BUYERS GUIDE
GUIDE TO ALL YOUR HOME BUYING QUERIES
LOAN ENQUIRIES
01.
Can I get my House financed?
Yes. All our properties offered for sale have clear titles. All our projects are approved with most leading banks and financial institutions for availing home loans.
02.
How Much Loan Can I Avail?
You can avail a maximum loan of 80% of the Agreement value. However, your loan amount may differ as per your income eligibility as appraised by the bank. All loans are at the sole discretion of the bank.
03.
Term that banks offer?
Loan tenures to a maximum of 30 years, depending on age.
TAX BENEFITS
01.
DO I GET A TAX BENEFIT ON THE LOAN?
YES
02.
DO I GET DEDUCTION ON INTEREST?
The repayment of the interest portion of the EMI is allowed as a deduction under section 24 if the purchase or construction is completed within a period of three years from the end of the year in which the loan is taken under the head "income from house property" up to Rs. 2,00,000/- for self-occupied property and full amount of interest in case of let-out property provided that loss from such let out house property does not exceed Rs.2 Lakhs.
03.
DO I GET DEDUCTION ON PRINCIPAL REPAYMENT?
The repayment of principal amount of the loan can be claimed as a deduction under section 80C up to a maximum amount of Rs. 1.5 Lakhs. You can also claim deduction under Section 80C towards payment made for stamp duty, registration fee and other expenses for the purpose of transferring the property in the name of the assessed. All these deductions however should not exceed the overall limit of Rs. 1.5 Lakhs.
However, deduction under Section 80C is not available in respect of payment made towards the cost of any addition, alteration, renovation or repair carried out after the issue of the completion certificate.