Is it sensible to buy resale flats?

Comments 0
The immediate possession can provide tax benefit from the first EMI itself. Reuters The immediate possession can provide tax benefit from the first EMI itself. Reuters
SummaryThe resale flats are an affordable solution to the accommodation needs of the salaried individuals.

behind the sale will help in uncovering the problems and issues with the property, if any.

Considering the surround environment, proximity to important areas and amenities available in the vicinity also affects the final decision of purchasing a resale flat.

Actual Profitability

Nothing can be more profitable than purchasing a flat at a price much lesser than the market rate. Moreover, the resale flats are fully constructed and come with a ready-to-move-in tag. One of the biggest benefits that the resale apartments provide is the tax benefit after gaining possession. A deduction of Rs. 1 Lakh on the principal of EMI under 80C and a tax exemption of not more than Rs. 1.5 Lakh of home loan interest under 24B make the resale all the more profitable.

Hence, if all the other factors work in your favour, it might be a good idea to invest in a resale flat. It helps save a good amount of money, while saving time otherwise spent in waiting endlessly for a new project to complete.

BankBazaar.com

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...