Construction Finance Services - DCT Multiservices LLP

Apply for Construction Finance

Start your home construction journey with our comprehensive financing solution. Fill in the details below and our experts will guide you through the process.

Full Name *

Email Address *

Mobile Number *

Employment Type *

Monthly Income (₹) *

Plot Ownership Status *

Plot Area (sq ft) *

Current Plot Value (₹)

Estimated Construction Cost (₹) *

Required Loan Amount (₹) *

Plot Location (City) *

Building Plan Status

Current Construction Stage

Do you have a Co-Applicant?

Additional Information / Construction Details

Key Features & Benefits

Why choose DCT Multiservices for your construction financing needs

Phased Disbursement

Funds released in stages based on construction progress - foundation, plinth, lintel, roof, and finishing. This ensures adequate financing at each phase while maintaining project momentum.

Competitive Interest Rates

Attractive interest rates starting from 8.75% per annum with options for both fixed and floating rates. Choose the plan that best suits your financial strategy.

High Loan-to-Value Ratio

Finance up to 85% of total construction cost including plot value. Minimal down payment requirement makes building your home more affordable and accessible.

Extended Loan Tenure

Flexible repayment period up to 30 years, allowing you to choose EMIs that fit comfortably within your budget without financial strain.

Technical Evaluation

Professional technical team conducts site inspections at each stage to verify construction quality and progress before releasing funds.

Interest Payment Holiday

During construction period, pay only interest on disbursed amount. Full EMI starts after construction completion, easing initial financial burden.

Architect Consultation

Access to empaneled architects and engineers for design consultation, cost estimation, and project planning assistance at preferential rates.

Legal Documentation Support

Complete assistance with plot title verification, building approvals, and legal documentation to ensure smooth and hassle-free construction process.

Top-up Loan Facility

Additional funding available for cost overruns or design modifications during construction, subject to eligibility and property valuation.

Tax Benefits

Enjoy tax deductions on principal under Section 80C and interest payments under Section 24(b) of Income Tax Act, maximizing your savings.

Stage-wise Loan Disbursement

Understanding how and when your construction loan will be disbursed at each construction milestone

Disbursement Process

Construction finance is released in stages based on actual construction progress. Our technical team inspects the site at each stage and certifies completion before releasing the next tranche. This ensures quality construction while providing adequate funding throughout your project.

1 Land Purchase / Plot

Disbursement: Up to 30% of plot value

Initial disbursement covers plot purchase or is calculated based on existing plot value if you already own the land. Requires clear title documentation.

2 Foundation Stage

Disbursement: 15-20% of construction cost

Released upon completion of foundation work including excavation, PCC, and foundation concrete. Technical inspection required.

3 Plinth Level

Disbursement: 15-20% of construction cost

Funds released when construction reaches plinth beam level with DPC and backfilling completed as per approved plans.

4 Lintel Level

Disbursement: 15-20% of construction cost

Disbursed when walls and columns reach lintel level with lintel beams cast. Door and window frames should be in place.

5 Roof / Slab Level

Disbursement: 20-25% of construction cost

Released when roof slab is cast and cured. All structural work including beams and columns should be completed.

6 Finishing Stage

Disbursement: 15-20% of construction cost

Final tranche released after plastering, flooring, electrical, plumbing, doors, windows, and painting work is substantially completed.

Important Disbursement Guidelines

Each stage requires technical inspection and approval
Disbursement happens within 7-10 days of stage verification
Construction must match approved architectural plans
Quality standards must be maintained at each stage

Photographs and inspection reports are mandatory
Construction timeline should be reasonable and realistic
All statutory approvals must be in place
Interest is charged only on disbursed amount

Note on Percentages

The exact disbursement percentages at each stage may vary slightly based on individual lender policies, total project cost, and specific construction requirements. Our team will provide you with a detailed disbursement schedule customized to your project.

Eligibility Criteria for Construction Finance

Understanding eligibility requirements helps you prepare your application and increases approval chances

Applicant Criteria

Age:
Minimum 21 years at application, maximum 65-70 years at loan maturity
Nationality:
Indian citizens and NRIs eligible (NRIs with specific conditions)
Employment:
Salaried employees, self-employed professionals, or businessmen with stable income
Credit Score:
Minimum 700 (higher scores get better terms)

Income Requirements

Minimum Monthly Income:

Metro Cities: ₹35,000 - ₹50,000 for salaried
Tier 2 Cities: ₹25,000 - ₹35,000 for salaried
Self-Employed: Annual income of ₹4-6 lakhs

Income Stability:

Salaried: Minimum 2-3 years work experience
Self-Employed: Business running for 3+ years
Regular income source with growth potential

Plot & Construction Requirements

Plot Criteria:

Clear and marketable title
Located in lender-approved areas
Minimum plot size requirements (varies by location)
No legal disputes or encumbrances
Proper access to main road
Basic infrastructure availability

Construction Approvals:

Approved building plan from local authority
Construction as per sanctioned plan
Completion certificate to be obtained
All necessary permissions in place
Construction must start within 6-12 months
Reasonable completion timeline (usually 24-36 months)

Financial Assessment

Debt-to-Income ratio below 50%
Existing loan obligations considered
Minimum 15-20% own contribution required
Stable bank account with regular transactions
No history of loan defaults or bounced checks
Adequate savings beyond loan down payment

Co-Applicant Benefits

Adding a co-applicant can significantly improve your eligibility:

Combined income increases loan eligibility
Spouse, parents, or children can be co-applicants
Both incomes considered for repayment capacity
Tax benefits available to both applicants
All co-applicants must be plot co-owners

Tips to Improve Eligibility

Maintain good credit score
Close unnecessary credit cards
Clear small loans before applying

Add co-applicant with income
Show additional income sources
Increase down payment if possible

Ensure plot has clear title
Get building plan approved
Choose lender-approved locality

Required Documents

Keep these documents ready for smooth construction finance processing

Identity & Address Proof

Identity Proof (any one):

PAN Card (mandatory for all applicants)
Aadhaar Card
Passport
Voter ID Card
Driving License

Address Proof (any one):

Aadhaar Card
Passport
Utility bills (Electricity/Gas - last 3 months)
Bank statement with address
Registered rent agreement

Income Documents - Salaried

Last 3 months salary slips
Form 16 for last 2-3 years
Last 6 months bank statements (salary account)
Employment certificate or offer letter
Latest ITR with computation
Employee ID card copy

Income Documents - Self Employed

Last 3 years ITR with acknowledgment
Audited financial statements (3 years)
Business bank statements (12 months)
Business registration proof
GST registration and returns
Professional qualification certificates (if applicable)
Business continuity proof

Plot Documents

Original sale deed of the plot
Chain of title documents (last 13 years)
Encumbrance certificate
7/12 extract or land records
Mutation documents
NOC from development authority (if required)
Property tax receipts
Plot location map and survey plan

Construction Related Documents

Approved building plan from local authority
Architect/Engineer certificate
Detailed construction cost estimate
Structural design drawings

Construction commencement certificate
Contractor agreement (if applicable)
Construction timeline/schedule
Building specification details

Additional Documents (if applicable)

Co-applicant documents
Processing fee payment proof
Passport size photographs
Existing loan statements

Gift deed (if funds from family)
Power of attorney (if applicable)
NRI documents (PIO/OCI card, passport)
Foreign bank statements (for NRIs)

Construction progress photos
Previous stage completion certificates
Architect inspection reports
Material purchase bills

Document Submission Guidelines

Submit self-attested photocopies with originals for verification
All documents must be current and valid
Building plan should match actual construction
Ensure plot documents show clear title

Bank statements should reflect regular income
All pages of documents to be submitted
Construction estimates should be realistic
Keep digital copies for quick reference

Frequently Asked Questions

Find answers to common questions about construction finance

Construction finance is specifically designed for building a home on your own plot of land. Unlike regular home loans that disburse the entire amount at once for purchasing ready properties, construction finance is released in stages based on construction progress. You receive funds at different milestones - foundation, plinth, lintel, roof, and finishing stages. During construction, you typically pay only interest on the disbursed amount, with full EMI starting after construction completion. This makes it more flexible and tailored to the building process.

Yes, construction finance is available even if you already own the plot. In fact, owning the plot can sometimes improve your loan eligibility. The existing plot value will be considered as part of your contribution, and you can get financing for the construction cost. The plot should have clear title, proper documentation, and be located in a lender-approved area. Lenders will evaluate the plot's current market value and provide financing accordingly, typically up to 85% of the total project cost (plot value + construction cost).

The approval process typically takes 2-4 weeks from the date of complete documentation submission. The timeline includes document verification, plot title search, legal and technical evaluation, credit assessment, and final sanction. However, this can vary based on the complexity of your case, completeness of documents, and the lender's internal processes. Having all documents ready, clear plot title, and approved building plans can significantly expedite the process. Once approved, the first disbursement can happen within a week.

Yes, most lenders require an approved building plan from the local municipal authority or development authority before sanctioning construction finance. The plan should show all construction details including built-up area, number of floors, room layouts, and specifications. Construction must strictly adhere to this approved plan. If you don't have an approved plan yet, some lenders may give in-principle approval based on the plot documents and estimated construction cost, but full loan sanction will require the approved building plan. We can connect you with architects to help with the plan approval process.

If construction costs exceed your sanctioned loan amount due to price escalation, design changes, or material upgrades, you can apply for a top-up loan subject to eligibility. The lender will reassess the property value, your repayment capacity, and overall loan-to-value ratio. Alternatively, you'll need to arrange the additional funds from your own sources. It's advisable to keep a buffer of 10-15% above estimated costs when planning your budget to account for unforeseen expenses. Always inform the lender about any major changes to the approved construction plan.

During the construction period (typically 18-36 months), you pay only the interest on the disbursed loan amount. This is called Pre-EMI interest. As each stage is funded, your pre-EMI increases accordingly. Once construction is complete and you obtain the completion/occupancy certificate, the loan converts to a regular home loan with full EMI (principal + interest) starting. You can choose to pay pre-EMI monthly or quarterly. Some borrowers opt to pay partial principal during construction to reduce the final loan burden. The regular EMI tenure starts from the construction completion date.

Minor cosmetic changes like interior layouts or finishes are generally acceptable without prior approval. However, major structural changes, addition of floors, change in built-up area, or modifications to the approved plan require lender approval and revised approval from the local authority. Any changes that significantly increase construction cost or alter the property's structure must be communicated to the lender. Unauthorized construction not matching the approved plan can lead to disbursement delays or rejection. It's always best to discuss any planned changes with your lender before proceeding.

Yes, construction finance offers the same tax benefits as regular home loans. Under Section 24(b) of the Income Tax Act, you can claim deduction on interest paid up to ₹2 lakhs per year once construction is complete and you obtain the completion certificate. Under Section 80C, principal repayment up to ₹1.5 lakhs annually is eligible for deduction. Additionally, interest paid during construction (pre-EMI) can be claimed as deduction in five equal installments starting from the year construction is completed. First-time home buyers may get additional ₹50,000 deduction under Section 80EEA subject to conditions.

Construction Finance

Finance Your Home Construction Journey

Apply for Construction Finance

Key Features & Benefits

Phased Disbursement

Competitive Interest Rates

High Loan-to-Value Ratio

Extended Loan Tenure

Technical Evaluation

Interest Payment Holiday

Architect Consultation

Legal Documentation Support

Top-up Loan Facility

Tax Benefits

Stage-wise Loan Disbursement

Disbursement Process

1

Land Purchase / Plot

2

Foundation Stage

3

Plinth Level

4

Lintel Level

5

Roof / Slab Level

6

Finishing Stage

Important Disbursement Guidelines

Note on Percentages

Eligibility Criteria for Construction Finance

Applicant Criteria

Income Requirements

Plot & Construction Requirements

Plot Criteria:

Construction Approvals:

Financial Assessment

Co-Applicant Benefits

Tips to Improve Eligibility

Required Documents

Identity & Address Proof

Income Documents - Salaried

Income Documents - Self Employed

Plot Documents

Construction Related Documents

Additional Documents (if applicable)

Document Submission Guidelines

Frequently Asked Questions

What is construction finance and how does it differ from a regular home loan?

Can I get construction finance if I already own the plot?

How long does it take to get construction finance approved?

Do I need to have an approved building plan before applying?

What happens if construction cost exceeds the sanctioned amount?

What is the repayment structure during and after construction?

Can I make changes to the building plan after loan approval?

Are there tax benefits available on construction finance?

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