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Planning to buy your first House? Government has lined up these benefits on Home loans

Buying your first house? This guide will teach you the many benefits it reaps when you apply for your home loan. For more info, Contact today on 1800 200 7777 or visit www.indiabullshomeloans.com or email at customerserviceloans@indiabulls.com<br>

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Planning to buy your first House? Government has lined up these benefits on Home loans

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  1. Planning to buy your first House? Government has lined up these benefits on Home loans

  2. Buying your first home is your next big step to building your own precious asset. • Though we end up paying a humongous amount of loan, having your first home is an accomplishment in itself. • With the booming hike in property prices, buying a home is a distant dream and almost impossible to purchase a house on an average monthly income. • Hence, applying for a home loan is the next possible step into making the most out of it.

  3. The Pride Of Owning a Home: Considered as the largest component in our financial investment portfolio, buying a home is one of the biggest financial asset we may own in our entire lifetime. • Low Interest Rates: Mortgage Loans or home loans tend to be long term financial expense anywhere above 10 years. During this cycle, you may find several fluctuations in your interest rates, hence, benefiting from the falling rates in your payment cycle at some point. • Capital Appreciation: One of the most beneficial factors in property investments’ is the rising price of capital.

  4. India faces a 15 per cent annual hike on their average construction cost. Inflation also affects the rental hence offering a noticeable hike in annual rental structure • India faces a 15 per cent annual hike on their average construction cost. Inflation also affects the rental hence offering a noticeable hike in annual rental structure

  5. Tax Benefits (Interest Paid): One of the major beneficial factors of home loans is that an individual can claim a deduction of up to Rs. 1.5 Lakh on the computed income from property investment towards purchase or construction of the house. • This is rightly stated under Section 24(b) of the Income Tax Act, 1961.

  6. This is rightly stated under Section 24(b) of the Income Tax Act, 1961. • Tax Benefits (Principal Amount): Section 80C and Section 80CCE of the Income Tax Act, 1961 states that a principal repayment up to Rs. 1 Lakh can be allowed as a deduction on gross total income under clarified terms and conditions for home loans

  7. Home Loan trends change with time in a timely manner. Always remember to calculate and compare home loan trends online. • One can look out for home loan eligibility calculator online to check the sum, EMI and other variables as per their monthly income. • This not only helps you understand the investment amount but also the eligibility of an individual and credibility for the property you’re looking for.

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