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With home construction loan, you can easily construct a house of your choice. A home loan for self-construction can be easily availed, and with flexible tenures and affordable EMI rates. One can apply for house construction loan in Delhi/NCR. There are several benefits which you can avail while applying for home construction loan. These are attractive interest rates and generous tax benefits among others.
Home Construction Loan Interest Rates
|
List of Banks |
Home Construction Loan Interest Rates |
|
HDFC Bank |
7.35% p.a. |
|
Canara Bank |
6.90% p.a. |
|
State Bank of India |
6.95% p.a. |
|
PNB Housing Finance |
9.25% p.a. |
|
Bank of Baroda |
6.85% p.a. |
|
DHFL |
9.50% p.a. |
|
Federal Bank |
8.15% p.a. |
|
Aditya Birla Housing Finance |
9.00% p.a. |
Documents Required For Car Loan
- Proof of Identity – PAN Card / Driving license / Voter ID / Passport / Aadhar Card.
- Proof of address – Passport / Utility bill / Aadhar card
- Proof of Income – Latest salary slip / ITR / Form-16
- Bank Statement – Last 3 months bank statement / last 6 months bank passbook.
- Property related documents – Title deeds of the plot / Proof of no encumbrances on the property / Construction estimate by an Architect / Civil engineer
AV Vision - Your Trusted Partner & Best Construction Loan Provider
Anyone can apply for a plot plus construction loan when you have decided to build a house on that piece of land within the next few years. The land may be free-hold or a plot allotted by a development authority. The loan is disbursed in multiple tranches, according to the stages in construction.
There is no fixed lower limit as to how long you have to keep the land before beginning the construction. However, make sure that you complete the construction work within 3 years of purchasing the plot or land and approval of construction loan. One has to give a written undertaking as well to the bank or the finance company in this regard.
