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Maha Super Housing Loan Scheme : Purchase of Plot & construction thereon

S.No

Particulars

Scheme guidelines

1

Purpose

For purchase of plot and construction thereon.

2

Eligibility

Individual salaried employees/ self-employed professionals/Businessman / Agriculturist  

3

Eligible Quantum of Loan

Maximum loan amount will be lowest of loan amount assessed on the basis of 

  • Permissible Deduction norms
  • Maximum permissible LTV ratio
  • Loan amount requested.

4

Loan to value and Margins Norms

For Purchase of Plot: - Minimum 30% of the registered value of the plot.

For construction of House (Overall project cost including value of the plot should be taken for LTV, ensuring separate margin for plot)

Category of Loan (Individual Home Loan amount)

LTV Ratio

Minimum Margin

Up to Rs.30.00 Lakh

90%

10% of value of construction

Above Rs.30.00 Lakhs 

80%

20% of value of construction

 

5

Moratorium Period

For Purchase of Plot – No moratorium period for Plot loan

For construction of House - Maximum of 36 months from date of first disbursement.

However interest may be capitalized for a maximum period of 18 months thereafter Interest to be serviced as and when applied

6

Repayment period

Maximum Repayment period of 30 years or on borrower reaching the age of 75 years whichever is earlier

7

Rate of Interest

Click here to view the Interest Rate

8

Deduction

For salaried individuals.

Up to 75% based on latest monthly income

For Non-Salaried Individuals

​Up to 75% based on average annual income

9

Security

Equitable / Registered Mortgage of Property.

10

Processing Fee

0.25 % of the loan amount (Subject to max. of Rs. 25,000/-)

Full waiver of Processing Fee for Govt. /State /Central Government / Public sector Employees in case of Takeover Loans