Land Purchase Loan

A Land Purchase Loan is a type of loan offered by banks and financial institutions to help buyers finance the purchase of a plot of land. This loan can be availed for buying land either for residential construction, commercial development, or long-term investment.

These loans are typically offered only for non-agricultural, clearly demarcated, and legally approved plots. The borrower must usually begin construction within a specific period (typically within 2 years) if the land is intended for residential use.