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Home Construction Loan

If you plan to construct your home and want to know about available financing options, you’ve come to the right place.

Apart from planning design aspects of your home, it is also important to plan your finances in advance. With a home construction loan, you will be able to fund the construction process and build the home of your dreams. We, at Aadhar Housing Finance, understand the intricacies involved in constructing a home and have, therefore, made the home construction loan process simple.

If you have been looking for financial support to construct your home, you can avail of a construction loan up to ₹1 Crore with Aadhar Housing Finance. However, the loan amount cannot exceed 80% of the construction cost or 80% of market value of property (75% in case the loan amount exceeds ₹75 Lakh), whichever is lower.

It is necessary for the construction to be carried on a piece of land which the applicant owns. After availing of the home construction loan, the entire construction process has to be completed within a particular period of time according to the NHB guidelines. The loan amount that will be disbursed to you will be determined after assessing certain factors such as your repayment capacity, income, age etc.

Here is a list of factors that are considered while assessing the loan amount to be offered:
  • Age
  • Stability of income
  • Continuity of income
  • Number of dependents in the family
  • Income of the co-applicant
  • Assets
  • Liabilities
  • Educational background
  • Saving habits, and others
  • Available Bank Balance for past 6 months

If you want to understand your eligibility for a home construction loan, you can use our loan eligibility calculator.

Maximum loan tenure for Bank-Salaried is 30 years. For Cash-Salaried and Self Employed Professional / Self Employed Non-Professional, the maximum tenure is 20 years subject to retirement age for salaried and 70 years of age for self employed on loan maturity.

Depending on several parameters such as tenure of the loan, the quantum of the loan, and the interest rate offered, your monthly EMI amount will vary. If you would like to understand how much EMI is to be paid so that you can plan your finances in advance, you can use our EMI calculator.

You can apply for a home construction loan individually or jointly with inclusion of income of a co-applicant. Your co-applicant can be your spouse, parents, or children*. While choosing a co-applicant, remember that it is not necessary for the co-applicant to own a part of the property. However, all the owners of the property have to be co-applicants.

To apply for a home construction loan, navigate to the "Apply for Loan" button and enter the requested details. Within a short while, an Aadhar representative will contact you. You also have the option to visit the nearest Aadhar Housing Finance branch to apply or to know more about home construction loans. To get a comprehensive list of Aadhar Housing Finance branches, please Click here.

For list of required documents, please Click here.

*Terms & Conditions apply. Credit is to be extended at the sole discretion of Aadhar Housing Finance Ltd.

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