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POSTED BY ON August 29, 2012 11:09 pm COMMENTS (4)
Hi
we have sold one property for 20L. and i consulted one auditor for this also.
I have two options either to buy a house in two years / construct one in three years . Till that time the money can be deposited in the Capital gain savings account/desposit.
or I need to invest in 54 EC bonds which has 3 yr lock in.
My doubts
1. we sold it on aug 05. He told till jan 5 i can enjoy by putting that to short term Fd and after six months if i dont have the idea of investing in property i can put that money in 54 EC bonds or if i have the plan of buying the house i can deposit in the capital gain savings account but within 3 yrs jan 2015 i should have constructed one house.
Is this correct or not?
2. what is the Interest rates on the capital gain savings / deposit account ?
3. At the end of the tenure in case i am not buyng any proeprty wht will hapen? They deduct tax and give back the amount right?
Please guide me and clear my doubts.
Regards
Vignesh
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Dear Ashal
We already have one property in chennai. and Now the sold property is residential house. So i can comfortably invest in the second house. I can put in another 20L. Not a loan. our ancestoral savings which given from my grandfather.
How do you see the real estate growth in banglaore?
Now a days it is very hard to find out a builder who can give the house in the fixed time frame.
Plan:
Get one house and invest the rent into mutual funds via Mutual funds.
this is the simple plan i am having.
40L invested in the house gives me a return of 10 percent in 15 years. (Including the rent) amounts to 1.3 cr.
Rent i invest regularly invest in the SIP which gives me a return of 12 percent amounts to 40L / or else I can split the rent income one to the ppf and other into SIP . that is also fine.
40L home need to give a return of 1.7 cr at the end of 15 years.
More points to add:
My father is a pensioner. So We dont have a tight situation if we invest in real estate.I have taken account the emergencies. Both of my parents are covered under the central govt RELHS.
Please share your views on the above calculation.
Regards
Vignesh
Dear Ashal
1. We already have one property in chennai. and Now the sold property is residential house. So i can comfortably invest in the second house. I can put in another 20L. Not a loan. our ancestoral savings.
How do you see the real estate growth in banglaore?
Now a days it is very hard to find out a builder who can give the house in the fixed time frame.
Plan:
Get one house and invest the rent into sip of mutual funds.
this is the simple plan i am having.
Regards
Vignesh
Dear Vignesh, I ‘ll not comment on renting & investing the rent in MFs via SIPs. It’s your choice. I’m limiting my reply to taxation part & how to save it?
In my opinion, please opt for a ready possession house right now. it may cost you a bit more but you ‘ll get the possession immediately. Obviously the location ‘ll be better than under construction one & the income (rent) ‘ll also start immediately. The problem of waiting for possession from the builder ‘ll not be in this case to save tax.
Thanks
Ashal
Dear Vignesh, the cut off date ‘ll be 4th Aug 2014 for that 2Y window to purchase ready built house or 4th August 2015 for to be constructed house.
Do you already have another house or not? Also was this property in question a plot or land or house?
Please answer.
Thanks
Ashal