How is the Budget ? Especially for housing sector?

 How is the Budget ? Especially for housing sector?

 How is the Budget ? Especially for housing sector?

When every sector has been affected in the economy that is affected by Corona, then the housing sector is also not untouched.

But the real estate sector is excited by the steps taken in the budget in housing, especially in the area of affordable housing.

The measures announced in the budget for this area are being labeled as Sanjeevani.

Benefit will be increased by increase in residency limit of NRI

                      Benefit will be increased by increase in residency limit of NRI National Chairman of Credai Zakshya Shah says that the residency limit for NRIs has now been reduced to 120 days instead of 182 days for NRIs. This will encourage them to invest more in real estate. Along with this, the establishment of the Infrastructure Debt Financing Institution to finance infra projects with a capital of five lakh crores will facilitate the financing of new projects of metro / highway

Economy has got Sanjeevani

Housing.com Group CEO Dhruv Agarwal says that at the moment there is a sharp improvement in the customer sentiment for the purchase of property. Now the introduction of Covid-19 Vaccine has started. In such a situation, the move to increase the benefit of additional tax deduction of Rs 1.5 lakh on the interest of home loan in the budget by March 31, 2022 will act as a lifeline for the housing property sector. The move would prove to be effective, especially for the affordable housing segment, which would also benefit from the decision to extend the tax holiday a year further for an affordable housing project to increase supply. 

Rental housing will also get a boost

He says that the announcements made by the Finance Minister for Rental Housing will help in promoting real estate and will reduce many of the pressure points present in the rental housing market. It will also help migrant workers to a great extent and help them to live in metros and other big cities during financial difficulties caused by the epidemic. However, the real estate industry's long-standing demand, expanding the definition of affordable housing to include homes worth more than Rs 45 lakh in major metro cities, is included within this segment, It was not given a place in the budget.