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Hindustan Times (Chandigarh) - Estates - - HT ESTATES - HARSH ROONGTA Harsh Roongta is a SEBI reg­is­tered in­vest­ment ad­viser. He can be con­tacted on

We are four broth­ers and sis­ters. My fa­ther had a house reg­is­tered in his name in Delhi. I have sold that house and pur­chased an­other one in Mum­bai. Does this vi­o­late any prop­erty law or does it in­volve any tax im­pli­ca­tions? - RK Gupta

There can­not be a vi­o­la­tion of any prop­erty law un­less you have sold the in­her­ited prop­erty with­out le­gal au­tho­ri­sa­tion from the other le­gal heirs. You need clear­ance and au­tho­ri­sa­tion from other le­gal heirs of the said prop­erty be­fore you sell it. There will be cap­i­tal gains tax payable by you and the other heirs on their in­di­vid­ual shares in the in­her­ited prop­erty. If the cost of your new house is more than the long-term cap­i­tal gains, then there are no tax im­pli­ca­tions for you.

I have taken a home loan of ` 15 lakh from State Bank of In­dia. Along with the loan, the bank told me it is manda­tory to go for both its life in­sur­ance and gen­eral in­sur­ance schemes. Are th­ese cov­ers manda­tory? Ad­di­tion­ally, I want to bring down my in­ter­est rates as per the lat­est RBI guide­lines. How­ever, my bank is re­luc­tant to do so, say­ing they are yet to get a cir­cu­lar from the RBI. What is the pro­ce­dure to bring down my home loan rate? – AP Singh

Banks can­not manda­to­rily tag their in­sur­ance of­fer­ings along with loans. This is specif­i­cally pro­hib­ited by reg­u­la­tion. But banks can make the cover it­self manda­tory in which case you will need to take th­ese poli­cies in­de­pen­dently from the mar­ket. In the mar­ket, bet­ter and cheaper poli­cies are avail­able even from SBI Life In­sur­ance it­self. If you want to re­duce your rate just shift loan to an­other lender. That will en­sure you get the lat­est in­ter­est rate on your loan.

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