The government has enabled the Housing Finance Bank to advance credit of up to Rs.30,000 crore to financial institutions for these bodies to extend loans to borrowers at affordable interest rates this year.
These measures, along with initiatives such as the Pradhan Mantri Awas Yojana have prompted the growth of housing loans in the current fiscal year.
Documents required for plot loans
There are several documents which an individual needs to produce when applying for a plot loan. These documents are concerned with different aspects of the applicant profile and also match that of a home loan.
These documents are –
Identity proof -
- Aadhaar card
- PAN card
- Voter ID card
- Driving license
You need to provide attested copies of any of the above-mentioned documents.
- Address proof
- Passport
- Ration card
You should furnish any of these documents after attesting it to prove your address.
- Income proof
- Salary slips of the last 3 – 6 months (salaried individuals).
- Income tax returns for the last 3 years.
- Bank account statements for the last 6 months.
- Papers to show proof of business (self-employed individuals).
These are all the documents necessary for a loan for land purchase. Individuals must also satisfy the home loan eligibility criteria for salaried individuals or self-employed individuals if they seek similar financing in the future.
