PROPGUIDE − A Complete Property Guide
#happyhome

Budget Roundup: Affordable Housing Gets Infrastructure Status

Loading video...

Description

The biggest news comes from affordable housing developers as Finance Minister Arun Jaitley announced that Affordable housing will be given infrastructure status. Apart from this, carpet area instead of the built up area of 30 and 60 sq mt will be counted in affordable housing. The 30 sq mt limit will apply only in case of municipal limits of 4 metropolitan cities. For the rest of the country, including in the peripheral areas of metros, limit of 60 sq mt. will apply.

Meanwhile, allocation for Pradhan Mantri Awas Yojana for rural areas has also been increased from Rs 15000 to Rs 23000 crore with a promise to complete 1,00,00,000 houses by 2019 for homeless and those living in kaccha houses.

Finance Minister Jaitley also announced a reduction in the holding period for computing long-term capital gains from transfer of immovable property from 3 years to 2 years. Also, the base year for indexation is proposed to be shifted from 1.4.1981 to 1.4.2001 for all classes of assets including immovable property. Meanwhile, capital gain tax exemption will be given for persons whose land is being pooled for the creation of the capital city of Andhra Pradesh under the Government scheme.

For builders for whom constructed buildings are stock-in-trade, tax on notional rental income will only apply after one year of the end of the year in which completion certificate is received

For easing FDI norms, Foreign Investment Promotion Board will be abolished in 2017-18 and further liberalisation of FDI policy is under consideration. FIPB offers a single window clearance for applications on Foreign Direct Investment (FDI) in India that are under the approval route. The sectors under automatic route do not require any prior approval from FIPB and are subject to only sectoral laws. 

Tags: Arun Jaitley, Video, GST, affordable housing, income tax


#Budget2017: 3 Cheers For Capital Gains Tax Provisions

A positive move, provisions for capital gains tax stands tweaked, much to the benefit of the housing industry.

February 07 2017

+ Click Here To Read This Article

#Budget2017: GST Rollout Likely Within Deadline

Finance Minister Arun Jaitley has said that the GST Council has finalised its recommendations and the preparation of IT system for GST is also on schedule.

February 01 2017

+ Click Here To Read This Article

The Bright Patches In India’s Real Estate Story In Q3

According to a PropTiger DataLabs report for the third quarter (Q3) of the financial year 2016-17 (FY17), home sales across nine major cities declined 20 per cent over the previous quarter. This, the report says, is the highest fall in sales in the past 12 quarters.

February 16 2017

+ Click Here To Read This Article

Demonetisation Halts Real Estate Recovery Q3 Was Expected To Usher In

According to a PropTiger DataLabs report for the third quarter (Q3) of the financial year 2016-16 (FY17), home sales across nine major cities declined 20 per cent over the previous quarter. This, the report says, is the highest fall in sales in the past 12 quarters.

February 15 2017

+ Click Here To Read This Article

#Budget2017: It Is Time For Real Estate Sector To Bounce Back

Though the government had already announced reforms like Real Estate Regulatory Bill with its benefits for both developers and consumers, this Union Budget was expected to bring some more relief to the table.

February 09 2017

+ Click Here To Read This Article

The Play Of Words: Jaitley’s Optimistic Approach Is Infectious

The overall tone of Finance Minister Arun Jaitley’s Budget Speech was of hope. His optimistic approach towards what is achievable is nothing less than contagious and the common man is going to feel it, too.

February 02 2017

+ Click Here To Read This Article

#Budget2017: Affordable Housing To Get Infrastructure Status

After Finance Minister Arun Jaitley presented the Union Budget 2017-18, Prime Minister Narendra Modi said the housing sector stood to gain immensely from the new announcements.

February 01 2017

+ Click Here To Read This Article

#Budget2017: Arun Jaitley Banks On Infrastructure To Drive Growth

In the Union Budget for 2017-18, Finance Minister Arun Jaitley has not only increased the Budgetary support for the infrastructure but also announced several measures to boost investments.

February 01 2017

+ Click Here To Read This Article

Here are the week's top news stories from the real estate sector.

Here are the day's top news stories from the real estate sector.

It is not only the space cruch that has made the concept of compact homes popular. There are...

Kolkata stood at the 16th position in Mercer’s cost of living survey.

Service tax is payable only on property purchase directly from developers and is not required in...

The Goods And Services Taxes has clearned a proposal to charge a cess of 15 per cent on luxury cars...

A look at five premium localities in India’s information technology capital, Bengaluru.

Noida offers a perfect blend of residential apartment societies, luxury villas and commercial...

A building code is a set of norms that govern construction of buildings by stipulating minimum...

PropGuide simplifies complex real estate jargons for you.

Prime lending rate is the interest rate at which banks lend to its most credit worthy...

Proptiger has released it's quarterly review report on India's real estate sector. Ankur Dhawan,...

Subscribe Now

To stay tuned with real estate updates

Pick:

x +

Drop Your Query Here


Top