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

Owning a home starts with the right foundation—both literally and financially. The Maha Super Housing Loan Scheme by the Bank of Maharashtra provides seamless financial support for anyone looking for a home loan for a plot purchase.

Whether you’re looking to invest in land or begin construction right away, this home loan scheme ensures that your home ownership journey is stress-free and affordable.

Purpose of the Home Loan

This scheme is perfect for those who want a home loan for a plot purchase along with financial assistance for building their home. Instead of applying for separate loans, this scheme simplifies the process by offering a single financing solution for both land acquisition and house construction. With competitive interest rates and flexible repayment terms, the scheme is ideal for first-time home-buyers as well as those upgrading to a larger home.

S.No

Particulars

Scheme guidelines

1

Purpose

For purchase of plot and construction thereon.

2

Eligibility

1. Resident Indian Citizen  2. Non- Resident Indians (NRIs) or Persons of Indian Origin (PIOs) or Overseas Citizens of India 

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 25% of the registered value of the plot or realizable value of Plot  whichever is lower.

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)

Project Cost 
(Realizable value of Plot + Cost of Construction​

Up to Rs.30.00 Lakh

90%

Above Rs.30.00 Lakhs 

80%

Above Rs.75.00 Lakhs 

75%

5

Moratorium Period

For Purchase of Plot – No moratorium period for Plot loan

For construction of House - Maximum of 18 months from date of first disbursement.

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 80% based on latest monthly income

For Non-Salaried Individuals

​Up to 80% 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

11

Inclusion of cost of Solar Photo Lightening System /Rooftop Solar plant

The cost of rooftop Solar Photo Voltaic System / Rooftop Solar plant may be included in the project cost for arriving at the Home Loan eligibility for purchase / Construction / Extension (additional construction) of residential units in respect of all applicants willing to install such system. The cost of consideration will be based upon the quotation received from the authorized dealers/agencies


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Who Can Apply for this Home Loan Scheme?

The Maha Super Housing Loan Scheme is open to a wide range of applicants, ensuring accessibility for:

  • Resident Indians with a stable income.
  • Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), and Overseas Citizens of India (OCIs) who wish to invest in property back home.

Whether you're purchasing a plot for immediate development or planning future construction, the scheme accommodates different financial needs.

Loan Repayment Flexibility

Understanding the financial planning needed for home construction, the scheme provides flexible repayment options:

  • For Plot Purchase: EMI payments begin immediately.
  • For Home Construction: A moratorium period of up to 18 months is available, allowing you to focus on building before beginning repayments.
  • Maximum Tenure: Up to 30 years, ensuring manageable EMIs.

Since home construction takes time, the option of deferred EMIs during the building phase makes this an attractive financing choice for those seeking a home loan for house construction.

Affordable Interest Rates & Low Processing Fees

The Maha Super Housing Loan Scheme comes with attractive interest rates, making it one of the most affordable financing options. The processing fee is just 0.25% of the loan amount, capped at ₹25,000. Additionally, government employees benefit from a full waiver of processing fees when applying for a loan.
Ready to purchase a plot or start construction of your dream home? Our scheme provides funding that is both flexible and affordable to suit your needs.
With easy repayment options, competitive interest rates, and financial support tailored for both land acquisition and construction, this loan is the perfect solution for those looking to build their future.
Secure your home financing today and take the first step toward homeownership!