A manual patta property is a type of property that is registered in the government records, but it does not have a title deed or a 7/12 extract. These properties are typically found in rural areas of India. Here's what you need to know about availing a loan for a manual patta property:

Eligibility:

• The property must be registered in the government records (patta or pahani records).
• The property must be free from any encumbrances, disputes, or litigation.
• Borrower must have a good credit history.

• Loan amount will depend on the market value of the property, the borrower's creditworthiness, and the lender's internal policies.
• Typically, lenders offer up to 70-80% of the property's market value as a loan.

• Government Banks: SBI, PNB, BOB, and other government banks offer loan schemes for manual patta properties.
• Private Banks: ICICI, HDFC, Kotak, and other private banks also offer loan schemes for manual patta properties.
• Housing Finance Companies: HFCs like LIC HFC, Gruh Finance, and others offer loan schemes for manual patta properties.
• Non-Banking Financial Companies (NBFCs): NBFCs like Bajaj Finance, Reliance Capital, and others offer loan schemes for manual patta properties.

• Identity Proof: Passport, driving license, or voter ID.
• Residence Proof: Ration card, electricity bill, or rent agreement.
• Patta/Pahani Record: Copy of patta/pahani record.
• Property Valuation Report: Report from a registered valuer.
• Income Proof: Salary slip, Form 16, or ITR.
• Age Proof: Birth certificate or Pan card.

• Fixed Rate Loans: 8.5% - 9.5% per annum.
• Variable Rate Loans: 7.5% - 10% per annum.
• Floating Rate Loans: 8.5% - 10% per annum (interest rates can change periodically).

• Loan tenor: 5 to 20 years.
• EMI: Equated monthly installment (EMI) depends on the loan amount, interest rate, and repayment term.
• Prepayment Penalty: Some lenders may charge a penalty for prepaying the loan before the scheduled repayment term.

• Manual Patta Property Valuation: Valuation of manual patta properties can be challenging, and lenders may charge a premium for this service.
• Property Registration: The property must be registered in the government records to secure the loan.
• Encumbrance Certificate: Ensure that the property has an encumbrance certificate to prove its clarity.