Interest on Home Loan Subsidy

[s1joshi]

Hi

There are talks of rebate on home loan interest being chalked out from 2011-12 ...but even if we remain optimistic that this rebate will continue, Many of us who took loan before Oct 2007 may loose out claiming rebate on interest on home loan if we do not get timely possession , As the clause states

" The acquisition/construction should be completed within 3 years from the end of the financial year in which capital was borrowed. "

I am sure there would be several of us who have been paying lot of interest, with the hope that we would be able to claim the rebate, and this delay might increase the effective cost of apartments for us.

Regards
Seema