Mark Twain is said to have remarked, “Buy land, they’re not making it anymore.” He simply put words to the thoughts of real estate investors. There are several stories of flats/plots from the ’50s which were bought for a few thousand rupees being sold for a few crores today. That is the kind of stuff that keeps the legend of real estate investment alive and kicking. Is real estate the best investment vehicle compared to gold or equity shares or the perennial favourite, fixed deposits? For starters, it is important to first define “real estate investment”.

Buyers should know about the truths in joint home loan…..Home loan eligibility is not the only advantage of getting loan with your family member. There are some other profits and some restrictions too on borrowing cash together. Since here is not ample material offered on this topic, buyers must place together a truth sheet on getting a mutual home loan. Here are some primary facts of mutual loan policy: Co-Applicants: A co-applicant is the one who mutually takes a loan together with loaner. It is essential to recognize the difference between a co-aspirant and a co-proprietor. A co-landlord comprises all the landlords of the assets. Banks insist that all co-proprietors be compulsorily co-applicants. Therefore, all co-applicants might not be co-proprietors but all co-proprietors have to compulsorily be co-applicants. Paperwork: In case of a joint home loan, both the aspirants have to submit all brochures needed for handling the loan like copy of PAN, address proof, income certificate, bank transactions and brochures linking to the property. Loan eligibility: Upsurge in the loan eligibility is one among the largest profits of a mutual loan. The investors will consider the profits of all the aspirants thus, rising the loan eligibility rate. Repayment liability: While you are a co-applicant, the financier also creates you responsible to reimburse the loan amount. Therefore, the liability of reimbursing the loan is also on the co-applicant shoulder. If one of the debtors fail to pay, the liability of balancing the equated monthly installment (EMI) mechanically moves to the other borrower. Tax benefits: While you are similarly liable for reimbursing the loan, it is but logical that you acquire to enjoy the tax profits too. Home loan debtor is qualified for tax profit of the main re-payment of up to Rs. 1-1.5 lakh of interest re-imbursement. In terms of a combined home loan, both aspirants are qualified to enjoy these profits proportional to the amount of contribution towards re-imbursement. Hence, it is essential to know that combined home loans do be associated with a great transaction of advantages together with proportional responsibilities. Thus if you need to improve your loan eligibility, approach your relations but ensure you have a perfect policy to reimburse the higher loan amount prompt.