Here Is All You Need To Know About Mortgage Property Loan In India

The real estate sector comprises of retail, hospitality, housing, and commercial properties; and each of these genres witnessed a strong growth over the last few years. Elevated prices are growing in tandem with demands for residential and commercial spaces. Inevitably, this calls for the requirement of financial coverage to acquire properties.

It is estimated that this sector will contribute to 13% of the country’s GDP by 2025. Since purchasing properties require a substantial investment, various leading financial institutions offer credits against mortgage property. These credits are available against minimum documentation and provide high-value credit amounts to both self-employed and salaried individuals.

Thus, in case you want to purchase a property, these loans come with attractive features as well as ample coverage.

Mortgage Property Loans in India

A credit taken against a property is a secured credit and requires certain additional pointers in its application process.

  1. What Type of Property can be used as a Mortgage?

To provide a borrower with a loan against property, lenders evaluate the value of the property first and sanction a loan amount accordingly. Here are some properties that can be considered for a mortgage –

  • Self-owned commercial property

  • Rented but self-owned commercial property

  • Self-owned but rented residential property

  • Self-owned residential property

  • Self-occupied and self-owned residential property

  • Self-owned piece of land

  • Registered properties with maps

  • Vacant land without any property built on it

Apart from the ones mentioned above, non-agricultural areas, under-construction sites, school & hospital properties, and industrial lands are also eligible for a LAP.

  1. What is the Mortgage Loan Process?

Thanks to reputed NBFCs like Bajaj Finserv, borrowers can now choose the best Loan Against Property with industry-first features and easy approval mortgage loan process in India.

Step 1: Look out for the required eligibility criteria

Step 2: Apply for the loan

Step 3: Assessment of the credit by the lending party

Step 4: Legal verification and property evaluation

Step 5: Loan sanction

Step 6: Disbursal of the loan amount

However, borrowers should know a few things about loan against a property before applying for one. These include an idea about the value of the property to be mortgaged, interest rates, benefits, and services offered by the lender, etc.

  1. What are the Eligibility Criteria for Loan Against Property?

Eligibility criteria vary between lenders. Leading NBFCs have an easy-to-meet set of such criteria including –

Eligibility Criteria for Self-employed Applicants:

  • He/she should be between 25 to 70 years of age.

  • The borrowers should be residing in either of the cities of Bhubaneswar, Jodhpur, Madurai, Lucknow, Nagpur, Ahmedabad, Amravati, Jaipur, Baroda, Raipur, Vijayawada, Surat, Salem, Vapi, Nasik, Jamnagar, Indore, or in any of the metropolitan cities.

  • He/She should be self-employed with a regular source of income.

Documents: Copy of the papers of the property to be mortgaged, ID proof (Aadhaar Card/PAN Card), bank account statements of the last 6 months, and address proof.

Eligibility Criteria for Salaried Applicants:

  • The borrower should either be a resident of India or owns a property in either of the cities of Mumbai, Pune, Kolkata, Delhi, Ahmedabad, Chennai, Hyderabad, or Bangalore.

  • She/he should be between 33 to 58 years of age.

  • She/he should be a salaried employee working in either a private or public company, or an MNC.

Documents: Latest salary slip, an ID proof (Aadhaar Card/PAN Card), bank account statement of the last 3 months, an address proof, IT return papers, and copy of the documents of the mortgaged land/property.

  1. What are the Benefits and Features of this Credit?

Reputed NBFCs offer multiple beneficial features in their credits against mortgage property. These include –

  • High credit amount up to Rs. 5 Crore.

  • Quick disbursal of the fund within 72 hours.

  • Flexible tenor ranging from 2 to 20 years.

  • Flexi Loan Facility to borrow and repay the loan as per convenience.

They also provide an industry-first feature of exclusive reports to help the customers with the financial, technical, and legal aspects of property ownership.

With such features of loans against property along with the no end-use restrictions, all you need is a complete idea about it to make the best of the funds and ease your repayment. Refer to only top lenders who offer the best loan features and benefits.

News Reporter

4 thoughts on “Here Is All You Need To Know About Mortgage Property Loan In India

  1. Hey, how’s it going?

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    In December of 2017, Donald Trump made history by recognizing Jerusalem as the capital of Israel. Why is this big news? Because by this the Jewish people of Israel are now able to press forward in bringing about the Third Temple prophesied in the Bible.

    Jewish Rabbis have publicly announced that their Messiah will be revealed in the coming years who will be a leader and spiritual guide to all nations, gathering all religions under the worship of one God.

    Biblical prophecy tells us that this Jewish Messiah who will take the stage will be the antichrist “who opposes and exalts himself above all that is called God or that is worshiped, so that he sits as God in the temple of God, showing himself that he is God” (2 Thessalonians 2:4). For a time he will bring about a false peace, but “Therefore when you see the ‘abomination of desolation,’ spoken of by Daniel the prophet, standing in the holy place (Matthew 24:15)…then there will be great tribulation, such as has not been since the beginning of the world until this time, no, nor ever shall be” (Matthew 24:21).

    More importantly, the power that runs the world wants to put a RFID microchip in our body making us total slaves to them. This chip matches perfectly with the Mark of the Beast in the Bible, more specifically in Revelation 13:16-18:

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    Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666.”

    Referring to the last days, this could only be speaking of a cashless society, which we have yet to see, but are heading towards. Otherwise, we could still buy or sell without the mark amongst others if physical money was still currency. This Mark couldn’t be spiritual because the word references two different physical locations. If it was spiritual it would just say in the forehead. RFID microchip implant technology will be the future of a one world cashless society containing digital currency. It will be implanted in the right-hand or the forehead, and we cannot buy or sell without it. Revelation 13:11-18 tells us that a false prophet will arise on the world scene doing miracles before men, deceiving them to receive this Mark. Do not be deceived! We must grow strong in Jesus. AT ALL COSTS, DO NOT TAKE IT!

    “Then a third angel followed them, saying with a loud voice, “If anyone worships the beast and his image, and receives his mark on his forehead or on his hand, he himself shall also drink of the wine of the wrath of God, which is poured out full strength into the cup of His indignation. He shall be tormented with fire and brimstone in the presence of the holy angels and in the presence of the Lamb. And the smoke of their torment ascends forever and ever; and they have no rest day or night, who worship the beast and his image, and whoever receives the mark of his name” (Revelation 14:9-11).

    People have been saying the end is coming for many years, but we needed two key things. One, the Third Temple, and two, the technology for a cashless society to fulfill the prophecy of the Mark of the Beast.

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    If you haven’t already, it is time to seek God with all your heart. Jesus loves you more than you could imagine. He wants to have a relationship with you and redeem you from your sins. Turn to Him and repent while there is still hope! This is forever…God bless!


    We all know God exists. Why? Because without Him, we couldn’t prove anything at all. Do we live our lives as if we cannot know anything? No. So why is God necessary? In order to know anything for certain, you would have to know everything, or have revelation from somebody who does. Who is capable of knowing everything? God. So to know anything, you would have to be God, or know God.

    A worldview without God cannot account for the uniformity and intelligibility of nature. And why is it that we can even reason that God is the best explanation for this if there is no God? We are given reason to know or reject God, but never to know that He does not exist.

    It has been calculated by Roger Penrose that the odds of the initial conditions for the big bang to produce the universe that we see to be a number so big, that we could put a zero on every particle in the universe, and even that would not be enough to use every zero. What are the odds that God created the universe? Odds are no such thing. Who of you would gamble your life on one coin flip?

    Is there evidence that the Bible is the truth? Yes. Did you know that the creation accounts listed in the book of Genesis are not only all correct, but are also in the correct chronological order? That the Bible doesn’t say the Earth was formed in six 24-hour days but rather six long but finite periods of time? That the Bible makes 10 times more creation claims than all major “holy” books combined with no contradictions, while these other books have errors in them? The Bible stood alone by concurring with the big bang saying, “In the beginning God created the heaven and the earth” (Genesis 1:1); and says our universe is expanding, thousands of years before scientists discovered these things. Watch a potential life-changing video on the front page of http://WWW.BIBLEFREEDOM.COM with Astronomer(PhD) Hugh Ross explaining all these facts based on published scientific data. He has authored many books, backed even by atheist scientists.

    Jesus came to pay a debt that we could not; to be our legal justifier to reconcile us back to a Holy God; only if we are willing to receive Him: “For the wages of sin is death…” (Romans 6:23).

    God so loved the world that He gave us His only begotten son, so that whoever believes in Him, through faith, shall not perish, but have everlasting life. Jesus says if we wish to enter into life to keep the commands! The two greatest commands are to love God with all your heart, soul, strength, and mind; and your neighbor as yourself. All the law hang on these commands. We must be born of and lead by the Holy Spirit, to be called children of God, to inherit the kingdom. If we are willing to humble ourselves in prayer to Jesus, to confess and forsake our sins, He is willing to give the Holy Spirit to those who keep asking of Him; giving us a new heart, leading us into all truth!

    Jesus came to free us from the bondage of sin. The everlasting fire was prepared for the devil and his angels due to disobedience to God’s law. If we do the same, what makes us any different than the devil? Jesus says unless we repent, we shall perish. For sin is the transgression of the law. We must walk in the Spirit so we may not fulfill the lusts of the flesh, being hatred, fornication, drunkenness and the like. Whoever practices such things will not inherit the kingdom (Galatians 5:16-26). If we sin, we may come before Jesus to ask for forgiveness (1 John 2:1-2). Evil thoughts are not sins, but rather temptations. It is not until these thoughts conceive and give birth by our own desires that they become sin (James 1:12-15). When we sin, we become in the likeness of the devil’s image, for he who sins is of the devil (1 John 3:8); but if we obey Jesus, in the image of God. For without holiness, we shall not see the Lord (Hebrews 12:14).

    The oldest religion in the world is holiness through faith (James 1:27). What religion did Adam and Eve follow before the fall? Jesus, Who became the last Adam, what religion does He follow? Is He not holy? He never told us to follow the rituals and traditions of man but to take up our cross and follow Him (Luke 9:23). There are many false doctrines being taught leading people astray. This is why we need the Holy Spirit for discernment. Unlike religion, holiness cannot be created. It is given to us from above by the baptism of the Spirit. Jesus is more than a religion; He is about having a personal relationship with the Father. Start by reading the Gospel of Matthew, to hear the words of God, to know His character and commandments. Follow and obey Jesus, for He is the way, the truth, and the life!

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