Plot + Construction Loan
Your Land, Your Home, One Easy Loan
If you’re building your dream home, ICICI HFC has a complete solution. Own a plot or buying one? Get a loan that covers both buying land and self-constructing your house.
two_card_carousel
A 2-in-1 Solution
Avail a single loan for land purchase and construction
img-alt
Wider Eligibility
A variety of profiles with different income sources can apply
img-alt
A Variety of Properties
Loan solutions that suit your unique property type
img-alt
Easy, Transparent Terms
Quick fund disbursal tuned to your construction stages
img-alt
Who Can Apply for Plot + Construction Loan?
Everyone’s requirement is unique. That’s why we cater to a variety of customers with clear, flexible eligibility criteria to make your home loan process easier.
Eligibility for Plot + Construction
true
threeCol
Criteria
Salaried
Self-Employed
Maximum Loan Amount
₹5 crore
₹5 crore
Age
21 to 60 years
23 to 70 years
Bureau Score
700+ or New to credit
700+ or New to credit
Work Experience / Vintage
Minimum 1 year in current company and 2 in total
Minimum 2 years in current business and 3 in total
Minimum Income
₹12,000+ per month
₹1.5 lakh per annum
Disclaimer: Subject to ICICI HFC internal policies
Digital Documentation – Simple and Quick
How it works?
Step 1: Online Application
The Relationship Manager can help you fill out the loan application online
Step 2: Automatic Verification
Our system auto-fetches all relevant documents with your consent for verification
Step 3: Income Assessment
We evaluate your profile to ensure maximum eligibility and conduct personal discussion towards loan approval
Step 4: Property Valuation
We conduct a comprehensive verification of your chosen property
Step 5: Approval & Sanction
Once you qualify, we go through with the approval and issue a sanction letter
Step 6: Disbursal
The loan is ready for disbursal! You’re a step closer to building your house
Understanding Your Fees
Overview
How does a plot + construction loan work?
ICICI HFC offers a plot plus construction loan that allows you to purchase a residential plot and build your home on it. The loan for new construction is released in stages, depending on the progress of the construction work.
How is a plot + construction loan different from a regular home loan?
A regular home loan is offered for ready-to-move or under-construction properties. In contrast, a plot plus construction loan covers both the purchase of a plot and the construction of a house on it.
How can I get a loan for buying a plot and building on it?
You can apply under the Plot + Construction Loan product. Submit the necessary documents, including proof of plot ownership and your construction plan. Once approved, the loan amount will cover both the plot purchase and the house construction.
How soon must I start construction after purchasing the plot?
Construction must commence within two years of purchasing the plot. If construction does not begin within this period, the plot loan may be converted into a non-housing loan (NHL), which could affect your loan interest rate.
How long is the tenure for a plot + construction loan?
The tenure for a plot purchase and construction loan can be up to 20 years, depending on your eligibility and repayment capacity.
How can I apply for a construction loan jointly with a family member?
You can apply jointly by adding the co-owner as a co-applicant.
Documents
What documents are required for a plot + construction loan?
You will need to provide:
- PAN card
- Aadhaar, Passport, Driving License, or Voter ID
- Income proof (salary slips, ITR, or bank statements)
- Property ownership documents
- Approved construction plan and cost estimate
- Municipal or local authority approvals, if applicable
How are income documents evaluated for plot + construction loans?
For salaried applicants, salary slips, and bank statements are reviewed. For self-employed applicants, ITRs, bank statements, and GST returns are assessed. These help determine your loan eligibility based on your income and FOIR.
What are the property documents required for a plot loan?
To apply for a plot construction loan, you must submit:
- Sale deed
- Title documents
- Encumbrance certificate
- Land conversion certificate (if applicable)
How are co-applicant documents handled for a joint loan?
Each applicant must submit their KYC documents, proof of income, and ownership papers (if they are a co-owner). These are essential for processing a joint plot and construction loan.
Eligibility
How is eligibility determined for a plot + construction loan?
Eligibility for a plot purchase and construction loan is based on several factors, including your income, FOIR, CIBIL score, property value, location, and construction plan approval.
How is eligibility affected if the plot is jointly owned?
If the plot is jointly owned, all owners must be included as co-applicants. Their combined income may be considered, and joint ownership documents must be submitted to process the loan for building a house.
Frequently Asked Questions
Still got questions? We have answered them. Select the category to explore the FAQs.
Process
How is property valuation done during the loan process?
A technical team conducts a site visit and uses the PAS system to determine the property’s valuation. This assessment helps decide the property valuation and construction stages for the plot and construction loan.
How is the disbursement process structured for a plot and construction loan?
The plot and construction loan is disbursed in stages—typically at the foundation, plinth, roof, and completion phases. Each stage is subject to verification by the technical team before release.
How is the loan disbursed in stages during construction?
At every stage of construction, a site inspection and progress report are required. The technical team reviews the progress before approving the next disbursement of your house construction financing.
Full Name*
text
static-app-full-name
Phone Number*
tel
static-app-phone-number
false
Apply Now
primary