Composite Loan towards Purchase of Plot and House Construction. Loans are granted under Composite loan scheme only if the Applicant is intending to complete the construction within 3 years from the date of plot purchase. Maximum 60% of the sanctioned amount to be utilized towards purchase of plot and balance amount should necessarily be utilized The following loans shall qualify as business loans 1. LRD loans 2. Loans against property Home Equity Loan for Business Purpose Working Capital, Debt Consolidation, Repayment of Business Loan, Expansion of business, Acquisition of Business asset or any similar end usage of funds. 3. Non Residential properties 4. Non Residential Equity Loan for Land Purchase Loan for land purchase is offered by banks when you need financing to buy a plot or a piece of land. This loan is generally provided for residential purposes and in urban areas. However, some banks do let you use the loan amount to purchase land in a rural Loan For Land Purchase - Interest Rates, EMI Calculator, EligibilityGetting A Construction Loan For Investment Property Home loan to build a house off-plan | Standard BankLoan For Land Purchase | Loan For Plot Purchase - HDFC Plot LoansLIC HFL offers loan for Construction of home. Maximum Loan Amount and Repayment Period Loan to Property Cost. 90% of Property value for loan upto lakh; 80% of Property value for loan more than Rs. 30 lakh and upto lakh; 75% of Property value for loan above lakh; Maximum repayment period. For salaried upto 30 yearsTo get a better idea of the documents required to apply for a house and land package loan, check out the construction loan documents page. We suggest that you get pre-approval first. That way, all you’ll need to provide is a few other documents to apply for your house and land package ;· A construction loan allows you to drawdown progressive payments according to the stages of construction. There are five stages of construction that are usually considered: Purchasing the land. Base/Foundation. Roof (including frames) Fittings. Completion. Once a stage of construction is completed, you can request the next ;· A construction loan can be used for a number of projects, depending on your lenders’ requirements and terms of agreement. Here are a few of the ways to utilize an investment property construction loan: Purchasing raw land. Pouring foundation. Building an addition to a property. Framing and finishing a house. Building sheds or other structuresIf you want to first finance buying your land, and then later apply for a building loan, different criteria could apply to a land-only loan. If you only want to finance your land right now, and don’t plan on building for a while, we can offer you up to 60% loan to value, over a ten-year period.
