“We hail the budget speech presented by Hon Finance Minister, Mr. Arun Jaitly. The budget is pragmatic, wide-ranging and inclusive given the emphasis on infrastructure Development”
Puraskar Thadani | Publisher & Editor | Property For Sale Magazine
The Budget clearly lays focus on key areas of core sector growth, inclusion, fiscal far-sightedness and tax streamlining. We sincerely applaud the decisions made to boost the sector specially for affordable category.
Major push for the first time home buyers in the form of deduction for additional interest of Rs. 50,000 per annum for loans up to Rs. 35 lakh. Raise of HRA upto 60000 is really commendable and would be directly favourable for middle income group.
With giving 100% deduction for profits to an undertaking from a housing project for flats upto 30 sq. metres in four metro cities and 60 sq. metres in other cities, approved during June 2016 to March 2019. Also, Removal of Dividend Distribution Tax (DDT) would pave the path of reality of REITs. Another one the exemption of service tax on construction of affordable houses up to 60 sq. Metres. These reforms will surely help the investors and developers.
However, we were expecting to get an infrastructure status in the budget. This would have allowed the sector reap some more benefits in terms of funding.