Home Loan Repayment
Myself Rahul and my wife Pooja purchase total 4 numbers Residential flats through 4 nos Home Loans and Details are -
1- Purchased 1st 3 BHK 1235 Sq ft through 20 Lakh Home Loan from HDFC Ltd and Home Loan main applicant is Pooja and Co applicant is Rahul but Property is in name of Pooja Only.
2- Purchased 2nd 2 BHK 1220 Sq ft through 26.30 Lakh Home Loan from ICICI Bank Ltd and Home Loan main applicant is Pooja and Co applicant is Rahul but Property is in name of Rahul Only.
3- Purchased 3rd 2 BHK 1160 Sq ft through 28 Lakh Home Loan from ICICI Bank Ltd and Home Loan main applicant is Rahul and Co applicant is Pooja and Property is in name of Rahul and Pooja in Joint name.
4- Purchased 4th 2 BHK 980 Sq ft through 24 Lakh Home Loan from Axis Bank Ltd and Home Loan main applicant is Rahul and Co applicant is Pooja and Property is in name of Rahul and Pooja in Joint name.
Total Home loan disbursed amount in INR 98.30 Lakh and in last 3 years we have part payment of around 50 lakh in all 4 loans and now current outstanding in all 4 loan is around 48.30 Lakh.
Now , we have sale 3 BHK 1235 sq flat in 50 Lakh and all amount 50 Lakh received in My wife account only and we want to pre close all our 4 Home loans so kindly advise-
there is a capital gain for around 8 lakh also but at present My wife want to deposit 48.30 Lakh in all 4 Home Loans to close all accounts but one property 1220 sqt 2 Bhk is in single name ( i.e. in name Rahul Only )
Kindly advise that wife can give money to pre close any home loan which property is in name of Husband only and as per Income Tax can we close all 4 Home Loans and It will not create any problem for us or we have to pre close only one by one after selling all 4 flats.
we have purchased these flat for investment only so kindly advise the course of action so that we will not face any problem in future.