Commercial Plot Loans

HDFC is India’s premier housing finance company offering a wide range of home loan products that are customized to your needs and can be comfortably repaid over a longer tenure. HDFC’s end-to-end digital home loan application process, integrated branch network across the county and 24X7 online assistance can make your home owning journey a memorable one.

You can now apply for a home loan online in 4 simple steps with HDFC’s quick and easy apply online module.

The following points need to be kept in mind before applying for a home loan

• Check your loan eligibility before starting your home loan application.
• Go through the list of documents required and keep them ready before starting your home loan application process.
• Be clear about the type of home loan you need (home loan, home improvement loan, plot loan, etc.)
• Read the FAQs before starting your loan application process.
• Make sure you provide all the details that the home loan provider will need to process your application.

1. It helps you avail funds for home purchase

   It can take years to accumulate sufficient funds for buying a house. However, you don’t need to wait this long. You can simply take a home loan to purchase your dream house.

2. It offers Tax Benefits

   A home loan offers income tax benefit on the interest and principal repayments. You can claim tax deduction on principal repayments u/s 80C and on interest repayments u/s 24B.

3. Low interest rates

   Interest rates on home loan are lower than other types of loans. Availing a housing loan has become very affordable today.

4. Customised repayment options

   Home loan providers tailor your home loan repayment to suit your requirements.

• Improve your credit score by creating a reasonable track record of timely repayments so that you achieve a high credit score which would improve your prospects of getting a home loan.
• Obtain your credit report periodically, say once or twice in a year, verify the same for errors and get them rectified as and when required.
• Ensure that the documentation of your home loan application is in order as per the requirement of the lender.
• Avoid frequent job changes as this presents a picture of instability.
• Check with the lender if the property that you have shortlisted will be considered for a housing loan. At the same time, do an independent due diligence.
• You can take the following steps to improve your chances of getting a home loan

Self Employed persons like Doctors,Lawyers,Chartered Accountants and Business Owners can avail a Commercial Property Loan(Plot) for building an office or a clinic thereon.

You can avail a Commercial Property Loan for a maximum term of 15 years or till your age of retirement ,whichever is lower.

You can find a checklist regarding documents required and applicable fees charges on https://www.hdfc.com/checklist#documents-charges