Interest on loan as cost of flat

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Shailendra Kumar Saxena (Querist)
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03 May 2024 Please advise. I purchased a flat with another person for 30 lacs. Other person contributed 15 lacs, I paid 10 lacs and took a loan of 5 lacs over that flat and contributed. Now both contributed 15 lacs each. I am the one who is paying interest on loan. At the time of sale, can I claim this interest as my contribution in this flat and ask for more percentage?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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03 May 2024 cost of funding does not change the percentage of ownership unless there is an agreement to that effect between parties.

Shailendra Kumar Saxena

Shailendra Kumar Saxena (Querist)
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03 May 2024 Please clarify. There is no agreement. In my opinion, I cannot claim interest as cost of flat as other party has nothing to do with this interest matter. It is my personal. Am I correct?
The cost will remain 30 lacs and not 30 lacs+ interest.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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03 May 2024 yes. how you fund an investment has nothing to with the percentage of ownership.

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