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Can we repay two loans by selling existing flat?- Property Hotline
Posted
October 7, 2016
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October 7, 2016
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1:49Now PlayingExpert: PV Subramanyam, Home finance expert.
Question: I plan to take a second home loan for a flat in Hyderabad. I own a home in Mumbai with a mortgage on it. Should I sell this flat and repay both loans?
Answer: You can sell off the Navi Mumbai flat and use that money to buy the Hyderabad flat. Repaying loan is not a reason that you will save tax - buying a house is.
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