Q: I and my brother are planning to buy a plot of land in BEML, RRNagar, the cost of the land is around 85 lakhs. Can we get a loan for the plot from any public sector bank?
According to the RBI you can get 60% of the agreement value as a loan over residential plot. It is better if you consult the bank for the loan because each bank have their own criteria for sanctioning the loan based on your disposable income.