2 and 3bhk flat in new panvel under construction

Legal & Tax Benefits


While purchasing a Millennium Group property in Navi Mumbai, get a copy of the title report by the solicitor of the property. Make sure that there are no conditions written in fine print and that there are no specific reservations by the state government.

Look for specific clearance reports. For instance, if the construction is near a seafront, you will need to check for a Coastal Regulation Zone (CRZ) clearance. If the project is being constructed over or in the close vicinity of a heritage building, you must check for any heritage reservations for the premises. We at Millennium Group have already taken the required precautions and clearances to ensure that you do not get stuck with a property that is, or may get caught in any sort of disputes. Since, lack of clearance of titles also means that you will not be able to avail home loans.


Several permissions and approvals from relevant bodies are sought by Millennium Group before embarking on the construction of any project. Without these clearances, the construction may come under scrutiny and litigation. Here is a list of documents and approvals that the builder must possess for all building work to commence in Navi Mumbai/Panvel:

Commencement Certificate

Fire NOC

Height Clearance (Airport NOC)


Section 24 of the Income Tax Act

This section deals with deduction available on Interest paid on capital borrowed for the purpose of purchase, construction, repair, renewal or reconstruction of property. The purchaser is allowed to deduct an amount equivalent to the total interest payable on the housing loan from his/her taxable income within the same financial year.

It began with Rs 15,000 being the maximum amount eligible for deduction in the case of self-occupied property. This later got doubled to Rs 30,000, then increased to Rs 75,000, and later enhanced to a limit of Rs 1 lakh. Currently, the limit stands elevated to Rs 1.5 lakh.

So borrowers now will enjoy a deduction of upto 1.5 lakh on interest paid, on loans taken to purchase, construct, repair, renew or reconstruct property, on or after April 1, 1999.

This applies only if the property is acquired or constructed within 3 years from the end of financial year in which the capital was borrowed and is self - occupied. A substantial figure, by any account.


If taxable income is Rs 4. lakh

If interest payment during the first financial year is Rs 1.60 lakh

Taxable income then stands reduced to Rs 2.5 lakh (Rs 4 lakh - Rs 1.5 lakh (being the maximum tax deductable limit)

In this case, total tax will amount to Rs 24,720 (tax of Rs 24,000 + Education Cess Rs 480+ SHEC Rs. 240)

Tax saved will be Rs 46,350 (tax @30% on Rs 1.5 lakh plus 2% EC+ 1% SHEC, since purchaser is in the highest tax bracket)

Section 80C of the Income Tax Act

A deduction u/s 80C (2) (xviii) is available on repayment of principal during a financial year up to Rs. 1,00,000/-, this aforesaid limit is within the overall limit of Rs. 1 lakh specified in section 80C of the Income Tax Act. Stamp duty, registration fee or other such expenses paid for the purpose of transfer of such house property to the assessee is also considered under this amount. This deduction is from Gross Total Income.

Drop us a message

You're in the right place! Just drop us a message. How can we help?

Or see contact page

row house for sale in  new panvel

2 bhk flat in new panvel under construction

3bhk low budget flats inpanvel

new pre launch projects in panvel

resale property in panvel near railway station

ready to move flats in new panvel

2bhk flat in  new panvel

1 bhk resale flat in panvel

1 bhk flat in panvel railway station

1 bhk flat in panvel for sale

2 bhk flats in mansarovar new panvel

new pre launch projects in panvel

2 bhk flats resale in panvel

1 bhk flat in panvel sector 35

1 bhk flat in new panvel

1 bhk flat in panvel station navi mumbai

2 bhk flat in panvel for sale

1 bhk in millennium hilton

2 bhk flats in panvel for rent

2bhk flat sale in new panvel

2 bhk in new panvel

low budget flats in new panvel

2 bhk flat at panvel

2 bhk flats in new panvel near railway station

2 bhk flats for sale in panvel near by D-mart

panvel resale flats in millennium hilton

1bhk near by orion mall

new panvel map

real estate agents in new panvel

2 bhk resale flats in panvel opposite d-mart

resale property in new panvel

resale flat in panvel & new panvel

2 bhk flat in new panvel under construction

new panvel near by D-mart 

1 bhk flat on rent in  without brokerage

property in panvel

2 bhk flat in panvel upto 60 lakhs

flat in panvel below 55 lacs

2 bhk resale flats in new panvel

new panvel property rates

one room kitchen in new panvel

millennium hilton project in panvel

real estate agency panvelarashtra

1 bhk flat in new panvel for sale

low budget flats in new panvel near bus depo

1 bhk resale flats in new panvel

2 bhk in panvel

ready possession flats in panvel

new panvel property new projects

resale flats in 2bhk panvel

2 bhk flat resale in new panvel

new pre launch projects in panvel

flats in panvel below 50 lakhs

2 bhk flats resale at panvel

pre launch projects in panvel

2 bhk flats in panvel near railway station

ready possession flats in panvel

navi mumbai resale flats

1 bhk flat on rent in new panvel without brokerage

flats in panvel near railway station

2bhk low budget home in panvel

builders in panvel

new panvel property rates

real estate agency panvelarashtra

1 bhk resale flats in new panvel

navi mumbai property rates near by railway station

real estate agent in old panvel

navi mumbai resale flats

2 bhk flat in new panvel

1 bhk flat for rent in new panvel

new construction in panvel near by D-mart

2 bhk flat in kamothe for rent

1 bhk flat in new panvel for rent

new project in new panvel

low budget flats in new panvel near bus depo

under construction flats in panvel

resale row house in new panvel

1 rk resale flat in panvel

resale flats in new panvel

1 bhk resale flat in  new panvel

flat in panvel below 35 lacs 2 bhk flats in panvel near railway station row house for rent in new panvel 2 bhk flats in navi mumbai 2 bhk flat in panvel for sale without brokerage property in new panvel near railway station millennium groups project at panvel 2 bhk resale flat in old panvel new panvel resale flats 1 bhk flat in panvel upto 50 lakhs olx property in panvel flats in panvel near railway station new project in new panvel pre launch projects in new panvel 1 bhk flat for rent in new panvel resale flat in panvel & new panvel new panvel map 3 bhkresale flat in new panvel 1 bhk resale flat in new panvel 3 bhk in new panvel