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canara bank
  • About Us
    • Board of Director
  • Financial Results
  • PMJDY and Financial Inclusions
  • Press Release
  • Tenders
  • E Auction Properties
  • Announcements
  • Careers
  • Personal Banking canara
    • Savings & Deposits
    • Loan Products
    • Technology Products
    • Mutual Funds
    • Insurance Business
    • International Services
    • Card Services
    • Consultancy Services
    • Depository Services
    • Ancillary Services
    • Approved Housing Projects
    • How To Apply
  • Corporate Banking canara
    • Accounts & Deposits
    • Supply Chain
    • Loans & Advances
    • Syndication Services
    • IPO Monitoring Activity
    • Merchant Banking
    • TUF Schemes
    • Canara eTax
  • Investor Relation canara
    • Contact Us
    • Appeal to Physical Shareholders of Canara Bank
    • Join 20th e-AGM [NEW]
  • Canara Easy Fee
  • NRI Banking canara
    • Deposit Products
    • Loans & Advances
    • Remittance Facilities
    • Investment Facilities
    • Consultancy Services
    • Other Services
    • NRI News Bulletin
    • Contact Details
    • FAQs
    • FATCA / CRS - Self Declaration Form
  • Priority Portal canara
    • Schemes
    • RRB Section
    • Agri-Marketing
    • Agricultural Innovation Centre
    • Rural Development
    • CED for Women
    • Sustainable Development and Corporate Social Responsibility (SD-CSR)
    • Lead Bank
    • In Promotion Of Self Employment
    • RURAL DEVELOPMENT SCHEMES
    • SUPPORT INITIATIVES
    • Agriculture loan Application formats
  • Net Banking
  • MSME Banking
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  • Canara Site Loan
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Got any Questions?
Call us Today!

Toll Free Numbers

1800 425 0018
1800 103 0018
1800 208 3333
1800 3011 3333


Non Toll Free Numbers
(if calling from outside India)

+91-80-22064232

Customers are requested to call on our
mentioned Toll Free Numbers only for any
complaints/issues. Bank shall not be
responsible for any consequences arising
out of customers calling any other
unverified numbers.

Canara Site Loan

Purpose

    Purchase of Residential Sites from State Development/Town Planning Development Authorities or from any other body constituted by the Government for distribution of sites.


    Purchase of Residential Sites from statutory authorities of Central/ State Governments, local authorities either exclusively or in partnership with private sector entities provided such sites /layouts are duly approved by the statutory authority of the State Government and where registrations can be effected.


    The land / plots of Government Development Authorities land such as DDA, HUDA etc. directly from authorities or under second sale. Further the plots in the colonies approved by Govt. Authorities along with approved maps and RERA approved projects.


    To takeover accounts from other banks subject to fulfillment of any of the above existing purposes. Takeover norms as applicable in respect of Retail Loans under Housing Loan and subsequent guidelines if any to be complied. However, as per the Housing Loan take over norms, loans where

Eligibility

  • Customer of the Bank with satisfactory dealings. New customers properly introduced & creditworthy.
  • Age of applicant should  be  less than 60 years.
  • NRIs also eligible.
  • Employees of our Bank are also eligible.

Quantum

  • Four years gross Annual salary/income OR 75% of the cost of the site/guideline value (whichever is less).

MARGIN

  • A minimum margin of 25% shall be stipulated / maintained on the Project Cost consisting of site cost as shown in the allotment letter plus development charges, if any, not exceeding 10% of the site cost supported by documentary evidence.
  • Vacant plots by Government Development Authorities: 30%
  • Other Vacant Plots: 50%

  • NTH:

    (i) For Salaried Class: 40%

    (ii) For Non-Salaried Class: Net Annual Income Adequate to meet the Installments.

Rate of Interest

Click Here..

Repayment Period

  • 10 Years OR maximum period permitted by the allotment agency for construction of house or upto 65 years of the borrower at the time of closure of loan whichever is earlier.

Security

  • Mortgage of the residential site proposed to be purchased. Suitable Co obligation/personal guarantee of adequate networth will be insisted.

Processing Charges

  • 0.5% of Loan Amount Minimum Rs. 1500/- Maximum Rs. 10000/-

Documents / Formalities

  • Application with 2 passport size photographs
  • Layout/site plan issued by the development authorities.
  • Latest 6 months Salary Certificate/Form No.16 for salaried class and latest
  • ITAO for Businessmen/professionals.
  • Legal Scrutiny Report form Bank’s panel Advocate<
  • Allotment letter other any other evidencing purchase/allotment of sites issued by the development authorities.
  • An undertaking should be obtained from the borrower for construction of the house within the stipulated time (as stipulated by the development authorities while allotting or giving possession of sites

EMI Calculator

  • EMI Calculator
Got any Questions?
Call us Today!

Toll Free Numbers

1800 425 0018
1800 103 0018
1800 208 3333
1800 3011 3333


Non Toll Free Numbers
(if calling from outside India)

+91-80-22064232

Customers are requested to call on our
mentioned Toll Free Numbers only for any
complaints/issues. Bank shall not be
responsible for any consequences arising
out of customers calling any other
unverified numbers.
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Last Updated on: 17/05/2022 |   Visitors: 43822        

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