Only a few lucky people canconstruct a house in a dream location, brick-by-brick. We understand the immense satisfaction you will get as you see your dream taking shape. Muthoot Fincorp offers a Plot Plus Construction Loan with the sole purpose of helping you create that perfect home, in the ideal location!
Benefits and Features of Plot Plus Construction Loan
A home that meets the dreams and aspirations of all your family is hard to come by. But, with our Plot Plus Construction Loan, you can make it happen. We extend the loan to help you buy the plot of land, and then finance the remaining amount to construct the home as per your dream and needs.
Differential Loan Amounts & Tenures
We understand your needs are unique, and hence, we offer loan amounts varying Rs. 3-25 lakhs. ... read more Use our instalment calculator to choose a flexible repayment schedule for tenures raging up to 20 years. We have simple application and documentation processes to help you complete the formalities quickly.
Efficient Disbursal Process
Once the loan amount is approved, the amount is disbursed in phases. The first disbursal helps with purchasing ... read more the plot of land. Once the formalities of purchase are complete, the money for construction is disbursed. Please contact our customer care executive at 1800 102 1616 to understand the loan disbursal process.
Tax Benefits on Your Loan
You can claim deduction of up to Rs. 2,00,000 against interest paid from your gross income on our ... read more home loan products and as specified under Section 24(b) of the Income Tax Act, 1961. Under Section 80 (CCE) and 80C, the principal deductible amount is up to Rs 1,50,000 under.
We have broad eligibility criterion for the Plot Plus Construction Loan. Meet the below mentioned requirements to get a loan and become the proud owner of a new home.
- Minimum age at the time of application should be 21 years
- Maximum age at the time of loan maturity should be 65 years
- The applicant should either be salaried or self-employed
- The applicant must own a bank account
- There should be a Muthoot Blue branch in the borrower’s city
- The co-owner of the property should be the co-applicant for the finance
Documents needed for Plot Plus Construction Loan
There is no lengthy or cumbersome documentation process with Muthoot Fincorp. Put together the documents mentioned below for quicker loan approval and disbursement.
Muthoot Fincorp is bound by and follows the KYC forms as per the regulator’s guidelines.
Address Proof (Any one of the document)
- Passport / Ration card / Voter ID / Driving License / Registered Rental Agreement / Electricity or Landline bill issued within the previous 3 months
Identity Proof (Any one of the document)
- Driving License/Voters ID Card, Passport/Ration Card/Driving License / Photo Credit Card / PAN Card / Employee ID card for Government servants
Contract with the builder
- of the Housing Board for sale of the property
- Bank statement stating transactions for the previous three months
For Salaried Persons
- three months’ salary slips with ITR or Form 16 for salaried applicants seeking housing loan in India
Contact our customer care representatives at 1800 102 16161 for more details.
How to Apply for Plot Plus Construction Loan from Muthoot Fincorp
It is our commitment to offer you easy loan application, submission and approval procedures. When applying for a Plot Plus Construction Loan, you can do so in any one of the following ways:
You can call our toll-free number 1800 102 1616 and talk to our customer care executive for details to understand the loan approval and disbursal process
Visit the nearest Muthoot Fincorp Branch
You can visit the nearest Muthoot Fincorp branch and our customer care executives will help you through the process.
Please note, all the documents you share with us will be scrutinised and your eligibility criteria checked to help expedite the approval and disbursement process. We are always ready to helpyour create the perfect home for yourself and your family.
Blue Soch Stories
Why Choose Muthoot Blue for Plot Plus Construction Loan?
Muthoot Blue (Muthoot Pappachan Group) has a reputation that has been shaped over decades with high-quality practices, total customer satisfaction, and steady growth. Today, Muthoot Fincorp, our flagship company, is one of the largest NBFCs in India and we continue to work with the aim of providing timely credit to the common man with Blue Soch. Hence, our Plot Plus Construction loan services are designed to help you get the loan amount easily and with minimum hassles.
- We have over 4200 branches across India. Visit your nearest Muthoot Blue branch to get a loan quickly and without any hassle.
- Nearly 1,00,000 customers walk into our branches daily and are assured of trustworthy and simple services.
- Our customer-centric approach and innovation over the past +132 years without compromising on the God-given values of trust, truth, transparency and tradition is what helps us in empowering the human ambitions.