Plot Loan
Target Group | Eligible persons/Age of the Applicants/Recognition of Income level /NTHP as applicable for Home Loan Scheme to Residents/NRIs. | |
Purpose | Purchase of House site on ownership basis( not on lease basis) layout of which duly approved by Competent Authority . | |
Quantum of loan | Permitted up to 36 times of the Gross Monthly Income ( as per latest Salary Slip for salary class) or THREE times of Annual Net Income ( in case of P& SE /Business category- based on average of latest Two years ) subject to maximum of Rs,1200.00 lakhs. | |
For purchase of property in | Amount of loan ( Rs. In lakhs) | |
Rural Area | 100.00 | |
Semi urban | 200.00 | |
Urban | 600.00 | |
Metro | 1200.00 | |
Margin | Maximum 25 % for residents and NRIs on the cost of plot.
LTV ratio should not exceed 75%. If the value of the plot to be purchased is more than Rs.100.00 lakhs, valuation of two Independent panel engineers are to be obtained |
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( Last modified on Jul 24, 2020 at 07:07:54 PM )