Land Purchase Loan
The Government of India lays down several terms and conditions for procurement of land. Additionally, we find several attractive loan plans having been brought forward by many leading private and public sector banks for the purchase of land and also for erecting a structure upon it. We provide you the details of land purchase loans in India, such as the banks, their eligibility criteria, rates, calculators and various other aspects.
Loans for Land Purchase: Criteria
In order to get your house loan sanctioned, you must satisfy the following criteria:
• An individual aged 21 years or above having a regular source of income.
• The maximum amount of Loan you can take from leading banks depends on a number of factors, such as the cost of house/flat, applicant's age, income, repayment capacity etc.
• Margin for purchase or construction of new house/flat is 15 percent of the project cost for individual borrowers and it is 10 percent when both husband and wife seek the purchase loan, with the latter acting as a co-borrower.
• The rate of interest whether for fixed-rate loans or for adjustable-rate ones are governed by the market conditions prevailing at the time of loan disbursement.
• Documents required for approval (businessman/ self-employed professional)
• Application form along with a recent photograph
• Proof for identity and residence
• educational qualification
• business profile with income statement of last three years
• last three years income tax return
• A cheque towards processing fee payment
• Documents required for approval (Salaried Class)
• Application form along with a recent photograph
• Salary slip for the current month
• Proof for identity and residence
• Bank's statement for the last six months
• Form 16
• A cheque towards processing fee payment
Land Purchase Loan in India
Some of banks providing land purchase loans are: HDFC Bank, ICICI Bank, Bank of India (loans to purchase a plot), Standard Chartered, IDBI Bank, State Bank of India (Unique House Scheme), and Union Bank of India, UCO Bank, Bank of Baroda, Citibank and Development Credit Bank.
HDFC Bank is one among the leading providers of finance for purchase of land in India. From HDFC, you can get as much as 85 % of the total cost of the land you are buying, with an option to pay the amount flexibly over a maximum period of 15 years. Another prominent bank helping you out in the purchase of land in India is State Bank of India, the largest in the country. There are a number of housing & land purchase loan schemes, such as the one known as Unique House Scheme that you can find at SBI at attractive interest rates and flexible repayment terms.
Find more on current land purchase loan rates and tools, such as land purchase loan calculators to estimate the equated monthly installments you need to pay in different pages of this site.
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Vastu Shastra (vāstu śāstra, also Vastu Veda,
"science of construction", "architecture") is a traditional Hindu system of design based on directional alignments. It is primarily applied in Hindu architecture, especially for Hindu temples,,
although it covers other applications, including poetry, dance, sculpture, etc. The foundation of Vastu is traditionally ascribed to the mythical sage Mamuni Mayan.
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Architecture and Design Architecture is both the process and product of planning, designing and constructing space that reflects functional, social, and aesthetic considerations. It requires the manipulation and
coordination of material, technology, light, and shadow. Architecture also encompasses the pragmatic aspects of realizing designed spaces, such as project planning, cost estimating and construction
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The principal information provided in set of house drawings are as follows: Site plans are drawn to show the location of a home on the property in its context. It is an overhead
view of the construction site and the home as it sits in reference to the boundaries of the lot. Site plans should outline location of utility services, setback requirements, easements, location of
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lines that scale at whatever width the walls are required to be. Dimensions are usually drawn between the walls to specify room sizes and wall lengths.
