One quest that puts people all over India on a common platform is to own a house. This quest guides us for the major part of our lives, and we strive hard, make every effort and do everything possible to fulfill this quest. Due to different preferences, we all may have different choices such as someone might want to live in an apartment building while others may prefer to have a spacious house on a plot of land. If you are also facing such a dilemma, then you need to evaluate the advantages and disadvantages of both the options.
When you will do a careful analysis, you would realise that though owning an apartment is no doubt a good choice, it has certain limitations in terms of open space, lack of or restricted parking space, private garden area, and so on. Unless and until you are super-rich, in all likelihood, you will own only one house in your lifetime, so you need to make sure that it is perfect in every sense and free from most of these limitations. Owning a plot of land is the perfect answer to most of these shortcomings and is an alternative that you must consider, but this would raise your budget significantly as buying a plot and constructing your own house will be exponentially expensive as compared to buying an apartment.
With a limited budget and sources of finance, you might struggle to go for a piece of land because not only the price of the plot is going to be high, the cost and time of construction and various other expenses might be a deal breaker for you. There is no need to worry, many financial institutions in India offer Home Loans at attractive interest rates to help you realise your dream of owning a plot of land and constructing a house as per your wishes.
In the present scenario, one of the Best Home Loan Products is being offered by India’s premier Non-Banking Financial Corporation, Indiabulls.
Indiabulls Home Loan is one of the most popular Home Loan products in the market at present and is highly sought after by prospective homeowners. With a host of benefits, Indiabulls Home Loan is the perfect option for you, if you wish to own a plot and construct your house from scratch. Indiabulls offers a specialised housing loan product, plot loan, to help prospective homeowners purchase a plot of land. Some of the significant features of Indiabulls Home Loan are:
Indiabulls offers you a high loan amount to help you purchase a plot of land. The amount available depends on your credit score, financial strength, repayment capacity and value of the property. You can avail loans of up to 80% of the value of the property.
The Indiabulls Home Loan Interest Rate to purchase a plot is one of the lowest in the market, starting at 50%. It can increase a little bit depending on your credit profile. Low interest rates make it easier for you to manage the EMIs (Equated Monthly Instalments).
You can avail flexible repayment option for your Home Loan from Indiabulls including EMI holiday or a mortarium period. This will help you organise your finances efficiently before you begin the repayment.
Depending on your eligibility, you can avail extended repayment periods of up to 30 years to help you manage the burden of the EMI. You can foreclose or pre-pay the loan anytime you want, without incurring any foreclosure or prepayment charges.
You can apply for Indiabulls Home Loan through online channels. You can use the Indiabulls corporate website or use online finance marketplaces like MyMoneyMantra. You can access all information that you require on the website and then apply for Indiabulls housing loan using the online application form. You can also check your eligibility, monthly EMIs, interest rates, and other relevant information online.
Indiabulls Home Loans for plots are processed on a priority basis, and you can expect the disbursal within 10-15 days subject to the legal and technical report and the valuation report.
As you might feel a financial crunch after buying your own plot of land and require money for the construction of your home, you can avail a Loan Against Property from Indiabulls and easily manage the expenses involved.
Indiabulls Home Loans offer you an excellent opportunity to own your piece of land and construct it from scratch. There is no better feeling in this world than to have a place to call home. Use Indiabulls housing loan to build your own home and become a proud owner of your own house.
Also Read: 5 Steps to Getting a Home Loan in India
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