Can I avail home loan on farm land and get tax benefits

I stay in Hyderabad and I would like to buy a plot in the outskirts which is a farm land. Assuming this agriculture land cannot be converted to residential land, can I still avail home loan and get tax benefits? It falls in gram panchayat layout and is not HUDA approved. Pls let me know which bank I can approach.

No bank will finance you for un authorized houses constructed on a illegal layout. If it is outside of HUDA area, then Grama Panchayat layout are valid. But if the land conversion is not passable (like in Shamshabad area - Green built area - bio zone area), then no bank will finance it. But if any one finance it, weather it is a legal house or illegal house, then you can avail income tax benefits. The Income Tax department will give benefits on any house let it be in Delhi or in a small village. For getting home loan in india is IT return mandatory for a salaried employee ?

yes it is. Otherwise you may prove that you were not liable to file return. Can I get all home loan rates in India?

I want to see all floating and fixed home loan rates in India. Is there such a website because I don't want rates only from 4 or 5 banks

Compare fixed and floating home loan rates and they also give other useful info such as fees, eligibility, margins etc. Definitely check it out. NRI home loan in India?
am planning on buying property in india .. which bank offers best nri home loan rates.. any heads up please ?

Tips for Saving Money on Real Estate Buying

If you are up to saving money on real estate buying, be well aware of certain facts. Purchase a house only if you are sure enough to live there for several years. Else, it can be expensive for you. Purchasing real estate and then selling them with a profit requires good understanding of the real estate market trends. So, take up the idea of purchasing property only if you are well aware of the ups and downs of the real estate market trends.

In case you are interested in buying real estate to stay, the following tips would help you to great extent.

• Fix the amount of money that you would want to invest for real estate. To determine the amount the thumb rule is two-and-one-half times your annual salary. You may use better tools to calculate the amount for investment keeping in mind the income, debts, and expenses.


• Rehearse well on how you would negotiate to get the best deal for real estate buying. The deal should be based on the sales trend of similar homes in the area. Check out the sales prices of the houses of the last three months.


• Though Internet is a good guide for you to get all the listings and the current rates of real estate buying, but engaging a professional agent would definitely make your work lot easier. He would help you in the bidding process for the best possible real estate deal. If you find that the price of the recently sold homes is 5% less than the asking price, you bid for 8 to 10% lower than the price quoted by the seller.

Property Loans

To save money, you may go for home loans. A home loan would help you to get a home of your own and pay for it in reasonable installments. Home loans come along with huge tax concessions. Compared to other forms of loans the home loans would help you to evade tax payments to great extent. Lets see how.

• You would get tax deduction amount on the repayment of the principal amount of the loan that is granted to you for purchasing a house.


• The rate of interest paid on the loan is deductible from 'income from property', even if the amount is not paid during the year.


• Even the interest paid for a fresh loan which is taken to repay the old loan is also deductible.

So, taking home loans are quite useful for saving money on real estate buying.

Buy real estate | Real estate India | Gurgaon real estate

Commercial Real Estate in India

Though the economic downturn has stunted the growth of the Indian realty market, we can always begin the year 2010 with a new ray of hope. In fact, the year has already brought cheers on the face of the demand starved real estate sector. The Indian economy is rapidly recovering, resulting the Indian property market to reach out new heights of achievements, especially with respect to commercial estates.

As the recession is fading, India is witnessing the gradual increase in business activities. Hence, the demand for commercial complexes is increasing causing the real estate developers to take up challenging commercial projects.

Increasing Demand for Commercial Real Estate in India

• According to world renowned realty consultant Cushman & Wakefield, important Indian cities like New Delhi, Mumbai and Bangalore are expected to witness the strong-end user demand for commercial projects in the year 2010.


• The cities would also undergo change in sentiments that would eventually lead to the expansion of business and hence, benefiting the commercial land lords.


• Since the end users are returning, the core developers would rather come back in the commercial real estate scenario more aggressively in order to invest their funds.


• The increasing demand for the commercial real estate would receive a further boost due to the favorable monetary policies taken up by the Indian government in 2010.

How to Find Commercial Real Estate India

Many realty developers offer property valuation and property management services for easy assessment of the property. Whether for sale, rent or lease, the methods of property valuation are strictly followed with respect to the guidelines laid down by the development authorities.

Apart from valuation guidelines, the development authorities also undertake the task of commercial property auctions along with regulating the commercial property tax and laws.

The Commercial Real Estate News is a good source for getting information on recent trends of the commercial property market. We would also get to know about the top listed developers and their updated developments.

Buy real estate | Real estate India | Gurgaon real estate

Loan for a property in Calcutta, currently staying in Gurgaon?

I am looking to buy a house in Kolkata (out-skirts). I currently live in gurgaon. The private banks here are saying that they cannot give the loan in that location. However, I know that banks like sbi, Overseas bank source the home loans there. so when i went there i was told to contact the kolkatta bbranch instead of the ones in gurgaon. can i get a loan in a kolkatta branch even if i am residing in gurgaon?

How many times you ask the question You see I have clearly given the answer still you are posing such questions.
cannot give loans in that location? Which location and why? You see the eligibility criteria is lay out approval building plan approval and estimate is genuine and the repayment capacity eligiblity norms is excellant no question of bloody location and nobody can say we will not give loan in that street or in this lane etc.
If the location is far away from the branch office then it is not the question of location but the question city it self try to understand

It doesnot matter whether it is private bank or public bank if the project is viable and excellant they will certainly come in search of you the competition is that much stiff But it will be better to approach a bank branch which is nearer to the house you propose to purchase/build.All that you need is to furnish the details they need and you have to impress them that is all. no question of where you reside or where you work

Yes you can get at Kolkatta even if you stay in Gurgaon!

Best real estate projects in Gurgaon and Noida

In case you are interested in knowing real estate properties in Gurgaon and Noida, here is the list of best real estate projects in Gurgaon and Noida:

ramprastha
dlf
vatika
roots developer
tulip infratech
bestech group
bptp
omaxe developer
uppal
ild
air force and naval officer enterprise
era group
saamag construction limited
assotech limited
ashiana
the parsvnath group
mapsko developer
eldeco
raheja developer
orchid developer
orris developers
ninex developer
indiabulls infrastructure
ireo
spire world
tata housing
emaar mgf
unitech
mahindra lifespace ltd
amrapali group
today homes and infrastructure ltd
logix group
divine india
pioneer urban
jaypee greens
orchid infrastructure developers
abw group
vipul
3c
supertech group

property investment in India

What are the "restrictions" in "INDIA" on "property investment" in "India" by an "American citizen."

can you provide any website that gives a detailed explanation to this one?
I am not sure if there are any restictions, if you have enough money then you can. I live in chennai and i heard a big gated community is being built exclusively for japanese, and an israeli investment company has bought 100 acres of land for development near chennai at very expensive rates(according to Indian standard). And I know of an Australian who owns a farm house on the East Coast Road. This kind of development is now happening all over India and is not restricted to just cities, in a place near our village( 200 kilometers south of Bangalore in Tamilnadu) a person from UK has bought some 10 acres of land and has developed a farm house there. So I dont think there are any restriction for an American to buy land in India. Yes, Indian cities and villages are for sale Lock Stock and Barrel. Hurry.

What are the various options available to save on tax on Long term Capital from selling a property in India?
Specific Reinvestment plans that would help
Reinvestment. The capital gains on the sale are forestalled thru reinvestment. This is something you can do ad infinitum. There's a lot of other tricks but most are questionable and could lead to trouble. zeke


Here are some interesting real estate project in Gurgaon:

Ild Spire Greens Gurgaon
Tata Raisina Residency Gurgaon
Unitech Fresco Gurgaon
Dlf Town Houses Gurgaon

Joint home loan india query?

Hi, I have taken Joint home loan and home with my mother. (both are co-owners) Last year I took 100% tax benefit on home loan. Can my mother take 100% tax benefit this year on same home loan ? And is it ok to shift home loan beneficiary every year ?

If the house is purchased with your own money and if your mother is only a name sake owner (owner on papers only), then you can claim full benefit. If your mother also invested in it, then both of you will get the benefit as per the proportion of ownership. But the tax benefits cannot be claimed on rotation basis. If the interest paid is 3 lakhs, then 1.5 lakhs each, if the interest paid is 5 lakhs then 1.5 lakhs each, if the interest paid is 2 lakhs then 1 lakh each. Like that.

I am staying in US, and what happens if I stop paying the home loan india?
The issue is not with the price falling..I have difficulty in paying..Can I just not give the keys to the bank..I am not absconding..

if you stop paying installments, the bank will take possession of your property even if you don't give key. they will take police help to take possession. then they will auction your property for a very low price to cover their outstanding balance of your loan. there is a sword with them now called SARFAESI Act. this act gives banks to directly auction your property without undergoing legal process in DRT. don't take risk. if you don't have resources it is ok to lose. but if you can pay installments then be honest. it will pay you in the long run.

What happens if I stop payment of a HDFC home loan in India?



How to include interest on home loan in ITR1 form in india?
trying to include home loan interest.. but where can i include.. row 2a have only positive No.s. i am individual salaried.
If u want to include Int. on HL, then u should use ITR 2 & NOT ITR 1. In row 2 fill it as NIL. Fill the interest details in sch. HP & CYLA and then take it to Part B -TI. The form itself suggests in brackets as to from where a figure is to be taken. Just follow it.