Home Loan and Combining two sites

[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.

[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

[prakashbask]

One option is to construct on one 30x40 plot and use the adjacent one for garden and car parking.

[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.

[ktajith]

Thank you very much for your guidance.............

[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