Advise on purchase of a house
TEJPAL SINGH
(Querist) 05 February 2013
This query is : Resolved
Dear Sir,
I am an re-employed Ex-serviceman, I don't have any residence of my own and residing in a rented place at my place of new job.I am planning to buy a built house whose market cost is about 40L. The govt rate of the property is about 1/4th of market rate. I can manage about 2/3 of the market from my retirement benefits and to make up for remaining 1/3 amount I have following few queries;
(1)Should I go for bank loan? OR
(2)Should I sell my plot purchased about 10 years back and invest the sale proceeds for buying the new house?
(3)Also please advise me other beneficial way to buy a house and gain maximum tax exemption.
With thanks and regards
Nadeem Qureshi
(Expert) 06 February 2013
Dear Mr.Tejpal
You should think yourself for your benefit
and consult with Property Consultant no need a lawyer in this regard.
Adv Raj (High Court)
(Expert) 06 February 2013
Dear Mr. Tejpal..
Their is not illegality in this , so you wont need a legal opinion for the same.. please do contact property consultant instead of a lawyer..!
Good luck
Sudhir Kumar, Advocate
(Expert) 09 February 2013
This is a legal advise forum and no financial advise is given here.
prabhakar singh
(Expert) 09 February 2013
True are experts who say this site is not for financial advises,yet I prefer to answer query since advise desired is only restricted to consider that which of the option he has shall fetch him maximum tax return.
In my opinion since your objective is to seek maximum tax benefit,you should opt for bank loan for 1/3rd.
V R SHROFF
(Expert) 09 February 2013
You need Property Real Estate Consultants, Not Lawyers Club.
ajay sethi
(Expert) 09 February 2013
dont sell your plot . land gives maximum returns . take a bank loan if you cna fford to pay EMIs and buy the flat
