Yogi Zone

Useful articles for your finance management by our team of experts

Joint Home Loans

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Question: I already have HL of 10lacs to repay. Is it a good idea to invest in another property (2bhk apt/site) with joint Home Loan. I have 2lacs in hand to start investment. Please suggest.

Answer: Firstly, the decision to buy a second house or not is entirely yours. A house is always considered a great investment as the value of land only appreciates in the long run.

In case you are going to go for a joint  house loan, the entire interest paid during a financial year is tax deductible apart from the principal deduction one is entitled to under section 80C. Each co-owner cum co-borrower will be allowed separate deductions under the IT Act subject to the overall limit of Rs 1 lakh per annum per individual under section 80C and Rs 150,000 per annum per individual under section 24b (in case of self-occupied property).

Warm Regards,


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