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Property Loan/Home Loan for buying a piece of land

HI,

1.) Can we get any kind of benefits on purchasing a loan for buying a piece of land ?
2.) Basically what is the difference b/w a property loan and an housing loan ? in termsof eligibility and conditions ?
3.) What would happen if I take a housing loan to buy a piece of land and do not construct a house within or in 2 years.

Any more details would be helplful.

Thanks,
Prasad

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