Loan for land purchase without construction ime limit

Q: hi, I am looking for loan for residential loan purchase in Bangalore, but all the bank have the clause of starting the construction within 18 months. I will not be able to construct the house for at lease 3-4 years. Are there banks which give land loan and don't have such stringent conditions? if yes can you please suggest the names of such banks?

sonu , Apartment Resident

26th July 2013

Home Loan in Varthur, Bangalore

loan to buy a plot

Follow Discussion

Also see discussions for

Bangalore Varthur Home Loan Home Loan in Bangalore Home Loan in Varthur

Replies (1)

Hi Sonu, If the project is in gated community then will will get loan form the bank but if is an individual land then banks are not proving loan for such kind of project

Venugopalan, Bangalore

29th July 2013

Comment

hi, thanks for reply..i enquired in many banks from SBI to HDFC, ICICI everywhere...only HDFC. all of them are ready to give land loan but except for HDFC all have a clause that the constryction should complete in 2-3 years..otherwise heave penalty is there. HDFC has 5 years of cap.

sonu , Apartment Resident

31st July 2013