Only few banks provide loans for purchase of plot in the rate of Home loan (9.5% to 10%) with the condition of constructing a house with in the period given.
Axis Bank provide home loan for purchase of plot in urban areas, they instruct the customer to start house construction with in one and half years. If the costumer fail to provide document with the period of time given by the bank after issuing a letter, the Loan interest jump to commercial rate. which is 13%-15%.
State Bank of India also provide loan for purchase of a residential plot for salaried and Self Employed with the condition of construction of house (at least foundation) with in 2 years period, if the client fails to start construction with in the period the interest rate will increase upto 15% and the client may be under risk of getting further loan in the future.
For further details visit bank website