Buying a Property is quite tedious and cumbersome process in India. Normally its a big hassle to buy a property due to complex legal processes and absence of Real Estate Regulator. Besides this there is no centralized database of housing units in India and due to corruption large no of projects are in legal tangle. Though majority of property transactions are through Home Loan but considerable no of property transactions are executed without Home Loan. In my post on How to buy House with Home Loan i discussed steps relevant to property purchase by availing Home Loan. In this post, we will ... Read More
Possession Linked Payment Plan
In my previous post i discussed Why Under Construction Projects get Delayed? In continuation of same, lets find out how Possession Linked Payment Plan help to reduce the risk of project delay. Currently the most popular payment plan for property purchase is Construction Linked Payment Plan in which certain % of payment is released as the project progress i.e. at every stage of construction. Construction Linked Payment Plan is mutually beneficial for both buyer and the builder. In my opinion, It favor builder as 90% payment is released when super structure is ready. Possession Linked Payment ... Read More
Home Loan Tax Benefit Deductions
For property purchase, Home Loan Tax benefits is the biggest motivator to avail home loan. In one of my previous post, i highlighted 5 Disadvantages of Home Loan. In this post, lets find out Home Loan Tax Benefits which can help you to take informed decision. As we know that Home loan EMI is basically divided into 2 parts i.e. Principal Repayment & Interest Payment. Home Loan Tax benefits are linked to these 2 components with differential tax treatment. Home Loan Principal Repayment The deduction for principal repayment can be availed under Section 80C of Income Tax Act. The ... Read More