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Getting a land purchasing loan can be a bit difficult as there is no collateral involved, but it is not impossible. But there are few things that you need to take care of for a land loan. These are important because it makes your work easier and does not pose difficulties after you get the approval of the loan. Also, getting more knowledge about anything can never be harmful. You first need to go for a location which is suitable for you. Like it should have basic utility facilities, useable public access, and future development plans, etc. It saves your time and money on later expenses. The next would be to have a definite plan of what are you buying the land for. The building which requires only some improvements, getting a loan for them is less tricky. Down payments for them are also not very high in comparison to other types of land loans. Land purchasing loans for the speculative purpose may gain you profit soon, but at present, availing them can be a huge cost incurring. The next...

Land loan is a good choice to finance your land purchase. However, the amount of loan will be decided by the bank before sanctioning the amount. The maximum loan-to-value ratio in the case of land loan is around 70%. Banks approve the land loan only after proper verification and scrutiny of all documents and the land you want to purchase.  Here is the list of documents required: 1. Original land ownership documents 2. Detailed sketch of plot location approved by the municipality. 3. Revenue receipts and land records, which has been paid by the previous owner. 4. Tax receipts 5. Original sale deed with index II. 6. Copy of property’s registration card on the name of the borrower 7. Search and Title reports of the land in detail in the last 30 days. ‘ 8. Order certificate’s copy, which is issued by the Urban Land Ceiling Act. 9. Building Permission copy issued by the Local Corporation 10. Cost of construction which is estimated by the certified architect. Other documen...