Published on Tue, Jul 07, 2009 at 13:29 | Source : CNBC-TV18
Updated at Tue, Jul 07, 2009 at 14:56
Like this story, share it with millions of investors on M3
0
Like this story, share it with millions of investors on M3
Budget impact on real estate: BMR Advisors view
The realty sector, embattled by the economic downturn, hoped for revival initiatives from the Budget. The expectations were for ‘infrastructure status’ to the housing sector and restatement of the tax holiday for affordable housing projects.
The realty sector, embattled by the economic downturn, hoped for revival initiatives from the Budget.
The expectations were for 'infrastructure status' to the housing sector and restatement of the tax holiday for affordable housing projects. To propel demand, the sector was expecting an increase in the limit of interest on deduction for housing loan and a corresponding increase in the tax deduction limit for the principal repayment. Real Estate Mutual Funds, an important capital contributor for the sector, require tax pass through status in accordance with global best practices. This need was equally expected to be addressed in Budget
