Loan interest tax benefits are a myth in Noida Extension?
Sector 137, Noida Extension — prices have shot up here, I'm looking at a 3BHK, maybe Godrej Properties. I'm in the real estate line, but jab khud ka ghar lena ho, calculations alag ho jaati hain. Everyone talks about Section 24 for loan interest, but honestly, with current EMIs and property prices (thinking ₹1.5 Cr for a 3BHK), the ₹2L limit feels like a joke. Is anyone actually leveraging this effectively? Or are there other, less talked about ways to save tax on property here? Like, co-ownership with parents or something for better deductions? Ya koi special trick for registration charges? I know what builders don't tell you, but tax hacks for end-users, woh off-the-record advice chahiye. What's the real scene for tax savings in Noida Extension for an end-user?
Comments
U5, Godrej ke projects kaafi hyped hain but prices bhi waise hi hain. Original poster ki baat sahi hai, ₹2L ka deduction toh bas formality lagta hai. Hum bhi Ajayabpur side dekh rahe the, socha thoda affordable hoga, but wahan bhi connectivity issues aur future appreciation ka darr lagta hai. Noida Extension mein toh ab affordable kuch raha hi nahi. Itna loan uthane ke baad bhi tax mein kuch khas bachta nahi. Bohot frustrating hai yaar,
Godrej ka kaunsa project dekh rahe ho bhai? Sector 137 mein bahut options hain. Koi specific advice hai kya us area ke liye?
Bhai, you hit the nail on the head! Yeh ₹2L limit toh mazak hi hai, especially for a ₹1.5 Cr property. Meri bhi same situation hai, looking at Sector 137 only, prices have indeed gone crazy. Builders ke promises aur tax benefits, dono hi hawa mein lagte hain jab EMI ka calculation dekho. Totally feel your pain on this one.
U3, co-ownership mein tax benefit milta hai, especially agar dono ka separate income source hai. Har co-owner ₹2L tak claim kar sakta hai Section 24 ke under. But haan, property unke naam pe bhi hogi. Parents ko loan mil sakta hai, but it depends on their age and income. Banks prefer younger co-applicants usually. Aur stamp duty mein bhi ek chhota sa benefit mil sakta hai if a woman is a co-owner in some states, but that's not a huge saving in Noida.
Exactly! Main toh soch raha tha co-ownership with parents ka option. Papa ke naam pe thoda loan leke shayad Section 80C mein kuch extra mil jaaye, but fir property unke naam pe bhi hogi. Legal complications ka darr lagta hai. Aur agar parents senior citizens hain, toh kya unko bhi home loan milta hai? Koi practical experience hai ismein?