You have identified a beautiful plot of land on which you wish to construct your dream home by yourself. Come to DHFL for a composite loan that covers the cost of the plot of land as well as the construction.
With this loan you can purchase non-agricultural land situated within Municipal / Local Development Authority limits and then construct your house.
Amount of Loan:
Towards Plot Purchase: You can get up to 75% of the registered sale deed value + stamp duty + Registration Fee.
Towards Construction Cost: Up to 85% of the construction estimate as certified by a chartered engineer/architect, subject to overall LTV (Loan to Value) of 80% of market value.
The loan amount can be further enhanced by adding an earning co-applicant. The actual loan amount is determined taking into various account factors such as:
- Repayment capacity
- Educational qualifications
- Stability and continuity of income
- Number of dependents
- Co-applicant’s income
- Saving habits, and more
To calculate your eligibility please use our Eligibility Calculator.
Work out your EMI using our EMI Calculator.
Maximum Tenure of Loan:
The tenure of your Plot Loan ranges from 1 to 20 years. The term however does not extend beyond the retirement age or 60 years whichever is earlier (65 years for self employed individuals).
DHFL understands the value of your hard earned money. With tenure of 20 years, you can reduce the EMI amount, so that your outgoings every month do not come in the way of your lifestyle and living standards.
DHFL offers one of the most competitive rates in the market. The Interest rate applicable is based on the DHFL’s Retail Prime Lending Rate (RPLR) which fluctuates from time to time based on the money market conditions.
This is charged as the fee towards processing your home loan application. In case of salaried individuals (SAL) it is 1% of the loan amount, whereas for Self – employed Professionals / Non Professionals (SEP / SENP) it is charged at 1.5% of the loan amount, plus Service Tax and Cess as applicable.
You have 2 options for repayment of the loan based on the EMIs payable:
a) Through ECS (Electronic Clearing Service) based on standing instructions to your bank.
b) PDCs (Post Dated Cheques) drawn on your Savings/Salary account.
Pre-Payments:No pre-payment charges if up to 20% of the principal loan amount is pre-paid in a financial year. For pre-payments above 20% in a financial year, a fee of 2% is charged on the excess amount being so paid.
No pre-payment charges, shall be payable if the loan is prepaid in full out of your own savings / resources.
A pre-payment charge of 3% charge on the outstanding amount is applicable if the loan is transferred to another financial institution or paid through other sources of funds.
For processing your home loan application, we’re required to adhere to certain documentation procedures. To enable us to speedily process your home loan application, we will require the following:
- KYC (Know Your Customer) documents
- Proof of Income documents and bank statements as per log-in checklist
- Property related documents.
Stamp Duty: Stamp duty on the loan documents to be executed shall be paid by the Applicant.