Housing loan interest on letout property for the part of the

i have availed a housing loan from a bank for Rs.60 lakhs. and  i am paying loan istallement from february 2012 and i received my house completion certificate only in november 2012, and i imediately let it out to some tenant at RS.20000 per month.

my view is 

can i show that 20000*5 =100000, as  income from house property  for year 2012 &12

and showing the interest of around 600000 of current year and apportined interest for 20000

i.e.total 620000 as    loss from house property

then my income from house property is:::

    wholly let out

 rent received                     100000

less: repairs @ 30%            30000

total income                        70000

less: interest                    (620000)

loss from house property   (5,50,000)

is this calculation correct.

please help me out if there are judgements supporting this,

or if any mistakes please let me know

waiting for ur valuable suggesions.