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Home Loan and Combining two sites
Posted: September 22nd, 2011, 9:53 am
by ktajith
Sir,
I am planning to buy two adjacent 30X40 sites in a BDA approved layout. Please clarify whether I can combine these two 30X40 site and build house i.e on 40X60 site.
Further, please clarify whether I can avail housing loan to buy these plots and build a small sheet house to claim income tax benefit.
I kindly request all of you to clarify these issues.
Re: Home Loan and Combining two sites
Posted: September 22nd, 2011, 12:37 pm
by Ravi h.g.
Hi ktajit,
1. you can combine and then construct. khatha amalgamation needs to be done.
2. you can avail housing loan subject to the bank and their legal dept.
3. small sheet house, u can construct, to claim income tax benefit, sit with your auditor. he / she will explain.
regards,
ravindra kumar hg
Re: Home Loan and Combining two sites
Posted: September 22nd, 2011, 12:59 pm
by prakashbask
One option is to construct on one 30x40 plot and use the adjacent one for garden and car parking.
Re: Home Loan and Combining two sites
Posted: September 22nd, 2011, 8:52 pm
by naveenv
Hi,
Certainly you can buy two sites and combine them but getting the house loan benefits is doubtful for a sheeted house.
If you r planning to construct a very small sheet house then i guess you should forget the IT benefits. With lots of auditing happening in banks for loans i dont think the banks will approve this.
Re: Home Loan and Combining two sites
Posted: September 23rd, 2011, 9:38 am
by ktajith
Thank you very much for your guidance.............
Re: Home Loan and Combining two sites
Posted: June 10th, 2012, 4:15 pm
by prabhu422p
Ktajith,
I am also buying 2 adjacent BBMP A Khata 30X40 sites.I am going for Axis bank composite loan.If u started construction in your sites please share information.
Also please share ur contact number>
Thanks,
Prabhakar
9916588111