Section 80EEA Eligibility

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Ratheesh (Querist)

15 October 2024 Dear Sir,

I have a few queries regarding the eligibility for the 80EEA exemption:

1. What is the maximum property value to qualify for the 80EEA exemption?

2. The stamp duty value of the property must not exceed Rs. 45 lakhs. How can we calculate the stamp duty value of the property ?

3. The property value is around Rs. 1.50 crore. Does this affect eligibility ?

4. Is there any limit on the loan amount under Section 80EEA ?

Please clarify the above questions.

Thanks in advance!

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

15 October 2024 1. Agreement value should not exceed 45 lakhs rupees.
2. "stamp duty value" means value adopted or assessed or assessable by any authority of the Central Government or a State Government for the purpose of payment of stamp duty in respect of an immovable property. (Also known as CIRCLE RATE)
3. Yes, not eligible.
4. As such no, but as per banking regulations maximum of 80% of value of the property.
5. One more condition is the loan should have been sanctioned by the financial institution during the period beginning on the 1st day of April, 2019 and ending on the 31st day of March, 2022.

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