HDFC Sales Plot Loans

HDFC Sales Plot Loan is the ideal alternative for anyone purchasing a plot of land. Buying land is simple and affordable, with various repayment choices and attractive interest rates. The loan application process is quick and easy, with minimal documentation required. Borrowers can select a repayment period that suits their financial needs, ensuring ease and comfort. HDFC Sales is dedicated to offering consumers a seamless and efficient experience as they pursue their dream of land ownership. With HDFC Sales Plot Loan, you may make your ambition a reality. Choose HDFC Sales for a dependable and stress-free lending experience.

HDFC Sales Plot Loan Interest Rates 

Below are the HDFC Sales land loan interest rates:

HDFC Sales Plot Loan Fees and Charges

Below are the fees and charges of the HDFC Sales housing loan for a plot:

HDFC Sales Plot Loan Eligibility Criteria for Salaried

Salaried candidates must follow the below-mentioned criteria to be eligible for the HDFC Sales land purchase loan:

• Age range: 18-70 years.
• Must be a salaried employee.
• Nationality: Resident Indian.
• Maximum loan tenure: Up to 15 years.
• All co-applicants need not be co-owners, but all co-owners must be co-applicants.
• Higher loan eligibility is possible with an earning co-applicant.
• Loans up to ₹30 lacs: 80% of the property cost can be financed.
• Loans from ₹30.01 lacs to ₹75 lacs: 80% of the property cost can be financed.
• Loans above ₹75 lacs: 75% of the property cost can be financed.
• Funding limits may be restricted up to 70% of the cost/value of the plot if located outside city limits; this applies to direct allotment cases only.

HDFC Sales Plot loan Eligibility Criteria for Self-employed

For self-employed individuals seeking HDFC Sales home loans for land purchase, the eligibility criteria are as follows:

• The age range of applicants is 18 to 70 years.
• Applicants must be self-employed as doctors or attorneys or non-professionals such as traders and contractors.
• Must be a resident of India.
• The loan term can be up to thirty years.
• Loans up to ₹30 lacs allow borrowing up to 90% of the property cost.
• Loans range from ₹30.01 lacs to ₹75 lacs, covering up to 80% of the property cost.
• For loans above ₹75 lacs, you can borrow up to 75% of the property value.
• Having a co-applicant who earns can enhance the amount you can borrow.
• All co-owners of the property must be co-applicants for the loan.

HDFC Sales Plot loan Documents Required for Salaried

Here are the documents required for plot loan HDFC Sales:

HDFC Sales Plot loan Documents Required for Self-Employed

Here are the documents required to get a HDFC Sales home loan for land purchase for self-employed candidates:

Mandatory Documents

PAN Card or Form 60 (If the customer does not have a PAN Card)

KYC Documents

1. Identity Proof (Any one of the following):

• Passport (valid)
• Driving License (valid)
• Election/Voter ID Card
• NREGA Job Card (signed by State Government officer)
• Letter from National Population Register (with details of name and address)
• Proof of possession of Aadhaar Number (voluntarily provided)

1. Address Proof (Same as Identity Proof documents above if they include address)

Income Documents

1. Income Returns: Last 2 Assessment Years’ Income Returns and Computation of Income (individual and business entity, attested by a CA)
2. Balance Sheet and Profit & Loss Statements: Last 2 years’ Balance Sheet and Profit & Loss A/c Statements (with Annexures/Schedules, attested by a CA)
3. Bank Statements:

• Last 12 months’ Current Account Statements of the business entity
• Last 12 months’ Savings Account Statements of the individual

1. Latest Form 26 AS

1. List of Directors and Shareholders (with individual shareholding certified by a CA/CS if the business entity is a company)

1. Memorandum and Articles of Association (if the business entity is a company)

1. Partnership Deed (if the business entity is a partnership firm)

Property Related Documents

1. Copy of Allotment Letter / Buyer Agreement
2. Title Deeds (including the previous chain of property documents in resale cases)

Other Requirements

1. Own Contribution Proof

1. Bank Statements:

• Last 6 months’ Bank Statements showing repayment of any ongoing loans

1. Passport Size Photograph of all applicants/co-applicants (affixed on the Application form and signed across)

1. Cheque for Processing Fee (favouring HDFC Sales)

1. Details of Ongoing Loans (individual and business entity, including outstanding amount, instalments, security, purpose, balance loan term, etc.)

Features of HDFC Sales Plot loans

Here are the features of HDFC Sales Plot Loans:

• Loan Amount: Get loans up to 70% of the plot’s market value.
• Flexible Tenure: Choose a repayment tenure of up to 15 years.
• Attractive Interest Rates: Competitive rates for both salaried and self-employed individuals.
• Quick Processing: Fast loan approval and disbursal process.
• Simple Documentation: Minimal and straightforward documentation requirements.
• Prepayment Options: Facility to prepay the loan without heavy penalties.
• Easy EMI Options: Flexible EMI options to suit your repayment capacity.
• Insurance: Option to insure the loan amount for added security.

Things to Remember while Applying for an HDFC Sales Plot Loan

When applying for an HDFC Sales plot loan, here are some key points to consider:

• Eligibility criteria include age, income, occupation, and credit history. HDFC need a steady income and a high credit score.
• Prepare your identity, address, proof of income (salary slips, bank statements, tax returns), and property documents.
• HDFC requires a down payment. Make sure you have enough money to cover this, as well as any additional taxes or stamp duty.
• Determine the tenure and interest rates for your job type and credit score. Select a relevant tenure.
• The plot must be approved by the local authorities and adhere to regulations.
• Be aware of processing fees and penalties.