Capital Gain will accrue from the date of Sale Deed or possession or whichever is earlier and if the property is sold within 3 years of the above date, the same will be treated as Short Term Capital Gain if this period is more than 3 years from the above, the same will be treated as Long Term Capital Gain. The latter will also have the advantage of indexation.
Two of the areas where we have constructed our homes are North Bangalore and South Chennai. Both the areas have seen rapid development since the time these projects were conceptualised. This has resulted in good appreciation of our projects. Please refer to our blogs () and () for more information.
Although different banks have their own rules for eligibility the common factors are income, age, qualifications, number of dependents, spouse’s income, assets, liabilities, stability and continuity of occupation, and savings history. Check in the different bank sites for more information.
In most of the bank it depends on your age. The repayment period can be as high as 30 years. Or it can be the years remaining to retire- whichever is the lowest.
The home loan borrower (as well as the co-borrower) are eligible for tax benefits for both the principle (under section 80C) till Rs 1,00,000 and interest (under section 24d) till 1,50,000 per annum. For more refer incometax website.
