Monthly EMI
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Total Interest
₹0
Total Payment
₹0
Amortization Schedule
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About Land / Plot Purchase Loans
A land loan is a secured loan taken to purchase a residential plot or agricultural land. Unlike home loans, land loans are subject to more restrictions:
- Interest rates are typically 0.5%–1% higher than home loan rates
- Maximum LTV (Loan-to-Value) is usually 70%–75% of plot cost
- Maximum tenure is capped at 15 years by most lenders
- Agricultural land loans may have different terms and may not qualify for income tax benefits
Residential plot loans come with tax benefits on principal (Section 80C) when construction is completed within 5 years, and on interest under Section 24 post-construction.
Frequently Asked Questions
Can I get a land loan for agricultural land?
Yes, but terms differ. Agricultural land loans are typically offered by cooperative banks and regional rural banks. Private/urban commercial banks primarily finance residential plots.
What is the maximum tenure for a land loan?
Most lenders cap land loans at 10–15 years, compared to 30 years for home loans. Use this calculator for accurate EMI for tenures up to 15 years.
Is GST applicable on land purchase?
No GST is charged on outright land/plot purchases. GST applies only on under-construction residential units.