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What is a Home Loan for Self-Construction?

Instead of buying a ready-to-move-in house, you can choose to purchase a piece of land and construct your house on it brick by brick. A home loan for self-construction or simply a home construction loan is a special type of home loan given to help borrowers construct their own house on a piece of land or plot.

 

With Tata Capital Home Loan, you can get a plot loan of up to Rs. 5 crores at affordable interest rates, starting from just 8.95% per annum*. A home construction loan can help you meet all your financial requirements for the construction of your house, be it for buying a plot, procuring raw materials, and paying for the masonry work, among others.

  • Loan amount offered

    ₹ 5 lakhs to ₹ 5 crores

  • Loan tenure

    Upto 30 years

  • Interest rate starting @

    8.95% p.a.*

    View Rates & Charges

Advantages of Tata Capital Home Construction Loan

Loan for Land Purchase Through Direct Allotment/Resale

It is the best option for those who seek to buy a residential plot and construct a house on the same plot. You can use this loan to purchase a plot through direct allotment or resale.

Attractive Interest Rates

You can avail of a Tata Capital Plot Loan at an attractive interest rate, starting from just 8.95% per annum*. It can make the construction of your dream home much more affordable.

Balance Transfer Facility

You can also apply for a Tata Capital Land Loan to transfer your outstanding house construction loan balance from another lender. With reduced land loan interest rates, we can help you lessen your EMI burden significantly.

Easy Eligibility Criteria

With Tata Capital Plot Loan, you can get access to finances by meeting simple eligibility criteria. Furthermore, our plot loans involve instant approval and quick processing so that you can start the construction of your dream house as soon as possible.

Instant Approval

We provide instant approval for home construction loans. We ensure that you don’t have to wait for long to buy a plot and start the construction of your dream house.

Quick Processing

Tata Capital Plot and Construction Loans are processed and disbursed quickly. After submitting your land loan application and required documents, you can get the loan amount within three to five working days, subject to successful verification.

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Eligibility Criteria for Home Construction Loan

To avail of a house construction loan from Tata Capital, you will need to fulfill our simple eligibility criteria. Your home construction loan eligibility would depend on some basic factors, including:

  • You should be aged between 24 to 65 years

  • Salaried employees should have a minimum salary of Rs. 30,000 per month and at least two years of work experience

  • Self-employed individuals should have a business vintage of at least three years

  • In the case of NRIs, they should have a minimum work experience of three years

Benefits of Getting a Tata Capital House Construction Loan

  • Buy a Plot Anywhere in India

    With Tata Capital, you can apply for a loan for plot purchase and get financing of up to Rs. 5 crores. You can use this amount to buy a plot anywhere in India, be it through direct allotment or resale.

  • Build the House of your Dreams

    You can use a plot construction loan to construct your house over a plot brick by brick. Nothing can match the pleasure of watching your dream house taking shape over the years.

  • Add More space to your house

    You can also avail of a house construction loan to modify your existing house. For example, you can add more spaces to your living room, add an extra floor to your bungalow, or give your home a completely fresh look.

  • Reduce Your Taxable Income

    By availing of a loan for plot purchase and construction, you can get tax deductions under various sections of the Income Tax Act 1961. This can help you reduce your income tax outgo.

How to Apply for a House Construction Loan?

How to Apply for a House Construction Loan?

With Tata Capital, you can apply for a house building loan through any of the following methods:

  • Visiting Our Branch

    You can visit your nearest Tata Capital branch to apply for a plot and construction loan offline. Our executives there will guide you through the entire process.

    Locate a Branch

How to Apply for a House Construction Loan?

With Tata Capital, you can apply for a house building loan through any of the following methods:

  • Online

    You can apply for a Tata Capital construction loan online by visiting our website and simply entering a few basic details of yours.

    Apply Now

  • Through Your Phone

    You can even apply for a Tata Capital home construction loan by contacting us at 1860 267 6060.

    Request a call back

  • Through a Virtual Assistant

    You can take the help of our virtual assistant to apply for a Tata Capital plot and construction loan.

Calculate Your Plot Loan EMIs

You can use our online home loan EMI calculator to calculate the EMIs that you will have to pay for your Tata Capital Plot Loan. Your plot loan EMIs would depend on several factors, including your loan amount, applicable interest rate, and loan tenure.

Calculate EMI

More Home Loan products for you

Home Loan for government employees

With Tata Capital, you can apply for a home loan for government employees in a few easy steps and get housing finance at competitive interest rates.

Apply Now

Home Loan for self-employed

With Tata Capital, you can apply for a home loan for self employed in a few easy steps and get housing finance at competitive interest rates.

Apply Now

Home Loan for women

With Tata Capital, you can apply for a home loan for women in a few easy steps and get housing finance at competitive interest rates. 

Apply Now

What our customers say about us

Overall the experience was good and hope to continue the same. Also Tata Capital executive were nice and polite from the beginning.

Prasenjit Sen

Loan Against Property | 13 January, 2023

Thank you TATA Group for making India proud with all your hassle free and excellent services, Thanks Team

PRAMOD LINGSHETTY PATIL

Personal Loan | 31 December, 2022

I want to thank Tata Capital for giving Loan, During the process I was kept updated. Wanted to thank Tata Capital executive for answering my queries and keeping me updated on Status. Thank you

G BHASKAR

Personal Loan | 30 December, 2022

This is surprisingly easiest way to avail personal loan. I am completely happy with the service provided. Thank you team TATA CAPITAL!

Venugopal Raju

Personal Loan | 28 December, 2022

I was impressed with the way your staff handles their customers and if i come accross any family or friend who may be looking for any financial assistance, I shall surely recommend Tata capital

SHEELA AVINASH PATEL

Business Loan | 24 December, 2022

One of the best Mobile App, Tata capital only took 3-4 working day for loan approval.

ARJUN KUMAR

Personal Loan | 23 December, 2022

The services of Tata Capital is very good.. Approval process, loan charges are not hidden, every aspect was explained to me by Tata Capital executive before taking loan, very good transparency. Keep it up..

Prasanna Shriram Agashe

Personal Loan | 10 December, 2022

Excellent customer service with clarity and politeness. Thanks to TATA Capital having wonderful field staff.

S hari Haran

Two Wheeler Loan | 08 December, 2022

I am very happy that I got timely loan in my worst time.

THAKOR BHIMABHAI SHANKARJI

Personal Loan | 07 December, 2022

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Popular FAQs

What is a Home Loan?

A home loan, or a housing loan, refers to a sum of money borrowed from a financial institution to buy a new house. With a Tata Capital Home Loan, you can avail of high-value financing for convenient tenures at competitive interest rates. 

    You can apply for a housing loan for the following purposes:

  • Purchasing a ready-to-move-in or under-construction housing property
  • Buying a plot of land to construct a house on it
  • Renovating or repairing your home (Home Improvement Loan)
  • Adding new spaces to your existing house (Home Extension Loan)
What are the benefits of a Home Loan?

A home loan can help you purchase or construct your dream house without worrying about the requisite finances. At Tata Capital, we understand your housing finance requirements and provide you with the best home loan. 

Some benefits of a Tata Capital Home Loan include:

  • Attractive rate of interest
  • Loan tenure up to 30 years
  • Simple eligibility criteria
  • Flexible repayment solutions
  • Instant approval
  • Quick processing
  • Tax benefits
  • Door-to-door services
How can I use a Tata Capital Home Loan?

Tata Capital Home Loans are tailored to help you meet all your housing finance requirements. You can use our home loans for the following purposes:

  • Buying a ready-to-move-in property from the builder
  • Buying an under-construction property from the builder
  • Buying a resale housing property
  • Buying a plot to construct a house on it
  • Renovating or repairing your existing house
  • Refinancing an already purchased residential property
  • Transferring your outstanding home loan balance from another lender
Can a sanctioned Home Loan be canceled?

Yes, you can cancel your home loan even after it has been sanctioned. However, the lender may not refund the home loan processing fees that are charged during the home loan sanction process.

If you want to cancel your home loan after receiving your loan sanction letter, you can write to us or contact us on our helpline number. But make sure you do this well before the loan is disbursed.

Can I increase my Home Loan tenure?

Yes, you can extend your home loan tenure as long as it is within the maximum loan tenure offered by your lender. At Tata Capital, we offer home loans with maximum tenures of up to 30 years.

By extending your home loan tenure, you can reduce your EMI burden. To increase your home loan tenure, you can contact us on our customer helpline number or visit your nearest Tata Capital branch.

What factors cause the rejection of a Home Loan?

Some common reasons for the rejection of a home loan could be:

  • Inability to meet the home loan eligibility criteria
  • Non-submission of the required documents 
  • Low credit score
  • Incomplete or incorrect details in the home loan application

    • If your home loan application is rejected by the lender, find out the exact reason behind it. If a low credit score is responsible, take steps to improve your credit score before reapplying. Also, make sure you check your home loan application thoroughly before submitting it.

What is the Flexi EMI plan?

At Tata Capital, we provide two types of home loan repayment plans – Standard EMI Plan and Step-Up Flexi EMI Plan. The Standard EMI Plan allows you to pay fixed EMIs for your entire home loan tenure. On the other hand, the Step-Up Flexi EMI Plan offers greater flexibility for housing loan repayment. With the latter option, you can choose to pay lower EMIs initially and then increase them gradually as your income increases.

How can one apply for a Home Loan?

With Tata Capital, you can apply for a home loan in the following ways:

  • Online – You can apply for a home loan online in a few simple steps
  • Phone – You can call us at 1860 267 6060 to apply for a home loan
  • Branch – Visit your nearest Tata Capital branch during working hours

    • To apply for a Tata Capital Home Loan online, follow these steps:

  • Fill up an online housing loan application form
  • Upload the necessary home loan documents
  • Get on-the-spot approval
  • Avail of the loan amount in a few working days

Find the right Loan for you

Affordable Housing Loan

  1. At Tata Capital, we believe that every single person, regardless of their financial background, deserves a home to call their own.

With this vision, Tata Capital Housing Finance offers affordable home loans at competitive interest rates. 

Know More

Affordable Housing Loan

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Home Extension Loan

  1. As the years go by and your family continues to grow, does your house feel smaller?

Tata Capital’s Home Extension Loan is a perfect solution to help you give your family that additional space they deserve.

Know More

Home Extension Loan

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Home Loan for Self-Construction

Instead of buying a ready-to-move-in house, you can choose to purchase a piece of land and construct your house on it brick by brick. 

A home loan for self-construction or simply a home construction loan is a special type of home loan given to help borrowers construct their own house on a piece of land or plot.

Know More

Home Loan for Self-Construction

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Home Loan Top-up

A home loan top-up is a facility offered by lenders under which a borrower can take an additional loan over and above their existing home loan.

The home loan top-up facility is available only for existing home loan borrowers without the need for any additional security or guarantee.

Know More

Home Loan Top-up

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Home Loan Overdraft

At times, you may need additional funds to tackle your personal or business expenses. 

With Tata Capital’s home loan overdraft facility, you can avail of a home overdraft loan limit of up to Rs. 2 crores. You can withdraw funds from this overdraft housing loan limit as per your needs and then pay it back at your convenience.

Know More

Home Loan Overdraft

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Quick Cash

Quick Cash loan is a unique Pre-Approved personal finance top-up linked to your existing Tata Capital Housing Finance Limited (TCHFL) loans. This loan is only for existing TCHFL Home Loan and Home Equity customers.

Apart from its unique features, it also offers other advantages such as faster processing, and a paperless journey, notwithstanding that all this could be availed in just a few clicks at your convenience any day 24*7.

Know More

Quick Cash

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Balance Transfer

  1. A home loan balance transfer, or simply a home loan transfer, takes place when you transfer your outstanding home loan amount to a new lender from your existing lender.

With Tata Capital Home Loan Balance Transfer, you can transfer your outstanding home loan balance to affordable interest rates. Our home loan interest rates start from just 8.95% per annum*.

Know More

Balance Transfer

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