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The Government of India lays down several terms and conditions for procurement of land. Additionally, private and public sector banks are coming up with attractive loan plans for its customers for purchase of land, purchase or construction. Indiahousing compiles data regarding availability of Land Purchase Loan.
In order to get your house loan sanctioned, you must satisfy the following criteria:
Any individual aged 21 years or above having regular income.
Maximum Amount of Loans: The quantum of loan sanctioned, depends on the cost of house/flat, applicant's age, income, repayment capacity etc.
Margin for purchase or construction of new house/flat: involving project cost for individual, co-borrower etc.
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Interest on both fixed as well fluctuating rates, governed by prevailing market conditions at the time of taking loan.
Documents required for approval: businessman/ self employed professional, application form with photograph, educational qualification, identity and residence proof, business profile and last three years income tax return.
Some of banks providing land purchase loans are: HDFC Bank, ICICI Bank, Bank of India (loans to purchase a plot), Standard Chartered, IDBI Bank, State Bank of India (Unique House Scheme), and Union Bank of India, UCO Bank, Bank of Baroda, Citibank and Development Credit Bank. Hence, to go in for the ideal purchase, surf Indiahousing Land Purchase Loan.
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Land Purchase Loan
