HomePlot + Construction Loan

Plot + Construction Loan

Our Plot + construction loan product is designed for the acquisition of plots and residential construction thereon.

1. Product Information

The product features are as follows :

  • Maximum Loan Amount 50 Lacs.
  • Maximum Tenure 240 months.
  • We offer Residential Plot Loans upto 75% of the cost of land or 60% of market value of land, whichever is lower.
  • The construction on the plot has to be completed within the stipulated time frame as per NHB guidelines.
  • The loan will have two parts; one for plot purchase and the other for construction.
  • Interest Rate
    PLR – 17.67 %
    Segment Interest Rate PLR Less Spread
    Salaried 12.5% - 16.5 % Less 5.17% – Less 1.17%
    Self – Employed 13.5% - 17.5 % Less 4.17% – Less 0.17%
  • Processing Fees
    Initial Non-refundable Processing Fee Rs 3,000 plus applicable taxes and/ or other statutory levies This is a one time non-refundable fee, and is collected by Vastu HFC for the purpose of appraising the application for the Loan and is independent of the outcome/result of such appraisal. This amount is payable at the time of submitting the application form.
    Processing Fees Upto 2% of Loan Amount plus applicable taxes and/ or other statutory levies.


  • The most important feature of our offering is that we do not collect any physical document from the customer until we are sure that we can satisfy your requirements.
  • Our documentation requirements are structured to ensure that we collect the least number of documents . The documentation includes an application form, copies of your identification documents, address proof, income documents, bank statements and property documents.
  • Please note that depending on the individual case, Vastu HFC reserves the right to ask for any additional documents as well.

3.Loan Disbursement

We undertake a comprehensive collateral evaluation which comprises of a legal and technical appraisal to understand the marketability, maintenance, the age of property, level of construction, quality of construction, if required legal clearances are in place and so on.

  • We will only release the construction loan component after the borrower has started construction on the plot and post completion of plinth.
  • To avail a plot + construction loan, the plot should have been purchased within a period of 6 months prior to date of sanction, otherwise only a construction loan can be availed by the borrower.
  • The amount sanctioned may be disbursed on the basis of the stage of construction of the property.
  • The amount disbursed may be done through electronic transfers or cheque

Security interest on the property being financed and / or collateral may be required as per the terms stated in the sanction letter.

As a customer of Vastu, we would provide you all the necessary records and documentation for you to avail the tax benefits on your loan.

We strongly recommend insurance coverage on the property being financed and on the repayments of your home loan.

Home Loan