In the real estate market, it might be difficult to obtain a house loan for an unregistered flat. In order to minimise risks, financial institutions often ask for proper documents, including property registration. Due to potential legal gaps, lenders may be hesitant to grant loans for an unregistered residence. The loan amount may be impacted by non-registration, which may also hinder property value. In order to ensure legal compliance and accelerate the loan approval procedure, potential buyers should give priority to registering their place of residence. Selecting houses with registration promotes more seamless transactions and increases the possibility of getting a house loan, providing a safe route for people interacting with the real estate market.
Read More: Real estate: Can you get a home loan on an unregistered flat?
