The allotment letter is given by the builder to the home buyer. Which is one of the important documents. Often the banks are also involved in housing finance only when the allotment letter of the house purchased by the customer is given to the bank by the builder.
On receiving that allotment letter, banks start the process of their housing loan.
The first step in buying a property is an allotment letter. It is a document which proves that the property is available for sale and the seller has the right to sell it. Without the allotment letter. the person will not be able to prove that they are the original owners of the property. Owner will not be able to obtain financing.
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