Affordable Plot Plus Construction Home Loan in India
Plot Purchase Plus Construction Loan is a type of home loan that allows you to provide finance to purchase a residential plot also for the construction of a house on it, all under a single loan structure. It is different from standard housing finance as this loan option provide finance for both plot purchase and construction costs, making it ideal for those looking to purchase a land and also want to construct their dream home from scratch on that property.
Plot Purchase Plus Construction Loan Features and Benefits:
Single Loan for Dual Purpose: In this loan, financial institutions provide a single loan to cover two purposes – one is to purchase new land and the second is to cover the cost of constructing a house.
Flexible Disbursement: The loan amount will be released in different phases according to the progress of your home construction.
Longer Repayment Tenure: Enjoy flexible loan terms that can range anywhere from 6 years to 30 years, depending on our guidelines.
Tax Savings: Take advantage of tax deductions on both principal and interest repayments under Sections 80C and 24(b) of the Income Tax Act.
Interest Rates: Typically, the interest rates are similar to regular home loans; you can know the details by contacting us.
Various extra benefits accrue to either option
Instant Approval
less paperwork
flexible repayment
Minimum documentation
accessible online services
The myriad of home loans offered at our institutions
New Home Loans
These are for people who purchase newly constructed properties.