Q1
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Is home better or Loan against property better? Are the rates of interest different?
I want to buy a 3 bedroom house and i have a old 2 bedroom house which i thought i can mortgage?Would it be better to apply for a new home loan or should i mortgage the old property?
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Asked by mtom on 2008-07-18 19:07:01. |
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Your question is unclear.
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Answered by bud68 on 2008-07-18 20:07:46. |
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A1
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Q2
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LOAN AGAINST PROPERTY?
I badly need money to develop my business for which i am looking for a loan against property
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Asked by on 2010-09-28 11:09:38. |
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If it is for business, approach any nationalised bank with proposal and offer your property as collateral security to avail business loan at reasonably cheap rate of interest on loan.
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Answered by Veers தமிழ் on 2010-09-28 18:09:39. |
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A2
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Q3
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Loan against property?
Hi
What is current rate of interest in India for loan against property.
Thnx
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Asked by Vivek S on 2010-12-18 21:12:08. |
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For housing loan, it is from 8.5% onwards.
For mortgage loan, 2% over and above housing loan rates.
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Answered by Veers தமிழ் on 2010-12-21 23:12:56. |
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A3
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Q4
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Who required loan against property, business loan and home loan contact me in Delhi and NCR of India only?
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Asked by Pradeep Kumar S on 2009-02-20 14:02:29. |
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will it be legally or illegally?rate of interest on loan or will it be interest free?or is it a joke?what if one has no property and he want a business loan.
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Answered by RAMESH CHANDRA J on 2009-02-25 15:02:18. |
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A4
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Q5
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can i take a home loan before i select a property?
I want to take a home loan from bank, but have not yet finalised my property. Is it possible to get a property loan? When will the entire amount get sanctioned?
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Asked by on 2011-09-28 17:09:15. |
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You can get an in principal sanction before selecting a property based on your financial capacity and other papers.
But disbursement will be made only after your fixing a property. There is a time limit to select a property. If delayed in fixing property, the sanction will lapse and you have apply afresh.
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Answered by Veers தமிழ் on 2011-09-30 09:09:00. |
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A5
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Q6
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Is home loan interest no limit exemption applicapble for a property where my parents live?
I have taken a home loan for a property at my native where my parents live.I am staying in Chennai at a rented house.Shall i claim the whole interest(more than 150000) i am paying for the home loan since the property is not self occupied.And also shall i claim HRA exemption for the rent i am paying
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Asked by SABARINATH on 2009-07-20 14:07:00. |
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As long as you have not rented out the house, even if you keep it vacant it is deemed 'self-occupied'.
You are eligible for tax benefit on interest of Rs 1.5 L.
You can claim HRA exemption if you are receiving HRA in your salary.
The actual HRA deduction, u/s 10(13A), you will be entitled to will be the least of the following:
•The actual amount of HRA received.
•40% of salary. This increases to 50% if you are renting out the house in Delhi, Mumbai, Chennai or Kolkata.
•Rent paid minus 10% of salary (basic component + dearness allowance)
HMT
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Answered by HMT on 2009-07-22 02:07:51. |
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A6
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Q7
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I have taken a Home Loan for an under construction property, can i claim IT rebate for this?
I have taken a Home Loan for an under construction property and will start paying EMI with interest and principal payments from december 2010. Since i am yet to take possession of the House, can i claim the tax benefit on the interest and principal components or either one of them in this Financial Year?
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Asked by on 2010-11-29 15:11:34. |
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It all depends on the month-year of completion & you taking possession of the house. Suppose you take possession in Feb 2011, it will be in FY 2010-11. Then you can claim tax benefits.
There is no tax benefit u/s 80C for under-construction house. You can only claim interest paid, during construction, in 5 equal installments starting from the FY in which the construction gets completed.
HMT
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Answered by HMT on 2010-11-30 09:11:46. |
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A7
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Q8
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How to claim tax benefits for home loan for a property in wife's name?
we constructed a house in a plot which was in my wife's name. We both got the loan jointly. My wife has resigned her job after that. Now how can i claim the tax exemption for the home loan on a property in wife's name?
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Asked by Dinesh k on 2010-01-27 15:01:54. |
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To claim tax benefits for home loan:
1. You have yo be co-owner of property and
2. You have yo be co-borrower of loan
HMT
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Answered by HMT on 2010-01-27 18:01:14. |
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A8
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Q9
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What are the financial companies or banks are giving loan against property in India?
I have house on my name but it is on house loan. Can any bank grant me the loan for it?? Its been three years I am paying my EMI regularly.
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Asked by on 2011-01-07 01:01:54. |
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All banks give loans against property. In case of State Bank of India a little information is given below. However, if you want to get full information, kindly contact nearby Branch or you can have complete information on the official web site of the Bank which "sbi.co.in". Go to Personal Finance and then to Property Loan.
Enjoy the SBI Advantage
•Complete transparency in operations
•Access this loan from our wide network of branches
•Interest rates are levied on a monthly/daily reducing balance method
•Lowest processing charges.
•Long repayment period of 60 months up to 120 months for salaried individuals with check-off facility
•No Hidden costs or administrative charges.
•No prepayment penalties. You can have surplus funds at any time thereby conveniently reducing your loan liability and interest burden.
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Answered by Gopal on 2011-01-08 12:01:19. |
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A9
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Q10
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I want a loan against property pledgement , any body help me?
my property documents are not yet updated, but loan is very urgent how to proceed?
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Asked by on 2011-07-10 17:07:33. |
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Approach private banks / institutions like India Bulls, Reliance etc. They may give such mortgage loans subject to other eligibility.
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Answered by Veers தமிழ் on 2011-07-14 07:07:36. |
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A10
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