#Budget- #2014: Highlights – Happier times ahead The union budget 2014 has brought back smiles on faces of end-users and developers alike. The announcement in the union Budget 2014 allowing foreign direct investment (FDI) in projects of 20,000 sqm from an earlier threshold of 50,000 sqm and raising the cap on #FDI from $5 million to $10 million with a three-year lock-in period after completion would have positive ripple effect on the housing. With a special allocation of Rs 7,060 crore to develop 100 smart cities as satellite towns of larger cities the Govt. has brought out a blueprint for the future development. These cities will not only serve the growing #residential housing demand but these would also address the issue of burgeoning pressure on limited resources of land, water, roads, sewage systems, power and other amenities in existing cities. From the customers point of view; increase in the #incometax deduction limit under Section #80C from Rs 1 lakh to Rs 1.5 lakh and in the deduction limit on interest payment for housing loans from Rs 1.5 lakh to Rs 2 lakh would lead to a vastly improved sentiment in the housing markets. The Budget has also given indirect benefits for the residential sector by increasing the individual income tax exemption limit to Rs 2.5 lakh. This will increase disposable income of individuals and help them service home loans better. #Civitech #Realty #Realestate #Budget2014 #FDI #80C
Posted on: Fri, 18 Jul 2014 05:06:12 +0000