A comprehensive financing solution for buying land and constructing your home, all under one loan
Plot Purchase & House Construction Loan is a comprehensive financial solution that covers both the cost of purchasing a plot and constructing a house on it. This single loan solution simplifies your home building journey by eliminating the need for multiple loans. Enjoy competitive interest rates, flexible repayment options, and expert guidance throughout the process.
Finance the purchase of your desired plot in prime locations with up to 80% of the land value covered.
Fund the construction of your dream home with stage-wise disbursements aligned with construction progress.
Simplified documentation, single application process, and unified EMI payments for both land and construction.
Understanding the process from application to move-in
Apply for the combined loan after identifying your plot. Get approval based on your eligibility and property assessment.
Initial disbursement to finance your plot purchase after completing legal verification and documentation.
Submit approved building plans, estimates, and construction timeline to initiate the construction phase.
Receive phased disbursements based on construction progress, verified by bank representatives at each stage.
Begin regular EMI payments after final disbursement, typically after construction completion and occupancy.
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Know if you qualify and what documents you'll need
Housing loan eligibility is primarily dependent on the income and repayment capacity of the individual(s). There are other factors that determine the eligibility of home loans such as:
Get answers to common questions about home construction loans
Most lenders offer a maximum tenure of 20-30 years for Plot Purchase & Construction Loans, depending on the applicant's age and repayment capacity. The longer tenure helps reduce the EMI burden.
Typically, the loan is disbursed in stages - first for the plot purchase (up to 70-80% of the plot value) and then in installments for construction based on progress. Each construction disbursement requires verification of work completed.
Most lenders require construction to begin within 6-12 months of plot purchase. If construction doesn't start within the stipulated time, the bank may convert the loan to a plain plot loan with higher interest rates or may ask for partial repayment.
Yes, pure plot purchase loans are available but they typically have higher interest rates, lower loan-to-value ratios (50-60%), and shorter tenures compared to plot purchase & construction loans.
Most lenders require construction to begin within 6-12 months of plot purchase. If construction doesn't start within the stipulated time, the bank may convert the loan to a plain plot loan with higher interest rates or may ask for partial repayment.
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