Vastu Housing Finance Plot Loans

Vastu Housing Finance, a housing finance company, is dedicated to helping customers achieve their dream of owning a new home. They offer plot loans to facilitate the purchase of residential plots and the construction of houses on them. These loans cater to salaried and self-employed individuals, providing flexible options for different financial needs. The loan is structured to cover the plot purchase and construction costs, ensuring a seamless process for borrowers.

Vastu Housing Finance Plot Loans – Highlights

Below are the key feature of the Vastu Housing Finance Plot Loan:

Vastu Housing Finance Plot Loan Interest Rates

The interest rates for Vastu Housing Finance Plot Loans vary based on the borrower’s employment status. The following table summarises the details:

Vastu Housing Finance Plot Loan Fees and Charges

The fees and charges associated with the Vastu Housing Finance Plot Loan include various processing and penalty fees. The following table provides an overview:

Vastu Housing Finance Plot Loan Eligibility Criteria for Salaried

To be eligible for a Vastu Housing Finance Plot Loan, salaried individuals must meet the following criteria:

• Minimum age: 21 years
• Maximum age at loan maturity: 65 years
• Stable employment with a minimum of 2 years of work experience
• Minimum net monthly income as per lender’s requirements

Vastu Housing Finance Plot Loan Eligibility Criteria for Self-Employed

Self-employed individuals must meet the following eligibility criteria for a Vastu Housing Finance Plot Loan:

• Minimum age: 21 years
• Maximum age at loan maturity: 65 years
• Minimum of 3 years of business continuity
• Satisfactory credit history and financial stability

Vastu Housing Finance Plot Loan Documents Required for Salaried

Salaried individuals need to provide the following documents for a Vastu Housing Finance Plot Loan:

• Identity proof (Aadhar card, PAN card, etc.)
• Address proof (Utility bills, rental agreement, etc.)
• Income proof (Salary slips, Form 16, bank statements)
• Employment proof (Employment certificate, offer letter)

Vastu Housing Finance Plot Loan Documents Required for Self-Employed

Self-employed individuals must submit the following documents for a Vastu Housing Finance Plot Loan:

• Identity proof (Aadhar card, PAN card, etc.)
• Address proof (Utility bills, rental agreement, etc.)
• Income proof (Income tax returns, bank statements)
• Business proof (Business registration certificate, financial statements)

Features of Vastu Housing Finance Plot loans

The Vastu Housing Finance Plot Loan comes with several features and highlights:

• Financing up to 75% of the plot cost or 60% of market value, whichever is lower
• The loan is structured in two parts: plot purchase and construction
• Construction must be completed within a stipulated timeframe as per NHB guidelines
• Comprehensive collateral evaluation, including legal and technical appraisal
• Insurance coverage is recommended for the property and loan repayments

Things to Remember while Applying for a Vastu Housing Finance Plot Loan

When applying for a Vastu Housing Finance Plot Loan, consider the following points:

• Ensure you meet the eligibility criteria for your employment status
• Gather all required documents for a smooth application process
• Understand the interest rate structure and choose accordingly
• Be aware of all fees and charges associated with the loan
• Consider the importance of timely construction to avoid penalties
• Ensure adequate insurance coverage for the financed property and loan repayments
• Be prepared for a thorough collateral evaluation process