The property must have a clean and legally valid title.
The property must be located in Delhi and supported by a valid Registered Sale Deed / Conveyance Deed (Pakki Registry).
The applicant must be a member of Lorem Ipsum.
Loan sanction is subject to the applicant's repayment capacity, CIBIL score and satisfactory verification reports.
Maximum loan amount shall be up to ₹10,00,000/- subject to eligibility and approval.
Required Documents
Personal Documents
Aadhaar Card (Self-Attested Copy) — Must
PAN Card (Self-Attested Copy) — Must
Four (04) Recent Passport Size Photographs
Latest Electricity Bill or Water Bill of Residence — Must
Income Proof — Mandatory
Guarantor Documents
2 Guarantors Mandatory
Each Guarantor shall submit:
Aadhaar Card
PAN Card
Latest Electricity Bill / Water Bill
Two Passport Size Photographs
Income Proof, if required by the Society
Property Documents
Original Registered Property Documents (Pakki Registry)
Complete Chain of Property Documents, if applicable
Latest Property Tax Receipt, if available
Any other documents as required by the Society
Mandatory Verifications
The following verifications are compulsory before loan sanction and disbursement:
Applicant's Residence Verification
Physical Verification of the Property offered as security
Two Guarantors Verification
Income Verification of the Applicant
CIBIL Score and Credit History Verification
Property Documents Verification
Legal Verification of the Property
Bank Account Verification
Office / Business Address Verification, wherever applicable
Interest Rate
15% p.a.
As per applicable society policy
Loan Tenure
Up to 100 Months
Subject to loan approval and applicable rules
Terms & Conditions
House Property Loan of up to ₹10,00,000/- shall be available only against Delhi Registered Residential Properties (Pakki Registry).
Submission of all required documents shall not guarantee loan approval. Loan sanction shall be subject to the Society's internal credit policy and approval by the competent authority.
Two Guarantors are mandatory for House Property Loans.
Income Proof and satisfactory repayment capacity are mandatory for loan eligibility.
CIBIL Score and Credit History of the applicant shall be verified before loan sanction. The Society reserves the right to reject any loan application based on adverse credit history or unsatisfactory repayment capacity.
Physical verification of the applicant's residence and the property offered for loan is mandatory.
The Society reserves the right to conduct legal, technical and field verification of all documents and information furnished by the applicant and guarantors at any stage of the loan process.
Original Property Documents shall remain deposited with the Society until full repayment and closure of the loan account.
In case any document or information furnished by the applicant or guarantors is found to be false, misleading, incomplete or forged, the Society shall have the absolute right to reject or cancel the loan application and initiate appropriate legal proceedings.
The borrower shall ensure timely repayment of all EMIs/installments. In case of default, the Society shall be entitled to initiate recovery proceedings and take legal action in accordance with its Bye-Laws and applicable laws.
The Management Committee reserves the right to amend, modify or withdraw any of the above terms and conditions without prior notice.
1% of the loan amount will be deducted for the Kalyan Fund and 1% for the Building Fund.
If a member takes a loan and wishes to close it within the same month, the full interest for that month will be charged.
If the installment is not deposited by the 10th, an additional interest of 3% will be charged after the 10th.