Itax rebate on housing loan on rental property, hra rebate?

Yeah, u can.. if u rent out that property, u can claim entire interest on borrowed capital as deduction. U can also claim HRA exemption u/s 10(13A). But for this, u also need to show the rental income from the let out property.

Yeah, u can also claim deduction of pre-construction period interest as follows:

Pre-construction period is the period commencing on the date of borrowing and ending on

• March 31 immediately prior to the date of completion of construction/date of acquisition OR
• Date of repayment of loan, whichever is earlier

Interest for pre-construction period is deductible in 5 equal installments.

If the property is let out, then no limit for deduction of interest. But if property is going to be self occupied, then the limit is Rs.2 lacs provided the construction/acquisition of house is completed within 3 yrs from the end of FY in which the loan was borrowed.