Independent House

If you want to live alone with your family and not have several neighbors as in an apartment, then you must choose an independent house. You must choose the property and then you can have an independent house or a villa constructed on it. The independent house or a villa is going to cost you much more than an apartment.

Tax benefits of an Independent house

Your repayment of the principal amount of the home loan (EMI principal), up to INR 1.5 lakh per annum, and is eligible for a tax deduction under Section 80 C. You are eligible for a tax deduction of INR 2 lakhs per year, on the interest you pay for your home loan, if your property is self occupied under Section 24.

Why buy an Independent House/Villa?

Joy of Independence

Your neighbors cannot overhear your private conversations, if you have an independent house.

You earn more

You can build and develop more floors and rent them out. You earn a higher income, if you rent out your home.

The Customization Benefit

You can build your house, just the way you want. You have the freedom of design. You can also keep pets at

Save on Tax

Save on Tax You save on tax, if you take a home loan to buy your house. You save both on the principal and the interest.

Check these documents while buying an Independent house

Title Deed

This document is the most important, as it establishes ownership over the land and thereby the house. It also helps to trace the past ownership of the land. It is your responsibility to check the title deed and ensure that there are no legal disputes associated with the property.

Sale Deed

A sale deed of the plot of land gives the seller the right to sell. It transfers the ownership of the plot of land from the seller to you. Make sure that the seller of the plot of land has the sale deed (the right to sell the land to you).

DC Conversion

You have to make sure that your plot of land has been converted from agricultural land to Non Agricultural land. This is also known as the land use conversion (DC converted land).
Only a DC (Deputy Commissioner) can convert the agricultural land to a non agricultural land and this land is called DC converted land.

Encumbrance Certificate

You need to check the encumbrance certificate which states that the property is free from any outstanding loans or a loan liability. You need to check for the past 30 years to ensure that the property you are purchasing is free from any encumbrance.