Pre-Contruction interest is deductible in 5 installments from the FY in which construction is completed.
If house is let out than there is no limit on claiming deduction for Interest (including 1/5th portion of pre-construction Int. & Interest on loan taken for repairs)
But if property is self occupied than maximum deduction allowed is max Rs. 1.5 lacs.
Max amount for Int . on loan for repairs is Rs. 30,000/-