Plot purchase loan is the type of loan which is used to buy a land so that the applicant can build any building over the land. The applicant can get the plot purchase loan for the purpose of residential activity, investment or other construction. However, the plot purchase loans cannot be availed for agricultural land. With plot purchase loan, up to 70% LTV (Loan to Value) ratio over the property price can be availed. There are mainly two types of Plot purchase loans:
For working individuals:
For Entrepreneurs/self-employed applicants:
Some of the documents which are required to get eligible for Loan against Property are:
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