Primary source: TIIC — Interest Rates – Loans and Advances (card PDF); Revision in lending Rate w.e.f. 01.07.2026 · Dated 24 Oct 2026. Rates, schemes and circulars change — verify on the official page before you act.
Primary sources (as of 24 Oct 2026):
- TIIC Interest Rates – Loans and Advances (card PDF) — base lending rate (PLR) 9.95%; estate-land purchase scheme (III) for land in TIDCO, SIDCO and SIPCOT estates 10.95%.
- TIIC Revision in lending Rate — from 1 July 2026 (extra papers PDF) — base rate 9.95%; for new III loans, rate linked to base rate + 1%; existing III loans stay unchanged.
- TIIC home page notice (checked 24 Oct 2026): prime lending rate cut from 10.95% to 9.95% from 1 July 2026, linking the Interest-rate card.
- Related guide (procedure, not pricing): SIPCOT mortgage NOC checklist.
Direct answer
If you are buying land in a TIDCO, SIDCO or SIPCOT estate and TIIC’s estate-land purchase scheme (Industrial Infrastructure Initiative, or III) is the product on offer, TIIC’s published card rate for that line is 10.95% — one percentage point above TIIC’s prime lending rate (PLR) of 9.95%.
Who that 10.95% is for: new III loans under the live card. If you already have a III loan, the July 2026 revision leaves existing III rates unchanged — check your sanction letter and any applicable reset terms; do not assume your loan moves to 10.95%.
If you already hold the leasehold plot (and usually the building) and a bank or non-bank lender is pricing a ₹5 crore+ property loan against that security, that quote is not TIIC’s base rate. Buying the plot and borrowing against a plot you already hold are two different purposes. Compare purpose, all-in cost, security path and timeline — not the card headline alone.
A published card rate is not the bank’s final letter. This page does not quote any bank’s interest rate for a SIPCOT industrial property loan.
What TIIC’s card says (cited figures)
From the Interest Rates card (as of 24 Oct 2026):
| Line | Purpose / fit (as published) | Card rate |
|---|---|---|
| Prime lending rate (PLR) | TIIC’s reference rate on the card | 9.95% |
| Estate-land purchase scheme (III) | Land purchase in TIDCO, SIDCO & SIPCOT estates — card label “All Eligible” (TIIC still decides who qualifies) | 10.95% (base + 1%) |
| General Scheme | Land, building, machinery — existing customer; TIIC’s “standard asset” loan-account class for the preceding 36 months (confirm eligibility with TIIC) | 9.95% |
| General Scheme | Existing non-customer — highest external credit rating | 9.95% |
| General Scheme | Existing non-customer — others / new entrepreneur | 10.20% |
| Loans ₹10 crore & above | Land, building, machinery — excluding NBFCs, III and bill finance | 9.95% |
These rows are not a shopping menu. Other TIIC schemes have different eligibility conditions and rates; a lower published rate is not automatically available for your estate-land purchase. Ask TIIC which scheme name will sit on your sanction.
From the revision extra papers (from 1 July 2026):
- Prime lending rate set at 9.95%.
- For new III loans: rate linked to base rate + 1% (10.95% on the live card).
- Existing III loans: the July 2026 revision leaves their rates unchanged — check your sanction letter and any applicable reset terms.
- For new ₹10 crore+ loans: linked to the prime lending rate except NBFCs, III and bill finance.
- Interest is charged on a monthly basis; on default, extra interest of 2.50% a year can apply on the unpaid amount for the unpaid period (extra papers notes).
We do not claim on this page whether a second or later sale of a SIPCOT plot sits under III or under General Scheme — that line was not found on these two PDFs. Confirm with TIIC in writing.
Three common situations (illustrative — not quotes)
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Buying a fresh SIPCOT / SIDCO / TIDCO plot (purchase finance). TIIC’s III line is the card line that names estate land purchase at 10.95%. Ask TIIC in writing: scheme = III? when can the rate reset? what security and estate conditions apply? Compare with any bank term loan or industrial purchase quote on the same plot — all-in cost, not headline rate.
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Already allotted; need ₹5 crore+ against leasehold + building (classic property loan / working capital secured by property). A bank or non-bank lender sets its own pricing — ask for the written interest rate, whether it can change, and all fees; TIIC’s prime lending rate does not determine that quote. Lenders usually ask who the estate authority (lessor) is and how many years are left on the lease versus the loan term. For SIPCOT plots, confirm with SIPCOT and the lender whether mortgage permission (NOC) is required, when it must be obtained, and what must be completed before funds can be released — see the SIPCOT mortgage NOC checklist. Valuation is typically on the lease interest + building, not “as if freehold.” Treat these as documents and permissions to check — not as a published bank “SIPCOT property-loan rate.”
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Loan size ₹10 crore+ at TIIC, but purpose is estate land under III. The ₹10 crore+ base-rate line on the card excludes III. A large loan size alone does not rewrite scheme classification if the purpose is estate land purchase.
Bank property loan on leasehold — what this page will and will not say
Will not say: any bank’s interest rate for a SIPCOT / SIDCO / TIDCO industrial property loan. We did not find a primary published bank rate for that specific security at this check.
Will say (advisory only): for a ₹5 crore+ Tamil Nadu manufacturer on estate leasehold, credit teams typically care about:
- Who leased you the plot, and how many years are left on the lease versus the loan term.
- Mortgage permission (NOC) from the estate authority where required — for SIPCOT, see the NOC checklist (procedure, not a price).
- Valuation on leasehold interest + building.
- Any earlier charge or earlier NOC, and a no-due certificate if another lender already sits on the plot.
- All-in cost: processing, legal, valuation, stamp and documentation, and any takeover costs — versus TIIC’s written interest terms and applicable fees.
Do not read any bank property-loan “indicative” rate from this page. The Chennai property-loan and rent-backed loan rate tracker is a published-range map for other product bands — not verified SIPCOT industrial leasehold rates. The EMI calculator is for scenarios only.
Five teaching points (not loan checking and approval)
- Product is not the same as collateral. III prices buying estate land. A bank property loan prices credit against property you already control (subject to estate consent). Same plot, different question.
- One percentage point on the card is not one percentage point on every EMI forever. Reset clauses, monthly interest, fees, and which scheme you actually get matter more than the headline rate.
- ₹10 crore+ at the prime lending rate excludes III. Large loan size alone does not rewrite scheme classification.
- NOC is security time, not price. Complete SIPCOT mortgage papers can reduce avoidable queries on a bank property loan. Confirm with SIPCOT and the lender when permission is needed and what must be done before funds can be released.
- Compare written quotes on the same purpose. Purchase of allotment vs property loan against existing leasehold + building vs working capital secured by the plot — each requires its own lender assessment.
What to check before you choose
- Purpose on the application — buying estate land vs property loan / working capital against a leasehold you already hold.
- Scheme name in writing — III vs General Scheme vs the ₹10 crore+ line (and the III exclusion).
- Live TIIC card + revision date — re-open the Interest-rate PDF; confirm base rate and III spread still match this page.
- Reset / monthly interest / default interest — from the revision notes, not from memory.
- If bank / non-bank path — which properties the sanction says will be mortgaged; estate NOC path; years left on lease vs loan term; all-in switching or fresh costs.
- Plot dues and lease updates on SIPCOT — can hold up the mortgage; see the NOC checklist for the procedure.
Contact for a file review.
Review by: 24 Nov 2026 (recheck TIIC Interest-rate.pdf + revision extra papers; SIPCOT NOC guide).
Written and reviewed by CA Jitendraa Rathi, Chartered Accountant (CA membership number 217936) · Ex-banker, 20 years of experience in credit and lending · LinkedInLast reviewed · Expert review: CA Jitendraa Rathi (ICAI 217936)
Official sources: bank rates and rules change, so check SIPCOT, SBI loan interest rates, RBI (repo rate and lending rules).