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Home Construction Loans
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Home Construction Loans

Our home construction loan facility can be used for constructing your dream home, on your owned plot.

  • Features

  • Calculator

  • Documents

Loan Term

The maximum term of your home construction loan can be up to 30 years and it cannot extend beyond your retirement age or 60* years (whichever is earlier).

*60 years for salaried individuals and 70 years for self-employed individuals.

Loan Amount

You can get a loan up to 100% of the construction estimate subject to a maximum of 90% of its market value (whichever is lower) for the loan requirement up to Rs. 30 lakh*. Construction estimate to be certified by chartered engineer/architect and duly verified by the Technical Officer.

Your home loan amount depends on your annual income and ability to repay the loan. You can increase your home loan amount by adding an earning co-applicant.

Calculate your eligibility basis your income now

*For loans above Rs. 30 Lakh, the loan to value applicable will be as per the DHFL norm and policy guidelines.

Interest Rate & Charges

Your home loan interest rate starts from 8.35%* p.a. Know more about fees and charges (*T&C Apply)

Modes of Repayment

You can pay your home loan EMIs through:

  • Electronic Clearing Service (ECS)/ National Automated Clearing House(NACH)- based on standing instructions, given to your bank
  • Post Dated Cheques (PDCs) - Drawn on your salary/savings account. (Only for locations where ECS/NACH facility is not available.)

Home loan tax benefits

Your home loan makes you eligible for certain tax benefits* as per the prevailing laws. This means that you can save more money by claiming deductions in your income tax, against principal and interest amount repaid.

*As per the Income Tax Act 1961, the current applicable exemption under section 24(b) is Rs. 2,00,000/- for the interest amount paid in the financial year and up to Rs. 1,50,000/- (under section 80 C) for the principal amount repaid in the same year.

FAQs

  • What is an EMI?

    EMI (Equated Monthly Installment) is the amount payable to the lending institution every month, till the loan is completely paid off. It comprises of the interest as well as the principal amount.

  • Who can be an applicant?

    To qualify for a home loan with DHFL, you must be:

    • An Indian resident or Non Resident Indian (NRI)
    • Above 21 years of age at the beginning of the loan
    • Below 65 years of age, when the loan matures
    • Either salaried or self-employed (businessman or professional)

  • What are the interest rates offered for home loans? What are daily reducing, monthly reducing and yearly reducing balance?

    Interest rates vary according to the market conditions and are dynamic in nature. The interest on home loans in India is usually calculated either on monthly reducing or yearly reducing balance. In some cases, daily reducing basis is also adopted.

    • Annual Reducing: The principal amount, for which you pay interest, reduces at the end of the year. Thus, you continue to pay interest on a certain portion of the principal which you have actually paid back to the lender. The EMI for the monthly reducing system is effectively less than the annual reducing system.
    • Monthly Reducing: The principal amount, for which you pay interest, reduces every month as you pay your EMI.
    • Daily Reducing: The principal, for which you pay interest, reduces from the day you pay your EMI. The installments that you pay in the daily reducing system is less than the monthly reducing system

    DHFL calculates EMI on monthly reducing basis only.

  • Are securities required for home loans?

    The property to be purchased itself becomes the security and is mortgaged to the lending institution till the entire loan is repaid. Sometimes additional security such as life insurance policies, FD receipts and share or savings certificates are required.

  • What are the tax benefits of home loans?

    Resident Indians are eligible for certain tax benefits on principal and interest components of a home loan. As per Income Tax Act 1961 rules, the current applicable exemption under section 24(b) is Rs. 2,00,000/- for the interest amount paid in the financial year and up to Rs. 1,50,000/- (under section 80 C) for the principal amount repaid in the same year.

    Click here to read more

  • Home Loan EMI Calculator

  • Home Loan Eligibility Calculator

Loan Amount
1 Lakh
5 Crore

I authorise DHFL and its representative to call me or SMS me with reference to this enquiry.

Loan Amount
1 Lakh
5 Crore
Calculate EMI
Hi ! Your Loan EMI will be

15,000

p.m.
Loan Amount
1 Lakh
5 Crore
Loan Tenure
1 Year
30 Years
Interest Rate
1%
15%
Apply Online What’s Your Eligibility

Know More on Home Loans

Hi Ankit ! EMI you need to pay is

15,000 p.m.

Loan Amount1,55,000
Loan Tenure20 years
Rate of Interest8.05 %
RecalculateApply Online

Know more on Home Loans

Monthly Income
10,000
10 Lakh

I authorise DHFL and its representative to call me or SMS me with reference to this enquiry.

Hi ! Your Monthly Income is
10,000
10 Lakh
Hi ! Your Loan Eligibility will be

15,000

EMI 12,000p.m.
Monthly Income
10,000
10 Lakh
Loan Tenure
1 Year
30 Years
Interest Rate
1%
15%
Apply Online

Know More on Home Loans

Hi ! You are eligible for loan amount of

25,000

EMI 12,000 p.m.
Monthly Income15,000
Loan Tenure 20 years
Rate of Interest 8.05 %
RecalculateApply Online

KYC Documents Documents for proof of identity and address

ID & Address proof (any one required)

  • Aadhaar card
  • PAN card (Mandatory, if income is considered for loan eligibility calculation)
  • Valid Passport
  • Voter ID card
  • Driving license
  • Aadhar Card

Driving license

  • Utility Bill: Electricity, Telephone, Postpaid mobile, water bill etc.
  • Ration card
  • Letter from employer
  • Bank statement /copy of Pass book reflecting address
  • Valid Rent Agreement
  • Sale Deed

*National Housing Bank (NHB) had introduced Know Your Customer (KYC) guidelines for housing finance companies. We request you to co-operate with us in complying with these guidelines. – The aforesaid sentence need to reframed with the help of concerned Dept. For eg instead of “Introduced” you can specify as NHB had set guidelines etc.

Income Documents Financial documents declaring your income.

Salaried individuals

  • Salary slips for the last 2 months or salary certificate*
  • Cash Salary – Income details on Company Letterhead (Salary upto Rs.30, 000 p.m.)
  • Copy of bank statements for the past 3 months (salary account)

*If variable components like over time and incentives are reflected, then salary slips for the past 6 months are required.

Self-employed professional

  • Certificate of qualification for professionals : CA, Doctors or Architects
  • Copy of last two years’ income tax returns, along with computation of income
  • Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable.
  • VAT or Service Tax returns or TDS Certificate
  • Bank statement for the last 6 months (Savings account, current account and O/D account)

Self-employed Non Professionals

  • Copy of your last two years’ income tax returns, along with computation of income
  • Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable
  • VAT or Service Tax returns or TDS Certificate
  • Bank statement for the last 6 months (Savings account, current account or an O/D account)

Property Documents Property related documents

  • Allotment letter from builder
  • Agreement of Sale
  • Registration and stamp duty receipt
  • Index- ii
  • NOC from builder
  • Own Contribution Receipt (OCR )
  • All builder linked documents (Applicable for cases which are not approved or previously not funded by DHFL)
  • Development Agreement
  • Tripartite Agreement
  • Partnership Deed
  • Sale Deed
  • Title Search Report
  • NA order

Note: Original documents are required for verification purpose only

Customer Stories

Achhelal Gupta - New Home Loans

Other banks refused to give me a home loan because I work in an informal sector, DHFL believed in my growth and supported me.

Chandru Kanna - New Home Loans

I am really impressed by DHFL’s service as they always try and serve you better.

Gurdeep Singh Giani - New Home Loans

I got a loan in the shortest time period and that too without any difficulty. I take pride in owning a home today.

Praveen - New Home Loans

Other banks offer a very high interest rate, while DHFL helped me to buy my dream home by providing me a low interest rate.

Bhikaji - New Home Loans

While other banks turned me away, because a rickshawala is not eligible for a home loan. DHFL trusted in my hard work and help me own a home.

Ramkrishna Raju - New Home Loans

I was very upset with the tedious processes of other banks for a home loan. DHFL sanctioned my loan without any hassles.

DHFL Home Construction Loan

 

Often regarded as one of the most fulfilling things to accomplish, building your dream home from scratch is a delightful thought for us all.

With your bought land beneath your feet, there’s nothing stopping you from seeing your dream project being complete, brick by brick. With DHFL Home Construction Loan, you can pave the way to ensure your home gets constructed just the way you want it to.

A home loan for self-construction can be easily availed, with flexible tenures and reduced EMI Rates, you can truly build your dream home from the ground up. Apply Online or speak to us in person at any of our branches around India.