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Why Take Unapproved Colony/ Unapproved Area Home Loan From Us?

  • 20 years of experience in Home Loan.
  • Regularized Area Home Loan up to Rs. 1 crore.
  • Lowest ROI & processing fees.
  • 20% higher loan amount than other service provider.
  • Regularized Area Home Loan up to 85% of cost of property.
  • “NO INCOME PROOF” home loan in Regularized Area.
  • Regularized Area Home Loan to “LOW CIBIL SCORE” or “NO CIBIL SCORE”.
  • Regularized Area Home Loan based on past loans repayment track records.
  • Regularized Area Home Loan to all kinds of profile. There is “NO NEGATIVE PROFILE”.
  • Minimum Documentations.
  • Fastest loan approval guaranteed
  • No Hidden Charges.
  • Amicable after sales service.

Do you want to know more about Unapproved Colony /Unapproved Area Home Loan?

Most of the bank or NBFC doesn’t provide home loan in unapproved colony or area, because unapproved colony or area facing problems like illegal construction, gross commercialization, bad infrastructure, etc.

But unapproved colony or areas are integral part of Delhi and NCR. These unapproved colony or areas are well connected with urban city of Delhi & NCR through, roads, expressways and metros etc. Due to better connectivity, job opportunity in urban areas and comparatively low property price, large number of people are leaving in these areas. Due to high demand of property, there is a huge construction taken place in unapproved colony or area. These all resulted in huge demand for home loan in unapproved colony or area.

To fulfill rising demand of housing loan in unapproved colony or area, few bank or NBFC provides home loan in unapproved colony or area on certain special conditions.

If you need a professional guidance then contact LOAN ON PHONE. We are always with you.

You can borrow home loan Unapproved Colony /Unapproved Area, from bank or NBFC on following types of property:-

  • LOAN ON INDEPENDENT HOUSE OF UNAPPROVED AREA: You can borrow home loan on independent house of unapproved area from bank or NBFC.
  • LOAN ON FLAT OR FLOOR OF UNAPPROVED AREA: You can borrow home loan from bank or NBFC in unapproved area on a single flat or floor up to 3rd floor. The flat can be situated on a single unit, double unit or multiple units.
  • PLOT PLUS CONSTRUCTION LOAN IN UNAPPROVED AREA: When you borrowed loan from bank or NBFC to construct a home after buying plot in unapproved area, then bank or NBFC provides you plot plus construction loan.

    Construction loan will be disbursed once plot loan is disbursed and all the property papers related to plot is in the record of bank or NBFC. Construction loan provided by bank or NBFC on the basis of construction estimate duly vetted by bank or NBFC empanelled architect. Construction loan is disbursed as per the stage of construction being recommended by empanelled valuer of the bank.

    Only plot loan is not offered by bank or NBFC in unapproved area.

Regularized Area Home Loan is an agreement between borrower and the lender (bank or NBFC) that regulates the term of loan. Loan eligibility criteria for almost all the banks are different but there are some common loan eligibility criteria which borrower has to fulfill to avail home loan from bank or NBFC.

Following are some key important factors which would be checked by bank or NBFC to accept or reject the home loan application:-

  • Age: At the time of home loan application, applicant must be 21 years or above but not more than 60 or 65 years because repayment of the loan has to be completed on or before 60 or 65 years of borrower age. .
  • Employment Continuity: Bank or NBFC checks employment continuity of an individual who is applying for home loan. An individual should have 3 years of working experience in the business or employment. A regular source of income, ensure the lender regular repayment of their housing loan EMI.
  • Cibil Score: A home loan borrower who is having good cibil score will get quick loan from the bank or NBFC. Cibil score is a decisioning factor for sanctioning or rejecting home loan applications

What are the documents required for Home Loan on Unapproved Colony /Unapproved Area?

Documents required for Home Loan on Unapproved Colony depends upon the type of employment of an individual.
Documents required for different types of employment are as follows:

KYC Documents

  • Pan Card
  • Aadhar Card
  • Voter ID Card
  • Passport
  • Latest Month Electricity Bill
  • Copy of Rent Agreement
  • Copy of Registered Lease Deed
  • Employee ID Card

Income Documents

  • Latest 3 months salary slip
  • 3 years form-16, 26AS, ITR with computation of Income
  • Annual CTC Letter
  • Copy of Appointment Letter

Bank Statements

  • One year up to date salary account statement

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Month up to date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed

Property Documents

  • Copy of Agreement to Sale (ATS)
  • Copy of previous chain of property papers
  • Copy of approved sanction plan or Map

KYC Documents

  • Pan Card
  • Aadhar Card
  • Voter ID Card
  • Passport
  • Latest Month Electricity Bill
  • Copy of VAT/ Sales Tax, GST, Import-Export or any other registration Certificate
  • Latest Office Address proof i.e electricity bill, rent agreement etc.
  • Company Profile on the Letterhead of the firm

Income Documents

  • Latest 3 year ITR with computation of Income including P & L a/c, balancesheet with their schedule and annexures duly certified by CA
  • Form No. 3 CA & 3 CD in case of audited balance sheet
  • Latest 2 years VAT/ Sales Tax/ GST return
  • Latest 2 year form 26AS if applicable

Bank Statements

  • One year up to date all the saving and current account statement

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Month up to date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed

Property Documents

  • Copy of Agreement to Sale (ATS)
  • Copy of previous chain of property papers
  • Copy of approved sanction plan or Map
Individual Partners Document

KYC Documents

  • Pan Card
  • Aadhar Card
  • Voter ID Card
  • Passport
  • Latest Month Electricity Bill
  • Copy of Rent Agreement/ Registered Lease Deed

Income Documents

  • Latest 3 year ITR with computation of Income
  • Latest 2 year form-16 with 26AS if applicable

Bank Statements

  • One year up to date all the saving account statements

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Month up to date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed

Property Documents

  • Copy of Agreement to Sale(ATS)
  • Copy of previous chain of property papers.
  • Copy of approved sanction plan or Map
Partnership Firm Documents

KYC Documents

  • Pan Card
  • Copy of VAT/ Sales Tax, GST, Import-Export Certificate or any other registration certificate
  • Copy of Partnership Deed
  • Latest office address proof i.e. electricity bill, rent agreement etc.
  • Company Profile on the Letterhead of the Company

Income Documents

  • Latest 3 year ITR with computation of Income including P & L a/c, balancesheet with their schedule and annexures duly certified by CA
  • Form No. 3 CA & 3 CD in case of audited balance sheet
  • Latest 2 years VAT/ Sales Tax/ GST return
  • Latest 2 year form 26AS if applicable

Bank Statements

  • One year up to date all the current account statement

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Months up to date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed
Individual Directors Document

KYC Documents

  • Pan Card
  • Aadhar Card
  • Voter ID Card
  • Passport
  • Latest Month Electricity Bill
  • Copy of Rent Agreement/ Registered Lease Deed

Income Documents

  • Latest 3 year ITR with computation of Income
  • Latest 2 year form-16 with 26AS if applicable

Bank Statements

  • One year up to date all the saving account statements

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Months up to date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed

Property Documents

  • Copy of Agreement to sale (ATS)
  • Copy of previous chain of property papers.
  • Copy of approved sanction plan or Map
Private Limited or Limited Company Documents

KYC Documents

  • Pan Card
  • MOA & AOA
  • Copy of VAT/ Sales Tax, GST, Import-Export Certificate or any other registration certificate
  • Latest office address proof i.e. electricity bill, rent agreement etc.
  • Company Profile on the Letterhead of the Company
  • List of director & shareholder with their shareholding pattern duly certified by CA.
  • Latest form-32

Income Documents

  • Latest 3 year ITR with computation of Income including P & L a/c, balancesheet with their schedule and annexures duly certified by CA
  • Form No. 3 CA & 3 CD in case of audited balance sheet
  • Latest 2 years VAT/ Sales Tax/ GST return
  • Latest 2 year form 26AS if applicable

Bank Statements

  • One year up to date all the current account statement

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Months up to date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed

KYC Documents

  • Pan Card
  • Copy of Passport with VISA
  • Copy of Green Card
  • Complete CDS certificate in case of Merchant Navy
  • Copy of valid residence proof in abroad
  • Employee ID card or Labour card
  • Copy of latest work permit

Income Documents

  • Latest 3 months salary slip
  • Latest 3 years income tax acknowledgement form
  • Annual CTC letter
  • Copy of appointment letter
  • Credit report from credit agency

Bank Statements

  • One year Upto date NRI Salary account statement
  • One year Upto date NRO/NRE account statement

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Months up to date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed

Power of Attorney Holders Documents

  • Copy of PAN card & Aadhar card
  • Power of Attorney in favour of blood relatives or relatives in India

Property Documents

  • Copy of Agreement to Sale (ATS)
  • Copy of previous chain of Property papers
  • Copy of approved sanction plan or Map

What is the Rate of Interest of Home Loan on Unapproved Colony /Unapproved Area?

Unapproved area property home loan rate of interest vary from bank to bank. It is slightly higher than standard home loan. Rate of interest is in between 10.00% p.a. to 15% p.a. it is advisable to compare unapproved area property home loan interest rates of different bank and financial institutions and chose the best one which suits your need.

OR

You may take an expert advice of LOAN ON PHONE professional consultants who will help you to choose best bank who offers you lowest rate of interest on home loan with nominal bank processing fees.

LIST OF UNAPPROVED AREA WHERE HOME LOAN OFFERED BY THE BANK OR NBFC

List of unapproved area area is very vast and many times bank or NBFC funding a particular block in an area but not others.

So, to check whether unapproved area, where you are buying property is approved or not, fill below form or call us on our mobile no. We are always available with you and happy to help you