Hello,
First thanks for creating a very useful website which helps to answer lot of questions.
My question is:
1. I have identified a property which is still under construction and handover will be sometime after Aug 2017 and before Dec 2017
2. The approximate value of flat is around 65 lacs and I am planning to get 80% thru home loan
3. If I take a home loan of 45 lacs in Jan 2017, which option is best for me is it Pre-EMI or EMI? Which will benefit me?
4. Also what will be approximate amount that will be deducted every month once the loan is approved (assuming I am taking for 15 years tenure)
Thanks so much for your help.
Digvijay
1 Answers
Hi,
The quantum of EMI is dependent on applicable Rate of Interest on your Home Loan. You may check with your lender to provide the Amortization Schedule illustration.
Kindly note that until you get the possession of the property you can not claim tax benefits.
Read:
http://www.relakhs.com/under-construction-house-how-to-claim-tax-deduction-on-home-loan-interest-payments/
http://www.relakhs.com/understanding-tax-implications-of-income-from-house-property/
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