Nationalized Bank do not recognize B Khata Properties as a legitimate property to provide Loan for construction/buying property.
However, many NBFC (Non Banking Financial Corporations) have simpler Rules & Regulations when it comes to B Khata Loans. Hence you can get a Loan from NBFC’s like LIC Housing Finance, CAN Fin Homes, HDIL etc.
Please note that the interest rates are a little higher as compared to a normal housing loan (1–2 % per annum) in these cases. You need the following documents from your side for easy processing. संगीत
- Sale and Mother Deed of the property
- EC (Encumbrance Certificate) showing all due and property taxes paid
- IT returns Proof/Form 16 for the last 2 Financial Years.
Please note that these 3 Docs do not guarantee a loan disbursal as many other factors (such as your previous Loans, any defaulting, Annual Income, Employment Status) etc. also play major roles in the loan provision.