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National Toll Free No1800 425 00 000

Plot Loan

Plot Loan

Purpose / Objective For purchase of House Site on ownership basis; House site should be located in layout which is approved by Competent Authority
Eligibility Minimum entry age is 18 years and maximum exit age is 60 years
Amount of Loan *30 times of Gross Monthly Income;
The cap on Plot Loan per borrower has been fixed as under:
*For purchase of property in Rural area : Rs. 50.00 lakhs
*For purchase of property in Semi-urban area : Rs. 100.00 lakhs
*For purchase of property in Urban area : Rs. 200.00 lakhs
*For purchase of property in Metro : Rs. 300.00 lakhs.
Margin 25% on Land cost
Processing fee 1.173% on loan amount
Interest Rates Please see the Lending Rates link on home page *Construction of house has to commence within 2 years from the date of availing the loan / from the date of handing over possession by the Government Housing Development Agency, as the case may be, otherwise higher Rate of Interest will be charged for the delayed period.
Repayment Maximum 180 EMIs (No Holiday Period)
Prepayment charges NIL
Security * Equitable Mortgage of Property purchased out of loan proceeds. * Equitable Mortgage to be registered (at Applicant’s cost) if there is a provision for the same in the State where property is located.
CERSAI registration (at Applicant’s cost) to be done
(i) For Loans up to Rs 5 Lakhs – Rs 50 + ST
(II) For Loans above Rs 5 Lakhs – Rs 100 + ST
Documents to be submitted for processing the application As detailed in our Home Loan product. All the applicable/relevant documentary evidences are to be submitted