


- About Us
- OUR OFFERINGS
- CALCULATORS
- RESOURCE CENTRE
- Quick Links
- NEWS CORNER
-
INVESTOR RELATIONS
- Financial Reports
- Investor Presentations
- Annual Reports
- Notices
- ESG Profile
- IEPF
- Investor Call Transcript
- Corporate Announcement
- Public Issue of NCD'S
- Qualified Institutional Placement
- Investor Relations Contact
- Familiarisation Programmes
- ISO CERTIFICATIONS
- Forms for Shareholder KYC-PAN-Nomination update
- Credit Ratings
- Statutory Advertisements
- CONTACT US
- Login

Online

India's 1st Completely Online Home Loan!
-
e-APPLY
-
e-SANCTION
-
e-DISBURSE
Start your eHome Loans Process Now!
Apply OnlineBig Budget Benefit: How the current budget is a boon for home buyers

- Home Loans Guide
- Mar 09, 2016
- VIEWS: 2309
With the yearly budget announced, first time home buyers are cheering and breathing a sigh of relief. Arun Jaitley, the Finance Minister of India, has stated that first time home buyers are allowed an additional Rs. 50,000 income deduction on home loan on top of the allocated Rs. 2,00,000 on interest repayment and Rs. 1,50,000 on principal repayment.
This deduction is only viable for first time home buyers on loans up to Rs. 35 lakhs on houses whose value does not exceed Rs. 50 lakhs. With this the effective interest rate on a housing loan of Rs. 24 Lacs for a house costing Rs. 30 Lacs will work out to only 4.12% against a headline yield of 9.55%. This means that for only Rs. 2,000 more in the form of interest cost in lieu of rent, a family can buy a house instead of renting one and can create a real asset.
This is a blessing for people looking to buy their first home due to the rise in prices of housing units in recent times. An individual looking to purchase a home is able to claim the interest payments as tax benefits from their home loans, which are currently capped at a maximum of Rs. 2 lakhs under the head ‘Income from House Property’. Along with interest payment, part of the home loan EMI can be claimed as principal payment deduction, which is currently capped at a maximum of Rs. 1.50 lakhs under Section 80C. This new rule has come as a boon for people looking to buy their first home and those in the process of applying for a loan. Home loans have never before been as attractive as they are now.
Related Articles:
- 10 tips for a best home loan experience
- Structuring Home Loans & Tax Exemptions
- Interested in a Home Loan? Here are the Latest Interest Rates
The post Big Budget Benefit: How the current budget is a boon for home buyers appeared first on Indiabulls home loans.

Top up home loan vs personal loan a comparison to determine the better choice for loans
Taking on a loan of any kind is a financial responsibility. It is a debt that needs to be repaid, in full, based on the tenure chosen by the borrower. Most banks, housing finance companies and non-banking finance companies offer a myriad of loans to finance the different needs of customers.
- Home Loans Guide
- Jul 23, 2019
- VIEWS: 8360

MCLR in Home Loan
The interest rate is one of the most important components of a loan, especially in the case of a high-value loan that lasts for 2 decades or more; the home loan.
- Home Loans Guide
- May 24, 2019
- VIEWS: 6097

Types of Home Loan Charges
Most people fulfil their wish of becoming homeowners by taking out a home loan. It is the easiest way to afford a property as one can pay for the house in monthly instalments.
- Home Loans Guide
- May 24, 2019
- VIEWS: 6958
No Comments
Subscribe
Most Viewed Blogs
Categories
- Home Loans Guide 125
- Home Renovation Loan Guide 3
- Home Loan Transfer Guide 14
- Home Extension Loans Guide 1
- Loan Against Property Guide 28
- Home Loan Interest Rates Guide 2
- Others Guide 8
- Home Decor & Lifestyle Guide 5
- Plot Loan Guide 3
- PMAY Guide 5
- Uncategorized Guide 1
- NRI Home Loans Guide 5
- Financial Resolutions Guide 1
- New Year Resolutions Guide 1
Archives
- Mar 2020
- Jan 2020
- Nov 2019
- Jul 2019
- Jun 2019
- May 2019
- Apr 2019
- Mar 2019
- Feb 2019
- Jan 2019
- Dec 2018
- Nov 2018
- Jul 2018
- Jun 2018
- May 2018
- Apr 2018
- Mar 2018
- Feb 2018
- Jan 2018
- Dec 2017
- Nov 2017
- Oct 2017
- Sep 2017
- Aug 2017
- Jul 2017
- Jun 2017
- May 2017
- Apr 2017
- Mar 2017
- Feb 2017
- Jan 2017
- Dec 2016
- Nov 2016
- Oct 2016
- Jun 2016
- Apr 2016
- Mar 2016
- Feb 2016
- Jan 2016
- Dec 2015
- Nov 2015
- Oct 2015
- Sep 2015
- Aug 2015
- Jul 2015
- Jun 2015