Getting a loan against property without income proof or an ITR can be troublesome. Your property is only considered as a security cover for the borrowed loan amount, on the off chance that you fail to pay back. Your eligibility relies upon your repayment capacity, which is demonstrated by pay records that include salary slips, ITR, etc. Without these, obtaining a loan amount of your choice will be difficult on the grounds that your loan specialist would need you to see your most recent two years’ annual duty for deciding your financial soundness.
However, if you can lease your property to a Government organization or any top-notch company on a long lease probably for a period of 10 or more years, you will be qualified to get an advance against future lease at 60% of the lease of 10 years. In such cases, you needn't bother about any document related to income proof. Along with that you also have to complete a tripartite agreement including yourself, the tenant and the bank, whereby the lease would be consequently stored to the loaning bank, with the goal that they can change the EMI out of that.
In any case, as you are wanting to take a home loan against property, there are a few banks and other financial institutions that offer affordable home loan in India but have their very own set of an agreement while granting a loan to their clients. You can conduct proper research online, understanding the various requirements for such type of loans.
How do these banks and institutions process?
As the first step, they request the customers that they keep their identity proof handy and afterward complete a cautious evaluation of their reserve funds, liabilities and so forth. They also try and understand their family background, their point of view and end use of the loan. Based on these factors and a few more, a loan amount is sanctioned.

Author's Bio: 

An artist...