If you wish to do farming in the village, then the land purchase scheme is better for you. With this scheme you will get cultivable land. The Land Purchase Scheme (LPS) of the country’s largest bank State Bank of India (SBI Land purchase scheme) is better for removing the tension of the land of the people.
new Delhi. If you are bored with the runaway life of the cities. If you wish to do farming in the village, then the land purchase scheme is better for you. With this scheme you will get cultivable land. Actually people who want to do farming but do not have land. The Land Purchase Scheme (LPS) of the country’s largest bank State Bank of India (SBI Land purchase scheme) is better for removing the tension of their land. In this, you will have to pay only 15 percent amount, the rest 85 percent you will get loan. In this, you are given 7 to 10 years time to repay the loan. After repaying the loan, you will get the ownership of the land.
Purpose of the scheme
The purpose of SBI’s Land Purchase Scheme (LPS) is to help small farmers buy land. Apart from this, land is provided to such people, who do not have arable land. Whoever applies to get this scheme loan should not have any loan outstanding.
Know who can apply?
Farmers who have less than 2.5 acres of irrigated land, can apply under this LPS. With this, those who do not have land can also apply. Those who are applying for a loan should have a better record of repaying the loan.
the Scheme In this scheme, loans up to 85 percent of the total cost can be found. You only have to pay 15 percent. The land will remain in the bank’s name. Later it will be named after you. In land purchase scheme you also get 1 to 2 years of free time. At this time you can make your land arable. If the land is already developed, then SBI gives you a free period of one year. After completing this time period, you will have to fill the half-yearly installment.