BoniMoon

As interest rates on housing loans have gone up and borrowers find repayment difficult, the silver lining is the income tax benefits they are eligible for. By planning one can reduce the tax burden with these benefits. Although many borrowers are aware of them, doubts and apprehensions prevail. Under section 24 of the Income Tax Act 1961, interest paid up to Rs.1.5 lakh a year on a home loan is set off as loss from salary or business income for self-occupied property. For rented out properties the entire interest paid is deductible from taxable income after computing the rental income. If the loan is taken for house renovation, then interest up to Rs. 30,000 a year is deducted.

Imagine a life where you can walk to work or shop from the comfort if your home, or where your children can hop-skip to school. Forget the long, frustrating commute, the honking horns, and the pollution because everything you need is close by. Idyllic one might say or too good too be true. But that is precisely by concept which forms the basic of the latest trend in property development the integrated township. Typically an integrated development has one or more centers of employment generation. In the Indian scenario these are mostly large IT/ITES parks but in the case of large developments, employment generation could be from a cluster of industries such as IT/ITES, manufacturing R&D and biotechnology. This is accompanied by residential facilities in the form of villas or town homes, Apartments Tripunithura . Large developments may aim to accommodate their entire workforce within their boundaries especially if the development is situated in a remote area. Usually integrated developments target 10 to 25 per cent of their working population with accommodation. A mid-size shopping mall and one or more hotels as well as serviced apartments are also found in most such developments. In the lexicon of the property development industry in Kerala “township’ usually refers to a collection of apartments and villas along with a few amenities. Several such projects are under way across Thiruvananthapuram and other parts of Kerala but an integrated township or development is much more.