Is there any bank in India that gives Home Loan on agricultural/farm land in Gram Panchayat layout ?

I stay in Hyderabad and I would like to buy a plot in the outskirts which is a farm land. Assuming this agriculture land cannot be converted to residential land, can I still avail home loan and get tax benefits? It falls in gram panchayat layout and is not HUDA approved. Pls let me know which bank I can approach.

No bank will finance you for un authorized houses constructed on a illegal layout. If it is outside of HUDA area, then Grama Panchayat layout are valid. But if the land conversion is not passable (like in Shamshabad area - Green built area - bio zone area), then no bank will finance it.

But if any one finance it, weather it is a legal house or illegal house, then you can avail income tax benefits. The Income Tax department will give benefits on any house let it be in Delhi or in a small village.

No Bank or financial institution will provide you with loan to buy land (agricultural or otherwise).

You need to buy the land with your own funds (which may be borrowed from friends / relatives).

Any nationalised bank, HUDCO etc will provide you with financial assistance against this land for development.

Against agricultural land you cannot avail home loans. You will first have to get it converted. After that if you want home loans to construct a home over it funding will be provided by banks.

regards,

CMA. Devarajan