There is a difference between a loan for land purchase and a home loan. A home loan is available for a  property already existing, under construction, or likely to be constructed soon. A land loan is taken to finance the purchase of a vacant plot. 

For What Types Of Land Can A Loan Be Availed? 

You will get a land loan only on a residential plot.  

Where Should The Property Be Located?  

Unlike home loans which are available on all properties regardless of their location, for a land loan, the property should be within municipal or corporation limits. Thus, you cannot obtain funding for buying a piece of land in a village or for purchasing agricultural land. But, you can take a home loan for building your house in that piece of land. 

Do You Have Tax Benefits On A Land Loan? 

A housing loan is eligible for tax benefits both on the principal and interest payable. But, a land loan does not come with any such benefits. 

What is the loan to value you can get for a loan for land purchase? 

For a loan for land purchase, the maximum loan to value you can get is 70% of the plot value at best.