Purchasing of a flat in sharing
Sachin
(Querist) 14 March 2012
This query is : Resolved
Respected Experts,
I am a Central govt. employee. I want to purchase a flat in Vasundhara, Ghaziabad in 50:50 sharing with my friend who is also a central govt. employee. Flat is constructed by Awas Vikas Parishad. Both of us will go for Home loan. Can we purchase the flat? Also how the registry will be done? How the Electricity & Municipality authorities will give the connections? Also whether both of us will be entitle for rebate of Rs. 1,50,000/- of repayment of interest of home loan in income tax structure?
Regards
ajay sethi
(Expert) 14 March 2012
since you are interested in purchase of flat and you are taking a home loan the issue that maya rise if what if your friend fails to pay his share of installments of loan .
you will be saddled with whole liability .
better buy in your name only .
once flat is in your name you will get electricty connection . builder will do the needful .
for registration of agreement builder will have to attend office of registrar and both of you will have to sign in his presence .
