Maximizing Tax Benefits When Investing in Birla Evara
Investing in real estate is not just about securing your dream home—it’s also about making smart financial decisions. One of the biggest advantages of buying a property like Birla Evara on Sarjapur Road, Bangalore, is the opportunity to maximize tax benefits while building long-term wealth.
Here’s how you can make the most of your home loan tax benefits when investing in a premium project like Birla Evara.
- Claim Interest Deduction under Section 24(b)
The interest paid on your home loan is eligible for a tax deduction of up to Rs. 2 lakh per year under Section 24(b) of the Income Tax Act. This is applicable if the property is self-occupied. If the home is rented out, there’s no upper limit on the interest deduction, which is perfect for those planning to invest in Sarjapur Road’s rental market.
- Deduct Principal Repayment under Section 80C
Under Section 80C, buyers can claim up to ₹1.5 lakh annually on the principal portion of your home loan EMI. This deduction is available only after the construction of the property is completed, making it crucial to track the possession timeline of projects like Birla Evara.
- Additional Deductions for First-Time Buyers
If you are a first-time homebuyer, you may also qualify for additional benefits under Section 80EE or 80EEA, depending on your loan amount and property value. While Birla Evara is a premium project, checking eligibility for these sections can lead to significant extra savings.
- Pre-Construction Interest Claim
If you’ve taken a home loan for an under-construction apartment in Birla Evara Bangalore, the interest paid during this phase can also be claimed in five equal installments after possession. Keep track of your payment schedule to file these deductions correctly.
Birla Evara, located on the fast-developing Sarjapur Road in Bangalore, isn’t just a luxurious address—it’s a financially sound investment when paired with the right tax strategy. Consult with a tax advisor to ensure you maximize all available benefits and make the most of your real estate investment.
