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Answered on November 09, 2017
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  • Deductions qua interest are limited, if your payment towards interest is more than the stipulated limited permitted under the IT rules, then that much amount will be disallowed whilst computing your income and further, you will be charged notional rent as income from the second flat (on and from receipt of possession of the second flat), even if the same is not rented out then.



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    Answered on November 09, 2017
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  • As per the provisions of the Income Tax Act the right in property would be dependent on who actually has made payment for the same. In this case, since the payment has been made by Raj, however, the Agreeement stands in the name of Raj's father unless Raj files a suit for ownership of the property in his exclusive name or gets the property transferred in his exclusive name, Raj's brother can de...
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    Answered on November 09, 2017
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  • You can enter into a tripartite agreement with the developer inter alia in respect of the flat and which tripartite agreement could also be the sale deed which can be executed prior to the completion of the construction of the property or in the alternative an agreement can be made between the husband and wife whereunder the husband transfers a proportionate undivided interest in the flat in fa...
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    Answered on November 09, 2017
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  • No, the Bank will not be entitled to stop registration of the release deed, however, the bank will be entitled to obtian a decree/ order against you in your capacity as guarantor for the loan in question and seek sale of your flat for repayment of the loan.

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    Answered on November 09, 2017
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  • You will require an NOC ffrom the bank prior to buying such property. You can make payment of the balance dues of the bank from the agreed value of the flat to the Bank directly and thereupon you can also get the originals of the flat from the bank. The original documents of the Flat will not be required at the time of registration of your agreement/sale deed.


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    Answered on November 09, 2017
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  • Home loans can be generally availed between 7.5%-9% depending on the amount and the tenure of the loan. It generally varies from bank to bank though. SBI has the lowest interest rates in the country

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    Answered on November 09, 2017
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  • Usually, the loan depends on the availibility of the person seeking such loan to repay the same. However, security of the land, the market trend is to give 60-70% of the land value as loan.