Hi I would like to know if i can project my stamp charges & registration in my tax declaration to the employer during the registration of my flat.Does the amount i paid for stamp charges (1.4 Lakh) & registration (17K) can be used for my tax calculation & exemption ? I have taken SBI loan. Shiva
Me & my brother are starting construction of home on a plot which is in the name of my brother.If I take home loan then will I be eligible for tax deduction? or First get this plot registered in the name of both of us ,to get benefit of home loan? Is it possible legally?
Me & my brother are starting construction of home on a plot which is in the name of my brother.If I take home loan then will I be eligible for tax deduction? or First get this plot registered in the name of both of us ,to get benefit of home loan? Is it possible legally?
Staet bank of India is the ebst bank for housing loan as well as their subsiidiries.. www.statebankofindia.com The private and other banks follows afterwards Regards mahesh nayathil http://www.maheshnbiomedical.com
Dear Sir, I am working in Private Advertising agency and get salary 8,500/-. I have bought a Plot area 1000 Sq. fit., I want to get loan for construction home. howmuch loan is requied for it for 1 bed room set and how i will get loan
RE:Home loan
by imtiyaz momin on Feb 03, 2007 07:30 PM
You may calculate on the basis of 750/-Rs.Per sq.ft as the cost of construction for total build up area.if you planning for 250sq.ft to built up than it will be approximately 250sq.ft X750Rs.=187500
RE:RE:Home loan
by durgesh jadhav on Feb 03, 2007 08:53 PM
imtiyaz.. allow me to bring to your notice that the above person is asking for the amount of lost that can get approved for him & not the construction cost.
please read the query properly so as to stick to the main idea.. thank you for the additional info anyways!
Since I am working in a metro city and I am building a house at native village. Can I get housing loan for the house under construction at my native village,if so the proceedures may please be advised . retgards rg
Hello Friends 1. I do agree many experts will say many things. But I want to say something different. It is agreed that every family wants to invest little bit for the future. People do invest first in Provided Fund and then in Mutual Fund or any other scheme for saving the tax. 2. It is not me, it was Economic Times news paper news that our hard earned money is reducing in PF, Bank a/c, Bank FD, Post Office and even in fancy insurance schemes. Friends, remember & recollect that India is full of opportunities :- Banks and Insurance companies are rising high in India - every next day there is another ATM opening or new building of new Bank is coming up. All these sectors are earning from customers pocket only. They give you 6 to 8% annual return on your investment - and rest goes in their ATM, Buildings, Machines, Empolyees etc... Coming back to how your money decreases in Bank a/c, FD, Post Office and even in Provided Fund - please ask yourself - how much you are earning by putting your money in these sectors - say 9% maximum. Now ask yourself and refer any good news paper - what is the inflation rate in India since last 20 years. Friends, market rate of inflation is more than 15% to 20% PA. I will give you one more practical example - During 1960%u2019s, Rs 100 PM salary was drawn and was sufficient to run the house and huge saving also, people used to buy pure Gold (check with your parents)During 1980%u2019s -Rs 1000/- salary PM was required to run the house.During 2000%u2019s -Rs 10,000/- salary PM (MIN) was required. Now it is 2007/Feb - Rs25,000/- is just sufficient to run the house and just forget about buying gold or anything extra.WHAT WILL HAPPEN DURING 2020%u2019s :- Rs 1,00,000/- salary will be min. requirement for running the house and your other requirements will need extra money. Now i will remind you of market rate of inflation :- during 1980's the scooter cost was just Rs6,000/- and patrol rate was less than Rs7/- per ltr. Its just 20 years :- scooter rate is Rs35,000 and patrol rate is Rs50/- Per Ltr. (ASK YOURSELF :- DID YOUR MONEY IS GROWING IN PF OR BANK A/C OR FD ETC..) 3. THUS YOUR EARNING ON YOUR INVESTMENT IS = RETURN ON INVESTMENT - INFLATION RATE 4. SO, THE END Solution to the problem is that one should invest in share market or in mutual finds :- these two sectors always grow more than inflation rate. 5. Alternately, invest in Business - even small scale Business. Any trading business also gives you 8% to 10% within 3 months (credit period)- still one will get 32% to 40% PA from Business. But Business is not everyone baby-I do agree. 6. ANOTHER ALTERNATE :- Invest in Unit Linked with Equity Plan - YOU GET TAX SAVING BENEFITS, HIGH RETURNS WITH CAPITAL GURANTEE AND INSURANCE COVERAGE. 7. THE BEST I COULD FIND IS JOIN THE MLM BUSINESS OF UNIT LINKED EQUITY PLAN OF securedlives.com who is doing marketing for 7 major companies. Here is details :-Plan Benefits (OM KOTAK PLAN)-either buy from company or through me. Also for NRI%u2019s also
a]. Rs 45,000/-(3 UNITS OF RS 15,000 PA - YOU GET 9 ID's)PA for 3 yrs b] Insurance cover Rs 3,37,500/- c] Tax Benefits under 80 C, & 10 D d] Return : more than 38% PA (money double in 3 yrs) It will be as per growth of equity market- that can be double in one yr also. e] Sum Assured : Principle at bank rate of int is assured by IRDA f] Accidental death benefits : 3,37,500 value of your equity g] Withdrawal : after 3 yrs h] Loans after 3 yrs : 4th - 97%, 5 - 98%, 6-99% & 7 th yr 100% i] Auto cover Maint : pay instalment for 3 yrs and avail facility of insurance cover increasing value of equity for 15 yrs at market rate of growth.
8. Buyer Benefits after buying through me :- a]Eight percentage (8%) commission back from me within first month b] FREE ONLINE COMPUTER COURSES & EDUCATION c] FREE 40 ,MB WEB SPACE d] FREE solved CBSE class 10th and 12th papers & guide for entrance Exams e] FREE user id and password to access many unique feature on line f] FREE ELIGIBILITY TO EARN TEAM INCOME %u2013 and could be 32 lakh in 1 year without promoting any one else. Sellers Benefits : - Direct Sales Referral Income Bull%u2019s Eye Income benefits of Buyers 9. Lastly, I must explain team income of securedlives.com TEAM INCOME :- Team Income is one Income that everyone whosoever buy the product will be eligible irrespective of whether he / she promotes the sales of the company or not. Promoter can earn 32 lakh in 1 year after paying govt taxes. 1ST month %u2013 U alone makes 2 sales (invest plan of Rs30,000 either to 1 person or Rs15,000 plan to 2 persons)-total 2, 2nd month %u2013 U help new 2 associates to make 2 sales each 4 sales 2 4 =6, 3rd month-U 2 helps new 4 associates to make 2 sales each - 8-total 6 8=14, 4th U 2 4=7 helps new 8 associates to makes 2 sales each-16- total 30, 5th U 2 4 8=15 helps 16 to make 2 sales each -32-total sales 62, 6th 15 16=31 helps 32 to make 2 sales each-64-total sales 126, 7th month- 128 investments-total 254, 8th month 256 investments-total 510, 9th mth - 512 investments -total 1022, 10th month-1024 invest-total 2046, 11th month-total 4094, 12th month-total 8190
TEAM WORK PAYOUTS WILL BE WEEKLY BY THE COMPANY :- FIRST 3 SALES BELOW U TOTAL 3 RS 1,200 , Next 3 sales below U-Rs 1250/-, Next 3- u get another rs2550 , Next 9 - u get another 3000/-, Next 9 u get rs3000/-, Next 9 u get 5000/-, Next 9- u get 5000/-, Next 5-u get 9000/- 50 sales below U - by anyone u get team income of Rs 30,000 from securedlives.com
Next 50%u2019s below you U get Rs 20,000 Next 50 Rs 20,000 for each 50 below U.
For 8190 sales below You :- first 50%u2019s earning Rs 30,000 balance 8140%u2019s earning Rs 32,56,000 = Rs 32, 86,000/-
10. - NOW WHY YOU SHOULD BUY THROUGH ME IF YOU GIVE ME 50 SALES %u2013 SECURE LIFE GIVES YOU RS 30,000 TEAM INCOME AND FOR YOUR WORK UNDER ME : I WILL BE PAID BY SECURE LIFE RS 20,000/-
SO, I HAVE DECIDED TO PAY ADDITIONAL RS 10,000/- TO YOU FROM MY INCOME : THAT IS 50% OF MY INCOME I AM WILLING TO PAY YOU FOR YOUR WORK.
THAT MEANS, ONCE WE ACHIEVE A TGT OF 8190 SALES BELOW ME & U : SECURE LIFE WILL PAY YOU 32 LAKH AS TEAM INCOME I WILL PAY YOU 16 LAKH FROM MY INCOME TO YOU.
Hi Sir, I am despratly in need of a house. I applied for DDA's 2007 scheme. Unfortunatly, my name didnt appeared in the draw list. I came to know that ppl who got their names in the lucky list are selling on a premium of 5-10 lakh. I want to buy a flat from one of them. I can manage 2 lakh in cash. Will it be possible for me to get 20-22 lakh loan(my current salary is 50K) on a flat which still not tranferred in the name of alottee. If not can you pls. suggest me the alternative loan procedure to buy one of those flats. Remember the original alottes dont want to pay any thing to DDA they just want their premium.
RE:Is it possible to have loan on a new alloted DDA flat?
by Sowmya Nagaraja on Feb 06, 2007 12:05 PM
Hi,
I think there are two issues here:
i. Whether you will get a loan of 20 22 lakhs and ii. Whether you can by a DDA flat from one of the existing allottes and flat is still not transferred in the name of allottee.
As regards loan - yes, you can get loan up to Rs 24 to 25 lakhs on the basis of your current salary or up to 15 to 20% of cost of flat which every is lower.
As regards DDA flat where the flat is yet to be transferred in the name of allottee, I do not think banks would be willing to consider loan on such property as the seller would not have any clear title deeds. Forget about bank, I would think even other wise it would be quite risky to buy such properties.
Now, since the real estate market is wildly swinging, i suggest please do not buy any property in haste out of desperation.
I have heard about lesser interest rate from LIC Housing Loan. Is it so? DOes LIC pays all the cost of property as Loan. What is their criteria for giving loan?
I am having a salay of 25k per month. I am planning to take a house loan of 15 laks. how many year loan should i go for. What is the best option. I am ready to pay an EMI of 12k per month
