Turn Your Dream Plot Into Reality
A Plot Finance Loan helps you purchase a residential plot of land, giving you the flexibility to build your dream home in the future. Unlike a home loan (which is for ready or under-construction properties), a plot loan is specifically designed for buying land in approved layouts or plots offered by development authorities, housing boards, or private builders.
Features of Plot Finance Loan
- Loan available for purchasing residential plots from government authorities or approved developers
- High loan-to-value (LTV) ratio depending on eligibility
- Flexible repayment options with tenures up to 15 years
- Balance transfer and top-up options available
- Attractive interest rates from multiple lenders
Loan Top-Up Eligibility
- Salaried or self-employed individuals with a stable income
- Age between 21–65 years (varies by lender)
- Good credit score and repayment history
- Proof of income, employment, and property documents required
Documents required to apply for Loan Top up
- Identity Proof (PAN Card, Aadhaar, Passport, Voter ID)
- Address Proof (Utility Bill, Passport, Driving License)
- Income Proof (Salary Slips, ITR, Bank Statements)
- Property-related documents (Allotment letter, Agreement to Sale, Title deeds, NOC, etc.)
Fees and Charges for Loan top up
- Processing fee: 0.5%–1% of loan amount (varies by bank/NBFC)
- Prepayment/foreclosure charges (as per lender’s terms)
- Legal & valuation charges (if applicable)
Faq's for Loan Top up
Can I take a loan for agricultural land?
No, plot finance loans are generally available only for residential plots approved by local authorities.
Can I get a loan for plot purchase and construction together?
Yes, some lenders offer a composite loan covering both plot purchase and construction.
What is the maximum loan amount I can get?
It depends on your income, repayment capacity, and property value. Some banks fund up to 70–80% of the plot cost.
Can NRIs apply for a plot loan?
Yes, many lenders offer plot finance loans to NRIs with specific documentation.
Is it mandatory to start construction after buying the plot?
Some lenders require construction within a specified time (e.g., 2–3 years). Others allow it as a pure investment without immediate construction.