solution allows you to access substantial funds based on your property’s value, with flexible end-use options.

Typically salaried applicants should have a monthly income of at least ₹10000 to qualify for a loan against property. For self-employed individuals and business owners, stable income and profitability are crucial.

To avail of Niwas Housing Finance’s loan against property, you need to provide identity proof (Aadhar, PAN), address proof (utility bills, rental agreement), income proof (salary slips, bank statements, ITR), and property documents (title deed, ownership proof). Additional documents may be requested based on your profile and Niwas Housing Finance’s policies.

The maximum repayment tenure is up to 15 years for a loan against property. This extended tenure reduces the EMI burden, making it easier for borrowers to manage repayments, while allowing them to utilize the funds for long-term financial needs.

Generally you don't require a guarantor for a loan against property since the property itself serves as collateral. However, in cases where the borrower’s income or credit profile doesn’t fully meet the criteria, a guarantor may be requested to secure the loan.