If you come across a plot for sale that you feel makes the perfect location for your future home, then a plot loan can help you take advantage of the opportunity. Unlike home purchase loans which are used to purchase existing, built-up properties, plot loans allow you to purchase land. A land is a good investment which grows in value over the long-term. Hence, it gives better returns at the resale. Historically Indians have been purchasing lands or plot for various purposes predominantly as an investment.

Land as a resource is limited and thus making it a worthwhile investment which gives better returns on a resale.
Plots can be considered as affordable comparative for individuals
As an investment purchasing a piece of land has little or no waiting time
Gives the buyer the freedom and flexibility to start building their own house according to their specifications
While there are many advantages, there are also some disadvantages of that need to be taken into account by buyers, this include lack of tax benefits and lower LTV which we will get to in detail shortly.

KYC Documents
Home related documents
Copy of last 2 years Income Tax Returns of the applicant along with computation of income duly attested by a Chartered Accountant
Copy of last 2 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a Chartered Accountant
Bank Statement for the last 6 months for the Savings Account & Current Account,
Copy of either Shop & Establishment License / VAT Registration or GST registration any other mandatory license / Registration
Copy of the Partnership Deed, Memorandum of Associations, Articles of Association (if applicable)
Copy of Tax Deduction Certificate / Form – 16A (if applicable)
Details of Contract (if applicable)
Copy of Advance Tax paid / Self Assessment Tax paid challan
Copy of Educational Qualification Certificate
Copy of Professional Practice Certificate
Salary Certificate (in case of doctors having salaried income)

Rashan Card
Electricity Bill
Mobile Bill
Land Line Bill
Passport
Mool Niwas Patra
House Tax Slip
Water Bill Gas Bill
Aadhaar Card

Pan Card ( Compulsory )
Aadhaar Card ( Compulsory )