hoam loan

yes. but i want to know 

is it necessary that home loan should be taken in name of the co owner who wishes to take deduction?

&

in case of flats alloted by builders before their construction and payment being made in advance and construction linked instalments would such pre and post construction clause apply?

To claim benefit of Home loan interest, it is essential that property should be owned by the borrower. If the property is in the name of any one and loan is taken by other , interest will not be allowed. As mentioned it is jointly owned property and both are the borrowers also i.e one is borrower and other is co borrower the benefit of the interest can be claimed . 

If percentage of ownership is not defined and the first borrower wants to take full benefit of interest it is quite possible. It is essential that installment should be paid from his/her account.