When buying L&T Raintree Boulevard, it is essential to familiarize yourself with the necessary property documents involved in the process. Many first-time homebuyers are often unaware of the paperwork required for closing the deal. Thoroughly reviewing and collecting the documents is a crucial step in successfully buying a new home. This comprehensive property documents checklist will guide you through the necessary paperwork:

For Resident Indians:

PAN Card: Your Permanent Account Number (PAN) is required for all property transactions. Make sure you have a copy of your PAN card along with another valid ID proof such as a driver’s license, passport, or voter ID.

Residence Proof Document: You need to provide a valid and acceptable address proof document. Commonly accepted proofs include a passport, voter ID, utility bills, driving license, or Aadhar card.

Bank Account Statement: Lenders will typically ask for your bank account statements from the past six months to assess your eligibility for a home loan. Make sure to have these statements readily available.

Employment Documents: The following documents are required for salaried employees:

Letter of Employment: Some lenders may require a letter from your employer, including your date of joining, current designation, employment status, and income details.

Monthly Salary Slips: Provide the latest three months’ salary slips to demonstrate your income stability.

Form 16: Include your Form 16, which certifies the deduction of income tax from your salary and assures the lender of your income continuity.

Other Relevant Documents: Keep copies of your employee ID, company’s offer letter, relieving letter from previous employers, and experience letter.

For Self-employed Individuals:

Proof of Business Existence: Finance companies may require proof of your company’s existence, such as a valid business license or registration issued by a government authority.

Audited Profit and Loss Sheet: Provide audited profit and loss statements to demonstrate your business’s profitability and income generation.

Balance Sheet: Include a balance sheet that represents your company’s financial position, including liabilities, assets, and net worth.

Income Tax Returns: Ensure you have filed your income tax returns diligently, as lenders often require records from the past two years or more to verify your income.

Loan Details: Provide information about any existing loans or debts, as lenders consider your current loan status when assessing your home loan application.

In summary, checking the necessary property documents before buying a home is crucial. If you are looking to buy or invest in a home, L&T Finance offers detailed guides on securing a home loan and investing in real estate for both Indian residents and NRIs.

L&T Realty specializes in luxury, sustainable living with an emphasis on comfort. Check out one of our recent projects, Sun & Sanctum, located in a rapidly-developing area in the northeastern part of Bangalore. These carbon-healing homes provide the perfect balance between urban life and natural serenity, allowing you to minimize your carbon footprint while enjoying modern amenities.

Take advantage of the expertise and offerings provided by L&T Realty to make your home-buying journey a seamless and rewarding experience.