Loan Against Open Plot
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Loan Against Open Plot
Investors are traditionally inclined towards buying land either purely as an investment or for building a house. So, if you are looking to buy a plot, you may not be eligible for a home loan, but for a land loan. Home loans are available only for the property already constructed, under construction or likely to undergo construction soon. For funding the purchase of a vacant plot, you will have to go for a land loan instead.
Eligibility
- Sole Proprietorships.
- All proposed owners of the property will have to be co-applicants.
- However, all co-applicants need not be co-owners. Generally co-applicants are close family members.
Silent Features
- Loan for Purchase of a resale plot.
- Attractive interest rates to make your Plot Loan affordable.
- Customised repayment options that suit your needs.
- Expert legal and technical counselling.
Required Documents
Generally Required Financial Documents For Self Employed Category
- Following are the documents you would need to submit for all applicants / co-applicants along with the completed and signed Application Form for loan approval:
- Original documents pertaining to ownership of the land.
- ID proof: Copy of passport / PAN card / Voter id card / Driving license/ Ration card / Adhaar card.
- ‘No Encumbrance’ Certificate for the plot.
- Layouts / drawings of the plot, duly approved by the Town Planning Authority.
- Revenue receipts.
- Land records.
- Tax receipts for taxes paid by the landowner.
- Other documents
- Address proof: Copy of , passport/utility bill/voter id card / driving license/ ration card / adhaar card.
- Bank statement for the last 6 months.
- Income details.
Testimonials
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