We exclusively provide mortgage loans against vacant land from Rs.1 Crore to 100 Crores in all major cities of India. Our professional approach and good placement in the industry make us pioneers in providing loans against vacant lands.
Vacant lands are often purchased as a long-term investment with surplus money, the value of which grows with time and ensures a good return to its owner. This investment helps the owner during times of liquidity crunch or when money is required for special purposes like business expansion or family marriage. This investment can be monetized in two ways first, by selling the land parcel at the time of financial requirement, and second, by taking a loan on the vacant land. The second option taking a loan on the land is much better as the property remains in the ownership of the borrower and he also gets the money required during those times.
What is a Mortgage Loan Against Vacant Land?
A mortgage loan against vacant land is a kind of secured loan through which the borrower raises money on an additional asset that is currently not in use and this vacant land itself is used as collateral for the new funding.
This type of loan can be beneficial if you wish to unlock the value of your land without having to sell it. The borrower can use the loan for personal or business expenses while still holding onto your property for potential future development or appreciation.
This mortgage loan against vacant land can be taken on the following types of land:
- Residential Land
- Commercial Land
- Industrial Land
Agriculture lands are not eligible for this type of loan.
Key Features of Mortgage Loans against Vacant Land
- A loan of 50% is provided against the market value of the land
- Loans available throughout the Indian cities
- Loan starts from Rs.1 Crore to 100 Crores
- Vacant land works as collateral to the lender
- Easy & Fast onset of the process
- Online submission of documents
- Borrowers with credit issues can also apply
Why Choose a Mortgage Loan Against Vacant Land?
- Leverage the Value of Your Property: Generally, vacant lands are purchased as an investment tool, so they are in the use of the owners. This loan generates funds from this additional asset which is not in current usage and also without hampering the day-to-day living of the borrower.
- Flexibility to Enjoy Funds: The loan raised can be used for any purpose from personal to business use. Whether funds are required for working capital in a business or for education to the marriage of the child.
- Longer Repayment Tenor: As this loan is secured against the property, so lenders offer longer repayment tenors in the loans secured by the property.
- No Immediate Need to Sell: This will be one of the biggest advantages of taking out a mortgage loan against vacant land is that you don’t have to sell the land to access cash. This allows you to retain ownership of the land while still meeting your financial needs.
Eligibility Criteria for Mortgage Loan Against Vacant Land
- Must be an Indian citizen
- Must be under the age group of 25 years to 60 years
- Must have a stable income from the last few years
- People with good business set-ups are given preferences
- Last two years’ balance sheets are required
- Borrowers with rental income are also eligible
- Vacant land owned in personal or company-owned
