Loan against property What kind of property is considered for Loan against Property? Any registered property with the proper sanctions from the appropriate town planning authority is considered suitable for LAP. General Power of Attorney (GPA) holders of a property cannot apply for LAP, because a power of attorney is not the same as legal ownership. Therefore, lenders do not give loans to GPA holders. Similarly, most lenders do not grant LAP for agricultural lands because these lands are solely meant for agricultural purposes. Here’s a list of properties for which LAP is usually granted home loan flat loan , mortgage loan housing loan, loan against property , building construction loan , mortgage loan process