(1) Can I take the home loan to construct the home in my native?
(2) If it is permissible, then can I build two or three floor building and give it for rent?
(3) From the rented money can I pay the home loan?
(4) Since I am employee of a software company, can I show this home loan for tax redemption?
Answer
(Fatwa: 359/273/H=1434)
(1) The ruling regarding taking home loan for constructing home in native place is the same which was written in previous fatwa.
(2) The ruling of three or four storey building is the same which was written.
(3) There is no harm if it was paid in this way.
(4) It is not lawful to produce fake papers. And by producing original documents within legal process whatsoever concession is gained it shall not be termed haram or sin. However, the curse of dealing interest based loan is different.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband