Plot Loan

Plot loans are short-term loans that allow you to borrow a predetermined amount of money for a set period of time. You simply pay back the loan at the end of the term, plus interest. 

Advantages of Taking Plot Loan

  • Land as a resource is limited and thus making it a worthwhile investment which gives better returns on a resale.
  • Plots can be considered as affordable comparative for individuals
  • As an investment purchasing a piece of land has little or no waiting time
  • Gives the buyer the freedom and flexibility to start building their own house according to their specifications
  • While there are many advantages, there are also some disadvantages of that need to be taken into account by buyers, this include lack of tax benefits and lower LTV which we will get to in detail shortly.
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Documents Required For Applicant

  • KYC Documents
  • Home related documents
  • Copy of last 2 years Income Tax Returns of the applicant along with computation of income duly attested by a Chartered Accountant
  • Copy of last 2 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a Chartered Accountant
  • Bank Statement for the last 6 months for the Savings Account & Current Account,
  • Copy of either Shop & Establishment License / VAT Registration or GST registration any other mandatory license / Registration
  • Copy of the Partnership Deed, Memorandum of Associations, Articles of Association (if applicable)
  • Copy of Tax Deduction Certificate / Form – 16A (if applicable)
  • Details of Contract (if applicable)
  • Copy of Advance Tax paid / Self Assessment Tax paid challan
  • Copy of Educational Qualification Certificate
  • Copy of Professional Practice Certificate
  • Salary Certificate (in case of doctors having salaried income)

 

Documents Valid As Address Proof

  • Rashan Card
  • Electricity Bill
  • Mobile Bill
  • Land Line Bill
  • Passport
  • Mool Niwas Patra
  • House Tax Slip
  • Water Bill
  • Gas Bill
  • Aadhaar Card

 

Documents Valid As ID Proof

  • Pan Card ( Compulsory )
  • Aadhaar Card ( Compulsory )

Get a Quote

Now apply for Loan online, All you need to do is provide your details below application form.