![\"budget](\"https:\/\/adda.io\/blog\/wp-content\/uploads\/2017\/02\/01-022.jpg\")
<\/a><\/p>\nHere are few important Announcements on Housing Sector:<\/p>\n
- \n
- Infrastructure status is given to Affordable Housing Sector<\/li>\n
- Affordable Housing Defined: Projects with flats upto 30sqm in metros & 60sqm in other cities (carpet area).<\/li>\n<\/ul>\n
The following will benefit developers and should bring down costs for Buyers:<\/p>\n
- \n
- Better availability of loans for developers, with affordable housing getting infrastructure status.<\/li>\n
- 100% deduction for profits in affordable housing sector, approved during June 16 – Mar 19 & completed in 3 years<\/li>\n
- Exemption from service tax on construction of affordable houses<\/li>\n<\/ul>\n
Announcements\u00a0which effect Home Owners:<\/b><\/p>\n
- \n
- Income of Rs. 2.5 lakh -Rs. 5 lakh to be taxed at 5 %. Additional surcharge of 10% for income between 50 Lakhs to 1 Crore<\/li>\n
- Deduction for additional interest of 50,000 per annum for loans up to 35\u00a0 lakh\u00a0 sanctioned\u00a0 in\u00a0 2016 for\u00a0 first\u00a0 time\u00a0 home\u00a0 buyers, where house cost does not exceed 50 lakh<\/li>\n
- Tax to be levied for unoccupied houses a year after getting completion certificate.<\/li>\n
- Capital Gains Tax holding period reduced from 3 years to 2 years for real estate<\/li>\n
- National Housing Bank will refinance individual loans worth Rs 20,000 crore in 2017-18.<\/span><\/li>\n<\/ul>\n
Towards RWAs<\/b><\/p>\n
- \n
- Govt will undertake important reforms by providing legal framework for dispute resolution and re-negotiations in PPP projects and public utility contracts, bringing in more development in urban neighborhoods.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"
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- Govt will undertake important reforms by providing legal framework for dispute resolution and re-negotiations in PPP projects and public utility contracts, bringing in more development in urban neighborhoods.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"