One of the top priorities of the government:The housing ministry has started pre-Budget discussions with stakeholders in the real-estate sector and state governments, with an eye on affordable housing in urban areas.
“We are formalizing a proposal to be sent for consideration of the finance ministry on extending fiscal incentives to the real-estate sector for giving a much-needed push to housing in urban areas,” a senior government official told The Indian Express.
The real-estate sector has been asking for extension of tax holiday for five years under Section 80-IB(10) for housing projects approved after March 31, 2007. “The realty firms must be encouraged through fiscal incentives to construct small dwelling units at affordable prices.
The increase in the construction activity would simultaneously give a fillip to other industries such as cement, iron and steel besides generating employment opportunities,” said an industry chamber representative.
The chambers have demanded that limit for deduction of interest paid on loans for purchase or construction of houses be raised from Rs 1.5 lakh to Rs 3 lakh."
To read more, please, visit - Indian Express
An Affordable Housing - A Big Deception?I am sure, most of us will agree with View Seth, India. He says:
The term Affordable Housing is a big deception by builders!
It clearly shows till the recession hit, the builders where cheating the public with high rates which was inflated based on their greed!
Public should not be fooled by this new terminology, we should remember these so called affordable housing is in out skirts of cities with no proper infrastructure which caters to lower and middle class segment.
Why cant they make affordable properties inside the cities?
Subscribe for Free!To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog
For my blogs on real estate projects near Hinjewadi, real estate investment, advertising and other related topics, please, visit and join my Ravi Karandeekar's Pune Real Estate Blog Group