Loan Against Property (LAP) — Explained
A Loan Against Property (LAP), also known as a Mortgage Loan, allows you to leverage your owned residential or commercial property to raise funds for any purpose — business expansion, debt consolidation, education, medical expenses, or working capital.
Because the loan is secured by your property, interest rates are significantly lower than unsecured business loans or personal loans. At Indi Fin Serv, we help property owners in Pune and Mumbai get the maximum loan amount at the best possible rate.
Types of Properties Accepted
- Residential properties (flat, bungalow, row house, plot)
- Commercial properties (office, shop, showroom, warehouse)
- Industrial properties (factory, shed, MIDC plot)
- Mixed-use properties (partly residential, partly commercial)
- Under-construction properties (select lenders)
⏱ Maximum Turnaround Time
10 – 20 Working DaysSubject to property valuation and legal verificationDocuments Required
The following documents are typically required. Our team will prepare a personalised checklist for your specific case.
KYC — Aadhaar + PAN of all applicants
Property Title Documents — Sale Deed, Index II, 7/12 Extract
Property Tax Receipts (last 3 years)
Approved Building Plan & Occupancy Certificate (OC)
Last 3 Years ITR with Balance Sheet & P&L (business owners)
Last 12 Months Bank Statements (all accounts)
GST Returns (last 12 months) for business owners
Encumbrance Certificate (no dues on property)
Existing loan sanction letters (if any mortgages on property)
Rental Agreement (if property is rented out)
Eligibility Criteria
- Individuals, Proprietors, Partners, Directors who own property
- Property must be free from legal disputes and clear title
- Minimum property value: ₹30 Lakhs (varies by lender)
- Business / rental income to demonstrate repayment capacity
- CIBIL score of 680+ (lower scores considered case-by-case)
- Age: 25 to 70 years at loan maturity
Why Choose Indi Fin Serv?
- We get independent valuation to ensure maximum LTV for your property
- Our legal team pre-checks title documents to avoid rejection
- Expert at unlocking value from complex / commercial properties
- Can arrange simultaneous Top-Up on existing mortgages
- Faster legal / technical verification through our bank network
- We've facilitated ₹200 Cr+ in LAP disbursals across Maharashtra