Can I get loan for construction on my father’s land

[samkapoor77]

My father has an idle land on his name. I want to construct a bungalow on it. I wish to take home loan from SBI for constructing the house. Since land is on my father’s name and loan will be on my name, will the bank allow me to borrow?

[Sameer Kapoor]

Yes, the bank can approve your home loan application. But in that case you will not be eligible to take tax benefit on EMIs.

[Arun Kumar Mahapatra]

I want to take home loan in my name to construct house in my father land.whether I am eligible or not? If so then will get tax benefits or not

[Author]

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