Construction Loan
Construction Loan
A Construction Loan from Laxmi India Finance Ltd. (LIFC) is designed to help you build your dream home, develop a commercial property, or undertake major renovations. Whether you are an individual planning to construct a house or a builder working on a real estate project, our construction loans offer tailored financing solutions with flexible repayment options.
With quick approvals and stage-wise disbursals, LIFC ensures a smooth construction process without financial hurdles.
Features & Benefits
High Loan Amount:
Get up to 80% of the estimated construction cost.
Flexible Repayment Tenure:
Loan tenure up to 15 years, based on eligibility.
Stage-Wise Disbursal
Funds are disbursed in phases as per construction progress.
Attractive Interest Rates
Competitive rates based on applicant profile & loan amount.
Quick Processing & Disbursal:
Hassle-free documentation and fast loan approval.
Tax Benefits:
Avail tax benefits under Section 80C and 24(b) of the Income Tax Act.
Balance Transfer Facility:
Transfer your existing construction loan for better terms.
Prepayment & Foreclosure Options:
Repay the loan before tenure with minimal charges.
Eligibility
To apply for a Construction Loan, the following criteria must be met:
Age
- Salaried individuals: 21 – 60 years (at loan maturity).
- Self-employed individuals: 21 – 65 years (at loan maturity).
Employment Type
- Salaried employees, self-employed professionals, and business owners.
Minimum Monthly Income
- Salaried: ₹25,000 per month (varies by city & employer).
- Self-Employed: Minimum annual turnover as per business financials.
Property Ownership
- Applicant should own the land where the construction is planned.
Credit Score
- A minimum CIBIL score of 650+ is preferred.
Documents Required
Identity Proof
Aadhaar Card / PAN Card / Passport / Voter ID
Address Proof:
Aadhaar Card / Utility Bill / Rent Agreement
Income Proof
Last 3 months' salary slips & 6 months’ bank statements
Employment Proof
Offer letter or employment certificate
Property Documents
Sale deed, land ownership proof, construction plan approved by local authority
Loan Requirement Documents:
Loan application form & cost estimate from an architect/engineer
Photographs
2 passport-size photos
Construction Equipment Loan Calculator
Use our Construction Equipment Loan Calculator to estimate your monthly installments based on:
Total Amount Payable:
₹15,85,809
Total Interest Payable:
₹5,85,809
Construction Loan FAQ
Frequently Asked Questions
A construction loan is a short-term loan that helps individuals or builders finance property construction. The loan is disbursed in stages based on construction progress.
Customer Support:
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