I am working in Chennai for take home of 36k, gross 44k (after tax, 1lakh savings). Now I am planning to borrow house renovation loan. But the house is in my native Kasaragod Kerala and in the name of my father. This is house is attached with agriculture property. Kindly advise me whether this amount will qualify for tax exemption, or if I want to avail should I transfer the house in my name? Any planning can be done on this. nattubhat@gmail.com

The deduction of interest from house property is given u/s 24 of the I T Act.You should note that following conditions are required to be satisfied for availing deduction of interest u/s 24 from house property income:

1. The house has to be in name of borrower of loan.

2.The loan has to be utilized for construction or purchase of house or renovation or repair or reconstruction of the house.

3. The house must be completed within three years of loan for availing higher deduction of Rs 1.5 lakh. Otherwise , one will get only Rs 30,000.

4. The house must be self occupied . Only exception is that if on account employment ,one is not able to self occupy the house , still his annual value shall be taken as nil and he will get deduction of interest.

Therefore, as long as the house you are referring is in fathers name , you will not get the deduction or any benefit. You can get it transferred in your name , then you can avail the relief.
Also note that there is no deduction u/s 80C for renovating or repairing the house.