Hunting high & low for properties in Baner?

Baner, one of the most preferred locations in Pune for housing and home buying.

Do you Agree?

Well! We do. Here is why you too might agree.

 Baner, as a location happens to be close to Hinjewadi area as well the Pune central region. It turns out to be the ideal location that people who are working in the IT Park in Hinjewadi look for while buying a home. Ideal location because of having office just a half an hour drive away and the frequent ply of buses and other transportation facilities.  Pune central region also located in close vicinity ensures casual hangouts in evening during free time with family and friends for some quality time.

With the advent of more real estate projects in the Baner location, it is grabbing attention of more and more investors and potential home buyers. The real estate market of Pune shall soon approach saturation, while locations like Baner are already flooded with many of the new residential as well as commercial projects and ventures by the top builders & developers of the city, the location still remains people’s favorite for a home and has the potential to still provide quality homes for home buyers.

Are you too hunting high & low for properties in Baner?

Well! As we mentioned in our previous posts as well, you can grab yourself a new property from the diverse range of residential projects that are at the ongoing stage or you may look forward to the attractive upcoming projects that many builders such as Naiknavare Developers Pvt. Ltd. which are planning to launch new ventures in the location. Thanks to the Real Estate Bill.

So, without further ado, you can get all set to buy a new home and have the keys to your dream home in time. 

How to claim tax exemption on Loan Principal and Interest?

We all plan to purchase properties when we are financially sound to pay the home loan EMI. However, not many of us are aware of the tax benefits that we can claim out of the home loan that we apply for while we buy a property. In our previous posts we have discussed about how you can claim HRA and tax benefits if you have a home loan for the property you have just purchased.

Naiknavare Developers

Today we are going to understand how you can claim tax exemption on loan principal and interest.

When it comes to tax breaks on the applied home loan, you are eligible to claim tax benefits only for the principal of the loan amount before the completion of your house. On the completion of your house, you are then eligible to claim tax benefits on the total interest paid till the date of completion of the house. In case where the house is let out, the entire interest paid on home loan can be deducted.

Tax Exemption on Loan Principal and Interest

The interest that is paid on a home loan is not deducted directly from the salary income for home loan. The calculation of income from house property is done for each house that the individual owns. A self employed person is eligible to avail tax benefit for the rent that he pays for his residence and can claim the deduction under section 80GG of Income Tax Act. Here, no HRA exemption is available in case of a self employed individual.

A tax payer can avail the following tax benefits on home loans:

1. If you have applied for a home loan and you want to repay the principal amount on home loan, then the principal amount will be deducted from gross total income. In case the house is let out, the deduction for the entire interest paid on home loan is available.
2. Tax benefit on interest payment. 
3. Additionally, interest paid on home loan during the pre-construction period, i.e., period prior to the financial year in which house is purchased or constructed can also be claimed as deduction. 

We shall discuss about how you can claim both, the HRA and the home loan tax benefits together in our upcoming post. Till then stay tuned!

Read More:

1. HRA and Tax Benefits from Home Loans?
2. Confused how home loans can get you Tax benefits?
3. Homes that are well connected!

The Slum Rehabilitation Brings Life to People, Naiknavare becoming Leader in Real Estate Industry

The developing city of Pune may have gone a long way. From the humble city, Pune becomes a favorite among entrepreneurs as they saw the potential of the city in terms of business. There are more people who have been into investing resources and already found success in Pune. The increasing number of people residing in the city also means an increase in the demand for temporary shelter and permanent residence.

Prathama - Ramindia Group

Naiknavare is a real estate developer that values their projects. They are focused in making the lives of the people better. It is not just about providing home, it is all about the services and the design they create to enhance the living condition of the residents of Pune. They consider each customer important because without them, they will not reach success and remain in the business for years. Their commitment of quality service and better lifestyle is among the pride of the company.

Prathama

Naiknavare also extends help their brothers in need. Their slum rehabilitation project change the lives of the thousands who have been living in the slums. The rehabilitation project uplifts the live of the people and giving them access to decent homes and better lifestyle.

The Ramtekdi slums are the pilot project of the company. Almost 15 acres of land was dedicated for this project along. The 11 story buildings will provide decent home for the thousands of dwellers in the slums. Access to various civic and social amenities will be provided to the residents. There will also be some extra housing units for migrants who wish to share common area with them. The income that will be generated from the migrants will then be used for the upkeep of the buildings.

Prathama - Naiknavare Developers

Because of the success of their slum rehabilitation projects, many other projects follow and more people will now have access to decent homes. More migrants will be given permanent spaces and can live comfortably in different parts of India. With their continuous service to their customers, they are now ready to take advantage of this rare opportunity to have a decent home that is affordable to everyone. The uplifting of the lives of those in the slums are now visible and their future is brighter.

The company is known for its projects in India. It has shaped the country and leads to the development of the nation. With their commitment to serve and preserve the people and its environment, Naiknavare remains the leader in Real Estate.