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Best option for children to build a house on father's land

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Best option for children to build a house on father's land

Last updated: January 29 2008
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  • Best option for children to build a house on father's land

    My father owns a plot of land. He would like to authorize my sister and me to build a house on that land, so that we can occupy one floor each. My sister and I would like to avail of a house loan for the construction. How should we proceed on this, so that the cost/tax implication is minimum? Is there any advantage if he authorizes my wife instead of me, to build the house?
    Appreciate your inputs!
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