Documents Required to Apply for Loan Against Agricultural Land
- Duly-filled application form.
- One valid identity proof like your PAN Card, Aadhaar Card, or Passport.
- One valid proof of residence like Aadhaar Card, Passport, or Utility Bills.
- Land documents like registration document, taxes paid, and utility bills.
Simply so, can I get a loan against my land?
While it’s possible to borrow against vacant land, it’s usually not easy. Banks like to make loans against collateral that not only has value, but can be easily converted into cash for them. Given this challenge, you may need to look at a different lender than the one you’d otherwise use for most types of loans.
Also question is, can salaried person buy agricultural land?
The Karnataka Land Reforms Act now does not allow non-agriculturists whose income is more than Rs 2 lakh per annum to buy farm land. Any person who does not own agricultural land in Karnataka is a non-agriculturist.
Does Bank give loan on land?
Loan for land purchase is offered by banks when you need financing to buy a plot or a piece of land. This loan is generally provided for residential purposes and in urban areas. However, some banks do let you use the loan amount to purchase land in a rural area.
How can I buy agricultural land from the government?
Legal tips for buying agricultural land in India
- Title deed of the land plot.
- Agreement for sale.
- Stamp duty on the land.
- Registration of the land.
- Conveyance deed or sale deed of the land.
- Tax receipt and bills.
- Encumbrance certificate.
- Measuring the land.
How much loan can I get for agricultural land?
Maximum limit and Margin:
Maximum amount of loan is restricted to 3 times of his present annual income from agricultural land and other certified/approved source or 75% of the purchase value or valuation of the land whichever is less. The maximum amount of loan is Rs. 40 lakh.
Which bank gives long term loan to farmers?
Long Term Loans
NABARD provides Long Term and Medium Term Refinance to banks for providing adequate credit to farmers and rural artisans etc. for their investment activities.
Which bank provides loans to the agricultural sector?
Providers of Agricultural Loan
| Name of the Lender | Major Types of Agricultural Loans Offered |
|---|---|
| Axis Bank | Kisan Power Kisan Matsya Kisan Mitra AGPRO Power |
| National Bank or Agriculture and Rural Development (NABARD) | Agriclinic and Agribusiness Centres Scheme National Livestock Mission New Agricultural Marketing Infrastructure |