Plot Loan

A Plot Loan (Land Loan) is a loan specifically designed for purchasing a piece of land. Borrowers typically use plot loans to buy residential, commercial, or investment land. It is different from a home loan, which is used for buying or constructing a residential property.

Finvest Fortune Plot Loan Features

Online Plot Loan Sanction Facility

Get your plot loan sanctioned conveniently online, saving time and effort.

Quick Sanction and Low EMI

Enjoy a fast approval process and flexible repayment options with affordable EMIs.

Simple Documentation

Hassle-free application process with minimal documentation requirements.

Amongst the Lowest Rate of Interest

Competitive interest rates, making your plot purchase more economical.

Key Features of Plot Loans

Purpose:

Purchase of land for residential or investment purposes (not for agricultural or industrial land).

Loan-to-Value (LTV) Ratio:

Usually up to 70%-80% of the land's value (the borrower must fund the remaining amount).

Tenure:

Shorter compared to home loans, often up to 15 years.

Interest Rates:

Can be slightly higher than standard home loans.

Tax Benefits:

Tax deductions under Section 80C and 24(b) of the Income Tax Act are available only if the plot is used for self-construction.

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What is a Plot Loan?

A plot loan (or land loan) is designed to purchase a piece of land. Borrowers typically use plot loans to buy residential, commercial, or investment land. It is different from a home loan, which is used for buying or constructing a residential property.

What is the minimum down payment required for a commercial Plot Loan?

Typically, a minimum down payment of at least 25% is required for commercial Real Estate Loans

What Documents are Required for a Plot Loan?

The Documentation may vary between Lenders, but common requirements include Proof of Identity, Address, Income Documents, Property Documents, and details of the Plot. You can find a checklist regarding Documents required on Click Here

Who can Avail Commercial Property Loan (Plot ) ?

Self Employed persons like Doctors, Lawyers, Chartered Accountants and Business Owners can avail a Commercial Property Loan(Plot) for Building an office or a Clinic Thereon.