Finance

# Get the Right LTV for Your Land Using Hectare to Cent Conversion

The loan to value (LTV) ratio is the maximum percentage of a property’s present market value that the lending institutions sanction as a loan. So, to get a maximum loan amount against an individual’s land, they must mention its area correctly in the appropriate unit. There may be some lender who does not accept hectare as a land area unit. They may insist their borrowers mention plot area in the cent. So, individuals need to know ways to convert units of their plot areas from hectare to cent. This can significantly help them get the right LTV against their estates.

## Land conversion from hectare to cent

Before knowing how to convert land area units from hectare to cent, individuals first have a basic idea about these two units. A hectare is one of the conventional units of India. It is also commonly expressed as ‘ha’. On the other hand, cent is also a traditional Indian land measuring unit. This unit is common in south Indian states like Tamil Nadu, Kerala, Karnataka. One cent is generally 1/100th area of an acre.

Nevertheless, to convert the area unit from hectare to cent, individuals need to know the relation between these two units. 1-hectare area is equivalent to a piece of land having an area of 247.157687 cent. So, for hectare to cent conversion, individuals need to multiply 247.157687 with the land area measured in the hectare.

Individuals can better understand this phenomenon properly with examples. Let’s assume an intending borrower has a plot with a 2000 hectare area to be mortgaged to get a property loan. The individual must multiply 2000 with 247.157687 to convert the area unit into cent. Here the result of this calculation is 4943153.732081. So, he or she can inform the lender that the estate’s area is 4943153.732081 or 4943153.7 cents.

However, it is discernible that individuals may need to involve in a lengthy calculation process to convert this land area unit. To ease this process, they can use a land unit conversion calculator. It will reduce the time for calculation and scope of errors. First, however, they need to know how to use this virtual calculator.

Along with proper document submission, individuals must submit accurate land measurements to avail a loan against property. The lenders will verify both the documents and the measurement of land. Thus, individuals must know how to correctly convert sq metres to sq feet.

Individuals must remember that a loan against property is a long term commitment. Thus, payments of EMIs become a part of it too. However, a shorter loan tenor would mean greater EMI amounts and decrease the principal amount. Therefore, before availing a loan, individuals must determine the idea tenor of their loan against property.

### Procedures to convert hectare in cent using an online calculator

Individuals need to follow the stepwise guideline to change the land area unit using an area conversion calculator:

• Find out the concerned calculator from the website of any lending institution
• Mention the input unit as hectare and output unit as cent
• Enter the area of the plot in the right box

After completing these three simple steps, individuals can see the land area unit in cent.

### Benefits of online area conversion tools

• It reduces the chances of factual errors or mistakes
• It reduces the time taken to calculate it manually
• It is free to use and is available on the websites of all lending websites

Apart from availing a loan against property for the purpose of buying a home, it can be used for multiple financial needs. For example, individuals can avail it for their children’s higher education. There are a few things that individuals need to apply for a loan against property for education.

A few perusers might be very knowledgeable in changing over bigha to different units with regards to region transformation. In any case, they should take note of that neighborhood could fluctuate. Some high level bigha to section of land number crunchers give a change liberated from cost.

Apart from providing home loans and loans against property, lending institutions offer pre-approved offers to their customers. This makes loan processing easy and quick. Borrowers can enter their names and contact numbers on the lender’s websites to check their pre-approved offers.

The region that is normally canvassed in a bigha typically contrasts starting with one spot then onto the next. As square foot is the most generally involved unit for land estimation in India, we will utilize it to give an unmistakable thought on the boundlessness of a bigha in our table underneath. Region transformation mini-computer can likewise assist you with changing a unit of region over completely to another.

Thus, utilising this online area conversion calculator, individuals can get the error-free land unit conversion from hectare to cent. This way, they can correctly inform the lender about the area of their mortgaged properties. It will help them with the exact LTV evaluation on that particular piece of land to avail LAP. Apart from this, there are several aspects of loan against property that individuals must understand while seeking this credit advance.

This would substantially help them plan a financial budget and help them manage a sustainable life.

Furthermore, individuals should know the benefits of using online area conversion tools.

A LAP can be significantly beneficial for individuals as they can use the credit amount to meet any financial requirements. Furthermore, the interest rate is also lower in this type of credit advance. However, individuals must be aware of several charges applicable on a loan against property to stay cautious.

Apart from this, individuals can leverage pre-approved offers provided by lenders on financial products like home loans and loans against property. This way, they can quicken their loan application processes. They can check their pre-approved offers only by mentioning their credentials like names and contact information.

In conclusion, individuals must properly convert their land area before mentioning property details to lenders. An incorrect land area conversion may result in the improper appraising of that plot’s market value. To avoid this unnecessary circumstance, individuals can utilise the area conversion calculator to correctly change the land area unit from hectare to cent.