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Shekar (Consultant)     18 February 2014

Home loan for 2 brothers on a gift deed

Hello Sir,

My father has a 30*40 land. Me and my brother want to construct a house on this land and we both want to take home loan from a bank to avail tax benefit in salary. Prior to this, we are planning to take the property as a gift deed from our father under joint ownership/registration. My question is will the bank provide home loan to both of us( me and my brother ) under the joint registration/ownership ???

If the above mentioned is not possible, then please let me know the alternate solution ???



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 1 Replies

mahendra (d)     19 February 2014

Yes yu can apply for loan from nationalised banks after the gift deed from your father provided that  it should be in joint  deed .


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