Moving Up!
Upgrade to a bigger or better property with smart strategies
Why Upgrade?
Growing family needs more
space- Better location with improved
infrastructure
- Modern amenities and
facilities
- Leverage appreciated property
value
- Better lifestyle and social
status
Upgrade Strategy
-
1
Get current property valued
-
2
Calculate sale proceeds after loan closure
-
3
Determine upgrade budget including new loan
-
4
List current property while searching new one
-
5
Time both transactions to avoid bridge financing
Tax Benefits on Property Upgrade
-
Capital Gains Exemption
Save capital gains tax by investing sale proceeds in new property under Section 54
-
Home Loan Benefits
Claim deductions on new home loan under Section 80C and 24(b)
