Readers' Corner: Banking

I want to take a loan for constructing a plot on my ancestral land. Are the lending rates for purchasing a plot on a loan same as for purchasing a ready property? Will the amount of loan be calculated on the value of the land or only my income? Will repayment start only after I finish constructing the house?
 
The rate of interest charged for construction loan could vary for different institutions. The amount calculation depends on both the financial eligibility and property/construction cost. Construction loans are disbursed on a pro-rata basis depending on stage of construction and