Privacy Notice

1. Introduction

Tata Steel Limited (“TSL”, “we”, “us”) is collecting and processing your personal data in connection with your registration as an architect/contractor/engineer/firm (“ACE”) on our platforms.

Uniform practices for collecting, using, disclosing, storing, retaining, disposing, accessing, transferring or otherwise processing such information assists TSL to process Personal Information fairly and appropriately, disclosing it and/or transferring it only under appropriate circumstances. This privacy notice relates to our use of any personal information we collect from you for providing related services.

2. Purpose

Your personal data will be collected and processed for the following purposes:

  • 󠁯•󠁏 Registration and onboarding on TSL platforms
  • 󠁯•󠁏 Conducting your background verification checks
  • •󠁏 Hosting of your profile on the relevant TSL platform
  • •󠁏 Facilitating platform-based engagement, including interaction with customers and other stakeholders
  • •󠁏 Displaying of your profile on TSL platform
  • •󠁏 Any activities incidental or reasonably necessary to the above purposes

3. Applicability

This notice applies to TSL India.

4. Collection and use of information

This Data Privacy Notice describes the information that TSL collects about you; how we use and protect this information; and the choices you can make about how we use this information.

Information we collect

To manage the activities on Aashiyana portal, TSL may collect, process or store personal data relating to you as declared by you, including but not limited to personal data such as:

  • •󠁏 Name
  • •󠁏 Address
  • •󠁏 Phone number
  • •󠁏 Photographs
  • •󠁏 Information of projects executed by you (inclusive of pictures)
  • •󠁏 Location
  • •󠁏 Email address
  • •󠁏 Architect Registration Certificate (if applicable)
  • •󠁏 Company Reg. Certificate (if applicable)
  • •󠁏 Licensed Building surveyor (if applicable)
  • •󠁏 Trade License (if applicable)
  • •󠁏 GST
  • •󠁏 Aadhaar Number
  • •󠁏 Pan Card
  • •󠁏 Educational Certificate (eg: Diploma / B.Arch / B.Tech / ITI)

TSL has implemented organizational, physical and technical safeguards designed to protect your personal information from unauthorized access, use or disclosure.

How We Use This Information

TSL may use the information that we collect in a variety of ways in providing the service and operating our business, including (but not limited to) the following:

Operations: We may use the information provided by you to operate, maintain, enhance, and provide all features of the service, to provide the services and information that you request, to respond to comments and questions and to provide support to users of the service.

Improvements: We may use the information provided by you to understand the usage trends and preferences to improve the services, and to develop new services, features and functionality.

Obtain Third Party Services: We may also share Personal Information and other information with authorized third parties, including Handy Online Solutions Private Limited / Ongrid, where applicable, for the purpose of providing background verification services to TSL. We may also share such information with other authorised third-parties for website management services, information technology and related infrastructure provision, customer service, e-mail delivery, auditing, and other similar services.

Certain third parties may also contact you directly for the purpose of fulfilling the specific services required by TSL. This includes video call by our authorized third parties for purpose of background verification (specifically for address verification).

When TSL shares Personal Information with third party service providers, we require that they use your Personal Information and Other Information only for the purpose of providing services to us and subject to terms consistent with this Notice.

Communications: We may use the email address and mobile number provided by you to communicate with you using emails, SMS, VOIP Calls, PSTN network calls and WhatsApp for: (i) for administrative purposes such as customer service, right of privacy violations or defamation issues related to personal data posted on the service or regarding any services offered by us and by third parties we work with.

Publishing on website: We may publish or display the details of your profile (such as name, photo, location, professional details, credentials or work experience) on relevant TSL platforms, websites or associated interfaces, to enable customers or other users to identify and engage with you (where applicable).

You understand that such information may be accessible also to the general public and may be viewed, copied, downloaded, indexed by search engines or otherwise used by third parties beyond TSL’s direct control.

5. Fairness and Purpose

TSL will collect adequate, relevant and necessary Personal Information, and will process such information fairly and lawfully for the purpose it is collected. The purpose of collection will be specified not later than at the time of data collection, or on each occasion of change of purpose.

6. Accuracy of information

The information held by TSL on its applications shall be checked with you from time to time to ensure that it remains up-to-date.

7. Distribution of Information

7.1 Information Disclosure

TSL does not share, sell, rent, or trade personal information collected through its applications with third parties for their sole promotional purposes or as otherwise outlined in this Privacy Notice. TSL may share information with third party service providers contracted to provide services on our behalf for processing to provide you services and benefits and other business purposes. These third party service providers may only use information we provide to them as requested and instructed by TSL.

i. TSL may disclose your Personal Information as we believe to be necessary or appropriate:

a) under applicable law, including laws outside your country of residence;

b) to comply with legal process;

c) to respond to requests from public and government authorities, including public and government authorities outside your country of residence, for national security and/or law enforcement purposes;

d) to enforce our terms and conditions; and

e) to allow us to pursue available remedies or limit the damages that we may sustain.

ii. Additionally, in the event of a reorganization, merger, sale, joint venture, assignment, transfer or other disposition of all or any portion of our business, assets or stock (including in connection with any bankruptcy or similar proceedings), we may transfer the Personal Information we have collected to the relevant third party.

iii. We may share information with governmental agencies or other companies assisting us in fraud prevention or investigation. We may do so when:

a) permitted or required by law; or,

b) trying to protect against or prevent actual or potential fraud or unauthorized transactions; or,

c) Investigating fraud which has already taken place. The information is not provided to these companies for marketing purposes.

If TSL goes through a business transition, such as a merger, acquisition by another company, or sale of all or a portion of its assets, your personal information collected through our website(s) may be among the assets transferred. A prominent notice will appear on our website(s) after any such change in ownership or control of your personal information along with the Privacy Policy and Notice.

7.2 Cross-Border Data Transfers

When conducting business, working on internal projects, or implementing new processes or systems, an operation may require the transfer of personal information to other entities or third parties that are located outside of the TSL operation’s country of business. While permissible data transfer mechanisms are defined by applicable law or regulation, examples include:

  • a data transfer agreement with the party who will access or obtain the personal information;
  • notice to and/or approval from a country’s local data protection authority; or
  • Notice to and/or consent from the data subjects whose data is to be transferred.

8. Consent and Control

8.1 Consent

Consent is often referred to as an individual’s choice to “opt-in” or “opt-out” of the Company’s use of personal information and is usually obtained by a “check box” or signature confirming the individual understands and agrees to the processing of their personal information. At times, express written consent from the individual may be required based on the information processing activity.

8.2 Control of your information

TSL also provides individuals with the right to control their personal information, which includes the right to access, modify, erase, restrict, transmit, or object to certain uses of their information and for withdrawal of earlier given consent to the notice.

You may request to review, correct, update, suppress, or otherwise modify any of your Personal Information that you have previously provided to us through any of our applications, or object to the use or processing of such Personal Information by us. You have the ability to update your profile and related Personal Information by contacting regular mail addressed to privacy.governance@tatasteel.com.

If you have privacy concerns regarding access to or the correction of your Personal Information, please contact us at privacy.governance@tatasteel.com.

9. Data Storage

Your personal information is stored on our applications which may be accessible by third party vendors (wherever applicable). For further information on data storage please contact us at privacy.governance@tatasteel.com

10. Commitment to data security

Your personally identifiable information is kept secure. Only authorized employees, business partners, clients, vendors and other third-party providers (who have agreed to keep information secure and confidential) have access to this information.

Use of cookies

We and our partners use various technologies to collect and store information when you visit TSL’s applications, and this may include using cookies or similar technologies to identify your browser or device. We also use these technologies to collect and store information when you interact with services we offer to our partners. You can configure your browser to refuse cookies, or to warn you before a cookie is placed. If you disable cookies, some parts of our websites may not function properly or at all.

11. Retention and Disposal

You have the right to access, modify, erase, restrict, transmit, or object to certain uses of your information.

We will retain your personal information for as long as your account is active or as long as needed to provide relevant services or for as long as required under applicable law, contractual compliance or other legitimate requirements. If you wish to cancel your account or request that we no longer use your information to provide you services, contact us at privacy.governance@tatasteel.com. We will respond to your request to access or delete your information (except where required under law) within reasonable time.

12. Your Consent

I confirm that:

  • • I have read and understood and hereby consent to this Privacy Notice and TSL Privacy Policy access it here - https://www.tatasteel.com/privacy-policy/
  • •󠁏 I voluntarily consent to the processing of my personal data for the purposes stated above
  • •󠁏 I voluntarily consent to the processing of my personal data for the purposes of onboarding, registration and profile creation on TSL platforms including Aashiyana
  • •󠁏 I voluntarily consent to Tata Steel limited sharing my personal data and documents with authorised background verification agencies, including Handy Online Solutions Private Limited / Ongrid, for background verification.
  • •󠁏 I voluntarily consent to TSL publishing/displaying my profile and contact details on TSL/Aashiyana platforms and making them available to customers/users.
  • •󠁏 I voluntarily consent to receiving communications through email, SMS, VOIP calls, and WhatsApp for onboarding, verification, customer-connect, support and service-related purposes.
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    Home loan vs construction loan: Making the right choice

    • Pre Construction Finance Arrangements
    21 Oct 2025 5 mins

    |

     

    Introduction

    Navigate the choice between home loans and construction loans with our comprehensive comparison guide. Understand key differences in eligibility, interest rates, disbursement patterns, and repayment options. Learn which loan type suits your specific needs, whether you're buying a ready property or building your dream home from scratch.

     

     

    In this article

    Making The Big Decision: Home Loan or Construction Loan?

    Home put on the stack gold coin and tower crane and hoist brake solution transporting the money with build the house put on the wood, Saving money and loan for construction real estate concept.

     

    Picture this: you're finally ready to turn your dream home into reality, but here comes the first big decision – should you go for a ready property with a home loan, or build from scratch with a construction loan? It's a choice many families grapple with, and there's no one-size-fits-all answer. The Kumar family in Meerut spent weeks debating this very question – while a ready flat meant moving in sooner, building their own home promised customization and potentially lower costs. Their journey, like many others, shows that understanding the nuances of both options is crucial for making the right choice.

     

    Let's break down these two popular financing routes, compare their features side by side, and help you figure out which path best leads to your dream home.

     

     

    Quick Comparison: At a Glance

    Home office. Concentrated young lady of indian ethnicity sitting at desk in modern studio apartment engaged in paperwork. Hindu woman counting preparing to pay taxes bills using computer calculator

     

    FeatureHome LoanConstruction Loan

    Purpose

    Purchase ready property

    Build new house on owned land

    Disbursement

    One-time, full amount

    Stage-wise, based on construction progress

    Interest Rates

    Generally lower (8-9%)

    Slightly higher (8.5-10%)

    Processing Time

    7-14 days

    14-21 days

    Loan Tenure

    Up to 30 years

    Usually up to 20 years

    Documentation

    Standard property papers

    Construction plans + approvals needed

    1. Eligibility Criteria: Who Can Apply?

    Business concept about loan Eligibility with inscription on the page.

     

    CriteriaHome LoanConstruction Loan

    Age

    21-65 years

    21-65 years

    Income Requirement

    Lower (3x EMI)

    Higher (4x EMI)

    Credit Score

    Minimum 650

    Minimum 700

    Property Papers

    Sale deed/agreement

    Land ownership + building approvals

    Employment Status

    2 years stable income

    3 years stable income

    Down Payment

    10-20%

    20-25%

    Priya from Bangalore found that combining her spouse's income helped her qualify for a construction loan despite having a moderate individual income.

    Pro Tip:

    2. Interest Rates and Charges

    Magnifying glass and stack of wood cubes with percentage icon

     

    ComponentHome LoanConstruction Loan

    Interest Type

    Fixed/Floating

    Usually Floating

    Processing Fee

    0.5-1%

    1-1.5%

    Technical Evaluation

    One-time

    Multiple stages

    Pre-closure Charges

    0-2%

    0-3%

    Insurance Requirements

    Basic property insurance

    Construction + property insurance

    The Sharma family saved ₹3 lakhs by opting for a home loan over a construction loan for their 3-BHK apartment, thanks to lower interest rates and one-time processing fees.

    Real Example:

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    3. Disbursement Process

    Home Loan:

    • Single disbursement to seller
    • Quick fund transfer
    • Immediate EMI start
    • Full property mortgage

     

    Construction Loan:

    1. Foundation stage: 20%
    2. Plinth level: 25%
    3. Roof level: 30%
    4. Finishing: 25%

     

     

    4. Documentation Requirements

    An eastern millennial couple casually engages in a discussion over paperwork with a laptop in the serene atmosphere of their home

     

    Document TypeHome LoanConstruction Loan

    Identity Proof

    ✓

    ✓

    Income Proof

    ✓

    ✓

    Property Papers

    Sale deed

    Land deed

    Additional Papers

    NOC from society

    Building plan approval

    Bank Statements

    6 months

    12 months

    Project Reports

    Not needed

    Detailed construction plan

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    5. Advantages and Limitations

    Home Loan Advantages:

    • Simpler process
    • Lower interest rates
    • Immediate possession
    • Fixed property value

     

    Home Loan Limitations:

    • Limited to ready properties
    • Higher upfront payment
    • Less flexibility in customization

     

    Construction Loan Advantages:

    • Build as per preference
    • Stage-wise fund requirement
    • Better cost control
    • Customization freedom

     

    Construction Loan Limitations:

    • Complex documentation
    • Higher interest rates
    • Construction risks
    • Longer timeline

     

    Choose Home Loan If:

    • You want a ready-to-move property
    • You prefer a simpler loan process
    • You need immediate accommodation
    • You have limited construction knowledge

     

    Choose Construction Loan If:

    • You own a plot
    • You want customized construction
    • You can manage construction
    • You prefer staged payments

     

     

    6. Decision Matrix

    Real estate investment concept. Buy, own, and sell properties for profit. Cash flow, appreciation, tax advantages. Buy and sell houses and real estate online on a virtual screen. real estate market

     

    FactorChoose Home LoanChoose Construction Loan

    Timeline

    Need house immediately

    Can wait 1-2 years

    Budget

    Fixed budget

    Flexible budget

    Property Type

    Ready property

    Custom design

    Risk Appetite

    Low

    Medium to High

    Technical Knowledge

    Basic

    Advanced

    7. Smart Tips for Success

    For Home Loans:

    • Compare multiple lender offers
    • Check for hidden charges
    • Verify property papers thoroughly
    • Negotiate interest rates
    • Plan for immediate EMIs

     

    For Construction Loans:

    • Have detailed construction plans
    • Keep margin money ready
    • Plan for cost escalation
    • Choose reliable contractor
    • Maintain construction timeline

     

    Real Success Story

    When Rahul in Indore was deciding between loans, he created a detailed cost comparison:

     

    Expense TypeHome LoanConstruction Loan

    Total Cost

    ₹80 lakhs

    ₹70 lakhs

    Interest Cost

    ₹52 lakhs

    ₹48 lakhs

    Processing Cost

    ₹65,000

    ₹95,000

    Timeline

    2 months

    18 months

    Final Decision

    ✓

    		 

    His analysis showed that while construction loan offered lower total costs, the extended timeline and complexity made home loan a better choice for his situation.

     

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    Add to cart
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    In conclusion

     

    Your choice between a home loan and a construction loan should align with your:

    • Financial readiness

    • Technical expertise

    • Timeline requirements

    • Risk tolerance

    • Personal preferences

     

    Remember:

    1. Both loans have their unique advantages

    2. Consider all costs, not just interest rates

    3. Factor in your personal situation

    4. Consult professionals before deciding

    5. Keep documentation ready for smooth processing

     

    The right choice depends on your specific circumstances. Take time to evaluate all factors, and don't hesitate to seek professional advice for this significant financial decision.

    Ready to start building?

    Explore Tata Aashiyana's range of products for all your home design needs.

     

    Shop now

     

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