LAPMortgage

Loan Against Property in Chennai

Loan Against Property in Chennai

What is Loan Against Property?

Loan Against Property in Chennai. Do you own a residential, commercial or Industrial property, if Yes, then Loan Against your Property is best suited to fulfill your business or personal needs. This type of loan can be availed by salaried and self-employed individuals. Loan Against Property can be used for Business Expansion, Working Capital, Personal Expenses etc…

“Our favorite holding period is forever”. Warren Buffett

Advantages of LAP (Loan Against Property)

LAP mostly used for the below purposes from businesses:

For Business Expansion For Business Expansion

As an Alternative to Working Capital Loans As an Alternative to Working Capital Loans

 Leverage an unutilized assets to expand and growth business Leverage an unutilized assets to expand and growth business

LAP offers longer tenures of repayment leading to better repayment schedule LAP offers longer tenures of repayment leading to better repayment schedule

interest rates Very competitive interest rates

Great way to consolidate the debt Great way to consolidate the debt

FAQ’s on Loan Against Property

Loan against property is collateral back borrowing. The loan amount, eligibility and interest rates are directly related to type of property offered as collateral along with borrower's financial ability on repayment.
Borrower gets around 60% to 90% of the value of the property as loan, provided his repayment capacity aligns with the limit one is seeking to avail the loan.
Loan against Property on Residential and Commercial Lease Rent Discounting Balance Transfer cum Top Up Existing Customer Top Up
LAP Repayment can be availed for upto 15 years.
It usually takes around 10-30 days to get the Loan Against Property based on availability of the documents with client.
Identity Proof and PAN Card, mandatory. Residential Address proof in the form of an Aadhaar card, passport, voter ID card, registered rent agreement, landline bill, driving license, bank statement or passbook. You may also need to provide utility bills of the last 3 months. Registered Sale Deed, or Lease Deed, or Conveyance. Past sale deeds chain comprising each of the transactions related to the property since it was allotted for the first time. Latest utility bill. Latest House tax return or receipt. Form 16 of the last 3 years, salary slip for the previous 6 months, last 6 months bank account statement representing salary credited to the account.
Application form with photo. Identity Proof and PAN Card, mandatory. Residential Address proof in the form of an Aadhaar card, passport, voter ID card, registered rent agreement, landline bill, driving license, bank statement or passbook. You may also need to provide utility bills of the last 3 months. Office address proof, such as ownership, or lease, or rent agreement, or a utility bill. Registered Sale Deed, or Lease Deed, or Conveyance. Past sale deeds chain comprising each of the transactions related to the property since it was allotted for the first time. Latest utility bill. Latest House tax return or receipt. Business profile Certificate and proof towards the existence of business Income Tax returns of the last 3 years for self and business, balance sheets audited or certified by a Chartered Accountant, profit and loss account, bank account statement for self and business for last 12 months.

Eligibility Criteria

Your eligibility depends upon your repayment capacity as determined by Banks and NBFCs. Things like your income, age, qualifications, number of dependants, spouse’s income, assets, liabilities, savings history, stability, property value and continuity of occupation are considered while computing your eligibility.

To access the initial eligibility below documents are required:

Property documents Property documents

Latest Bank Statement showing income for the past 12 months Latest Bank Statement showing income for the past 12 months

Last three years Audited Financials Last three years Audited Financials

If you have the above documents ready and seeking a Loan Against Property to fulfill any of your business or personal goals do contact us , we would be happy to help you: Apply for Loan Against Property in Chennai.

APPLY
EMI CALCULATOR
Loan Against Property in Chennai Locations we serve:
Agaram
Aminjikarai
Anna Nagar East
Anna Nagar
Anna Nagar Western Extn
Anna Road
Arumbakkam
Ashoknagar
Aynavaram
Besantnagar
Chennai G.P.O.
Chepauk
Chetput
Chintadripet
Choolaimedu
D G Vaishnav College
Edapalayam
Egmore ND
Egmore
Ekkaduthangal
Engineering College
Erukkancheri
Ethiraj Salai
Flower Bazaar
Flowers Road
Fort St George
G K M Colony
Gopalapuram
Govt Stanley Hospital
Greams Road
Guindy Industrial Estate
Guindy North
High Court Building
Hindi Prachar Sabha
Icf Colony
Indian Institute Of Technology
Jafferkhanpet
Jawahar Nagar
Kalaignar Karunanidhi Nagar
Kasturibai Nagar
Kilpauk Medical College
Kilpauk
Kodambakkam
Kodungaiyur
Kotturpuram
Koyambedu
Koyambedu Wholesale Market Com
Kumaran Nagar
Lloyds Estate
Loyola College
Madras Electricity System
Madras Medical College
Madras University
Mambalam R.S.
Mandaveli
Mannady
Medavakkam Tank Road
Mint Building
MPT AO
Mylapore
Nandanam
Nungambakkam High Road
Nungambakkam
Old College Buildings
Park Town
Perambur Barracks
Perambur North
Perambur
Pr. Accountant General
Puliyanthope
Raja Annamalaipuram
Rajaji Bhavan
Rajbhavan
Ramakrishna Nagar
Rayapuram
Ripon Buildings
Royapettah
Rv Nagar
Saidapet
Saligramam
Sembiam
Shastri Bhavan
Shastri Nagar
Shenoy Nagar
Sowcarpet
Teynampet
Teynampet West
Thygarayanagar
Thygarayanagar North ND
Thygarayanagar South ND
Tidel Park
Tiruvallikkeni
Tiruvanmiyur
Tondiarpet Bazaar
Tondiarpet
Tondiarpet West
Triplicane South
TTTI Taramani
Vadapalani
Valmiki Nagar
Velacheri
Venkatesapuram
Vepery
Virugambakkam
Vivekananda College Madras
Vyasar Nagar Colony
Vyasarpadi
Washermanpet East
Washermanpet
West Mambalam
World University Centre