Yes, you can get a home loan not just for building a new house, but also for renovating or extending your current one. These are called ‘Home Extension Loans’ or ‘Home Improvement Loans’. For example, you can use this loan to build a new floor, add an extra room, or modernise your kitchen. A private bank’s research report says the number of people taking Home Extension Loans has increased by 15% in the last five years. You can get a loan from one lakh rupees to several lakhs. This is a fantastic chance to meet your housing needs without any stress.
