HDFC Plot Loan
Are you interested in purchasing a plot of land to construct your dream home? This loan product is tailored to fit your requirement-HDFC Plot Loan. With attractive rates, time duration, and minimal paperwork, this loan enables you to buy residential plots in approved locations.
HDFC Plot Loan
Investing in a residential plot is the first major milestone toward building your dream home. Plots can be bought for building houses from scratch. Sure, it is easier to buy a ready-made house, but creativity, personalization and long-term value is more when one owns a piece of land and designs his own house. To make this dream possible and affordable to the people, HDFC offers Plot Loans designed for clients who want to purchase a piece of land and build a residential property on that.
NoBroker acts as a complete trusted aggregator between the real person and top lenders such as HDFC, hassle-free and transparent loan process without brokerage; without compromise.
What is an HDFC Plot Loan?
HDFC Plot Loan is a type of housing loan purchased by a customer to acquire a residential plot. This is usually to encourage someone who intends to build their home immediately or later on to own a legally approved piece of land in their preferred locality.
Both salaried & self-employed individuals can avail of the facility for plots falling under approved municipal limits, plots developed by government/private developers, or sanctioned housing layouts.
It is similarity construction loans, but these types of loans do not insist that the buyer must immediately begin construction on the land. The loan allows for adequate time to plan, design, and finally, build the house on one’s terms.
Why Choose HDFC Plot Loans via NoBroker?
NoBroker simplifies the traditional loan application process. When you apply for an HDFC Plot Loan through NoBroker, you enjoy:
- Zero brokerage or commission
- Lowest possible interest rates & flexible tenure
- 100% electronic document and quick approval
- Expert assistance with paperwork and eligibility checks
- Personalized support during the whole loan journey
- Interest Rates on HDFC Plot Loans
HDFC has a floating interest rate that is indexed to the Policy Repo Rate, currently at 6.25%.
Interest Rates on HDFC Plot Loans
HDFC has a floating interest rate that is indexed to the Policy Repo Rate, currently at 6.25%. The final interest rate depends on the applicant’s profile (salaried or self-employed) and the loan scheme.
1. Special Home Loan Rates
Applicable for both salaried and self-employed (professional or non-professional) borrowers.
- Rate: Repo Rate + 2.45% to 3.30%
- Effective Rate: 8.70% to 9.55% per annum
2. Standard Home Loan Rates
Applicable for all categories if not eligible for special rates.
- Rate: Repo Rate + 3.15% to 3.70%
- Effective Rate: 9.40% to 9.95% per annum
Note: These are floating rates and may change over time based on the RBI’s monetary policy. All loans are at the sole discretion of HDFC.
Loan Eligibility Criteria for HDFC Plot Loans
Your eligibility depends on various financial and personal factors. Here’s what HDFC generally considers:
| Criteria | Details |
| Age | 18 to 70 years at loan maturity |
| Employment | Salaried or Self-Employed |
| Nationality | Resident Indian |
| Loan Tenure | Up to 15 years |
| Co-applicant | Optional, but can increase eligibility |
| Credit Score | A higher score improves approval chances |
Profession Categories:
- Self-Employed Professionals: Doctors, Architects, Chartered Accountants, Engineers, Consultants, etc.
- Self-Employed Non-Professionals: Traders, Contractors, Commission Agents, etc.
Tip: Adding an earning co-applicant increases your loan eligibility and can help you secure a higher amount.
Loan Amount and Funding Limits
The amount you can borrow depends on the value of the plot you want to purchase:
| Loan Amount Slab | Maximum Funding |
| Up to ₹30 lakhs | Up to 80% of property cost |
| ₹30.01 lakhs to ₹75 lakhs | Up to 80% of property cost |
| Above ₹75 lakhs | Up to 75% of property cost |
The remaining amount will need to be paid as a down payment from your funds.
Documents Required for HDFC Plot Loan
HDFC has a simple documentation process. You will need to submit identity, income, and property documents along with the loan application form.
A. Basic Mandatory Documents:
- PAN Card or Form 60 (if PAN is not available)
B. KYC Documents (anyone as identity & address proof):
- Aadhaar Card (voluntarily submitted)
- Valid Passport
- Driving License
- Voter ID
- NREGA Job Card (duly signed)
- Letter from the National Population Register
If your name has changed due to marriage, you can support it with a marriage certificate or a gazette notification.
C. Income Documents:
- Salaried Applicants: Salary slips (last 3 months), Form 16, bank statements
- Self-Employed: ITR (last 2-3 years), business proof, balance sheet, P&L statements
D. Property Documents:
- Sale agreement
- Title deed
- Approved layout plan
- Encumbrance certificate
Processing Fees & Charges
HDFC charges nominal fees to process your plot loan application, depending on your employment status.
| Loan Category | Processing Fee |
| Salaried / Self-Employed (Professional) | Up to 0.50% or ₹3,300 (minimum), + taxes |
| Self-Employed (Non-Professional) | Up to 1.50% or ₹5,000 (minimum), + taxes |
| NRI Applicants | Up to 1.50% or ₹3,300 (minimum), + taxes |
| HDFC Reach & Value Plus Schemes | Up to 2.00% of the loan amount, + taxes |
Minimum Retention Charges:
- 50% of the applicable fee or ₹3,300–₹5,000, whichever is higher.
- Senior Citizens get a 10% discount on service charges.
Additional Charges to Consider
| Service | Fees/Details |
| Late EMI Payment | Up to 18% p.a. on overdue amounts |
| Stamp Duty & Registration | As per state-specific laws |
| Loan Re-Appraisal | ₹3,300 to ₹5,000 based on profile |
| CERSAI / Govt. Charges | As per actuals |
| Third-Party Service Fees | Applicable if using mortgage guarantee companies |
| Loan Foreclosure (floating rate) | No charges for individual borrowers |
Prepayment & Part Payment Rules
- Floating rate loans: No penalty on partial or full prepayment
- Fixed rate loans: Charges may apply (not applicable to most plot loans)
- Foreclosure: Allowed after initial lock-in period without penalty (for individuals on floating rate)
Who Should Apply for an HDFC Plot Loan?
- Individuals who want to buy land now and build later
- Buyers looking for flexibility in design and construction
- Salaried and self-employed professionals with stable income
- First-time home buyers who want to customize their space
How NoBroker Helps You Get HDFC Plot Loan Easily
NoBroker’s role goes beyond property listings as we are always there to help you out in financing your long-desired plot. Here is how we assist you:
- Pre-screening to avoid rejection
- Assist with document collection & validation
- Comparison of loan proposals from different lenders
- From start to finish until disbursal
- All assistance is provided online and brokerage-free
