(3)The deduction under sub-section (1) shall be subject to the following conditions, namely:—(i)the loan has been sanctioned by the financial institution during the period beginning on the 1st day of April, 2016 and ending on the 31st day of March, 2017;(ii)the amount of loan sanctioned for acquisition of the residential house property does not exceed thirty-five lakh rupees;(iii)the value of residential house property does not exceed fifty lakh rupees;(iv)the assessee does not own any residential house property on the date of sanction of loan.
