interest of SOP

Yes, deduction of interest over home loan is allowed maximum of Ts. 2 lakhs (per year), and balance amount is carried forward upto 8 years.

In case of Self Occupied Property (SOP) the limit of interest on loan itself is 2L. You cannot claim more than that and so there is no question of carry forwarding of balance interest for 8 years.

What Mr. Dhirajlal Sir said is true if it's Let Out property. Because as per latest amendment You can set off only upto 2L and carry forward balance for 8 years.
However in this case limit is provided by sec 24 itself and hence no question shall arise for carry forwarding balance interest amount.

correct me if I'm wrong Mr. Dhirajlal Sir

Then i can claim Interest amount of Rs. 150000/- (Rs.3,50,000-Rs.2,00,000) as deduction in next year. 

No, it is self occupied property.
You can claim only 2Lakh this year, no Carry forward.
In your case, 1.5L will be lapsed and cannot be claimed in subsequent years also

ok if i pay Interest of Rs.200000/- next year can i claim it as deduction ?

Yes, you can claim it as deduction next year

in which section of income tax it is said interest over Rs. 200000/- is lapsed ?

sec 24 itself restricts it till 2 Lakhs for SOP

yes of course i agreed, but section 24(b) says interest amount for SOP is maximum of Rs. 200000/- but no where it said per year.

Sec 24 starts with "Income charged under head House Property shall be computed after making following deductions.."
General understandings of the Act makes it to be calculated per year when you prepare your computation of Income

In respect of self-occupied residential house property, interest incurred on capital borrowed for the purpose of acquisition or construction of house property shall be allowed as deduction up to Rs. 2 lakhs. The deduction shall be allowed if capital is borrowed on or after 01-04-1999 and acquisition or construction of house property is completed within 5 years.

But in your original query you had specified assume construction has been completed.
So I didn't specified anything on the point of 5 years