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Old August 29 2012, 04:08 PM   #5971
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Quote:
Originally Posted by arunaggarwal View Post
It would be 79k and not 70k! You get standard deduction of 30% on the rental receipts!
Correeeeeect .

That 30% will be considered as Maintenance charges for the property and hence exempted from Tax.

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Old August 29 2012, 04:11 PM   #5972
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Originally Posted by rembrants View Post
Its not about first property or second...its about self use or let out. If you hav let out a property....u can deduct unlimited interest deduction as expenditure against the rental income and hence avoid paying tax on the rental income. If its a self occupied property there is a cap of 1.5 lk.
Is it necessary to actually let out the property or one can show a notional rental income based on market value to avail the tax benefit on the interest?
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Old August 29 2012, 05:39 PM   #5973
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Originally Posted by sumjee View Post
Is it necessary to actually let out the property or one can show a notional rental income based on market value to avail the tax benefit on the interest?
Yes it can be done if you hold one more property or live with your parents etc. Basically you have to prove that you are not staying in the house and claiming this benefit at the same point in time!
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Old August 29 2012, 10:29 PM   #5974
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This thread makes no sense from start till now. RE bulls theory has not been proven wrong since 2009. Prices have increased only.

Being a sticky, if this thread is allowed to continue for some more years, then may be it could come out true. "even a broken watch tells right time twice a day"
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Old August 29 2012, 11:54 PM   #5975
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Default Nothing will burst....

Guys,

After going thru thousands of posts on this forum I have understood that....

If one has the money for down payment... If one gets the desired loan... then no person can resist the temptation of buying his first/dream home....

Bears on the forum who give all kind of logic and reasons of recessions, affordability, of being slave to EMI ... etc etc... is complete bull s**t....

A smart guy will do this maths right.. visit the forum to check what people have posted about his dream project and then make the move....

After buying they continue to visit this forum to check if property prices have risen and if their flat location has developed further or not...

So the bottom line is...
people are smart... they do not need the experts of this forum to tell them right / wrong time to buy property.... they buy and come back to the forum just to feel proud of their decision....
nothing more ...nothing less...
i know that i am being honest.... so...take it ... or leave it...
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Old August 30 2012, 12:06 AM   #5976
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Originally Posted by tarcap View Post
Guys,

After going thru thousands of posts on this forum I have understood that....

If one has the money for down payment... If one gets the desired loan... then no person can resist the temptation of buying his first/dream home....

Bears on the forum who give all kind of logic and reasons of recessions, affordability, of being slave to EMI ... etc etc... is complete bull s**t....

A smart guy will do this maths right.. visit the forum to check what people have posted about his dream project and then make the move....

After buying they continue to visit this forum to check if property prices have risen and if their flat location has developed further or not...

So the bottom line is...
people are smart... they do not need the experts of this forum to tell them right / wrong time to buy property.... they buy and come back to the forum just to feel proud of their decision....
nothing more ...nothing less...
i know that i am being honest.... so...take it ... or leave it...
tarcap... the so called advice of this forum is only this much

- Do not over-leverage. Look at all the liabilities you have before putting the money.
- Housing sector is not a good idea for 'investment' as of now. If you are buying for self use, do not treat that as a financial investment. It is just an emotional investment.

I think this is pretty sensible and good take away from the forum
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Old August 30 2012, 03:18 AM   #5977
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Quote:
Originally Posted by punerebuyer View Post
tarcap... the so called advice of this forum is only this much

- Do not over-leverage. Look at all the liabilities you have before putting the money.
- Housing sector is not a good idea for 'investment' as of now. If you are buying for self use, do not treat that as a financial investment. It is just an emotional investment.

I think this is pretty sensible and good take away from the forum
Nicely worded.
One has to be pragmatic when deciding on realty since investment is huge.
It's better to know all points of view, even if most of them are crap or have myopic vision.

Even if the take away is 10 percent of entire discussion, its worth it since its generally the one of the biggest investments of one's life .
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"...though I can hide my cold gaze and you can shake my hand and feel my flesh gripping yours and maybe you can even sense our lifestyles are probably comparable:
I am simply not there."
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Old August 30 2012, 04:11 PM   #5978
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Icon20 Govt rate of land in wakad ?

Hi All,

Just now talked to a sales person from Akshar Elementa wakad and he is quoting 4151 psf, He says that government rate of property is 3800 psf in wakad, we are charging 300 psf for construction.......wat a load of crap.

What i want to ask is, is there something like this that base property rates are being decided by government ? If yes, from where can we check actual rates ?
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Old August 30 2012, 05:33 PM   #5979
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Originally Posted by harrypoter View Post
Hi All,

Just now talked to a sales person from Akshar Elementa wakad and he is quoting 4151 psf, He says that government rate of property is 3800 psf in wakad, we are charging 300 psf for construction.......wat a load of crap.

What i want to ask is, is there something like this that base property rates are being decided by government ? If yes, from where can we check actual rates ?

Govt. rates are based on actual carpet (not terrace carpet for balcony) area and builders are charging on salable area which was approx 30% to 50% more than carpet
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Old August 30 2012, 06:30 PM   #5980
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Quote:
Originally Posted by punerebuyer View Post
- Housing sector is not a good idea for 'investment' as of now.
is this said sarcastically ?

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