Here’s a look at Income Tax changes impacting homebuyers from April 1
4 days, 2 hours ago

Here’s a look at Income Tax changes impacting homebuyers from April 1

Hindustan Times  

Budget 2025 had some good news for homeowners and homebuyers. If a homeowner does not occupy the property for specific reasons, i.e., due to employment or business or profession carried out at any other place, then the annual value of an additional property so occupied is also considered as NIL as per Budget 2025, which was not the case earlier,” says Hemal Mehta, Partner, Deloitte India. It will effectively let homeowners own two self-occupied properties without any additional income tax under the heading ‘income from house property’. Proposed Amendment to Section 194-I of the Income-tax Act, 1961 As per the existing provisions of Section 194-I of the Income-tax Act, 1961, any person responsible for paying rent to a resident is required to deduct tax at source if the total rental payment exceeds ₹2,40,000 in a financial year. No Tax Up to An Income Of ₹ 12 lakh Since there will be no tax up to an income of ₹12 lakh as proposed in the budget, starting April 1, people who have a salaried income of ₹12 lakh will have an additional tax saving of ₹80,000 under the new tax regime.

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History of this topic

Budget 2025: Good News for Homebuyers – Discover the Benefits
1 month, 2 weeks ago

Budget 2025: Good News for Homebuyers – Discover the Benefits

The Hindu  

The Union Budget 2025 has emerged as a game changer for home buyers, with numerous tax breaks and incentives. The Impact of Tax Cuts on Home Loan Eligibility: Budget 2025 The revised income tax slabs and reduced tax rates could enable individuals to save as much as Rs 10,000 monthly, depending upon their income level. Considering a home loan with …

Tax Relief, Easier Regulations, And More Funds: How Budget 2025 Has Enhanced Affordable Housing
1 month, 3 weeks ago

Tax Relief, Easier Regulations, And More Funds: How Budget 2025 Has Enhanced Affordable Housing

ABP News  

By Neeraj K Mishra As we step into 2025, the national budget holds immense significance for various sectors of the economy, and perhaps none more so than real estate. However, the 2025 budget has presented a series of measures that could significantly reshape the landscape of affordable housing, benefiting millions of middle-class families across the country. Tax Relief and Salary …

Homeowners can now claim tax relief on two properties. Budget 2025 eases the tax burden
1 month, 3 weeks ago

Homeowners can now claim tax relief on two properties. Budget 2025 eases the tax burden

Hindustan Times  

Budget 2025 has brought good news to the middle class, exempting those earning up to ₹12 lakh under the new tax regime. Additionally, there are two key changes aimed at easing the compliance burden: Budget 2025: Homeowners can now claim nil valuation for two self-occupied properties instead of one. Tax-Free Second Home – Homeowners can now claim nil valuation for …

How Union Budget 2025 could be a ‘game changer’ for Bengaluru's property market
1 month, 3 weeks ago

How Union Budget 2025 could be a ‘game changer’ for Bengaluru's property market

Hindustan Times  

Union Budget 2025 is likely to prove a 'game changer' for Bengaluru's real estate market, which will witness significant growth due to the measures announced by Finance Minister Nirmala Sitharaman. According to industry leaders in Bengaluru, this year's budget focuses on infrastructure development and urban rejuvenation which will boost the real estate market in the city. Union Budget 2025 LIVE: …

Builders hail ₹15K cr fund for stalled projects, but feel Budget falls short of their expectation
1 month, 3 weeks ago

Builders hail ₹15K cr fund for stalled projects, but feel Budget falls short of their expectation

Live Mint  

New Delhi, Feb 1 Realtors' apex bodies CREDAI and NAREDCO on Saturday said the industry was expecting a lot from the Union Budget including, a hike in exemption on interest paid on home loans and sops to boost affordable housing segment, even as the two associations hailed the move to set up ₹15,000 crore fund to complete stalled housing projects. …

Budget 2025: What is SWAMIH Fund 2 scheme, how will it benefit middle-class families?
Trending News
1 month, 3 weeks ago

Budget 2025: What is SWAMIH Fund 2 scheme, how will it benefit middle-class families?

Live Mint  

Real sector Budget 2025: Aiming at completing stuck housing projects and provide relief to homebuyers whose apartments have been delayed for years in the country, Finance Minister Nirmala Sitharaman on February 1 – while reading out the Union Budget 2025-26 – announced that a SWAMIH Fund 2 will be established with ₹15000 crore allocation to help complete an additional 1 …

Budget 2025: What is SWAMIH Fund 2 scheme, how will it benefit middle-class families?
Trending News
1 month, 3 weeks ago

Budget 2025: What is SWAMIH Fund 2 scheme, how will it benefit middle-class families?

Live Mint  

Real sector Budget 2025: Aiming at completing stuck housing projects and provide relief to homebuyers whose apartments have been delayed for years in the country, Finance Minister Nirmala Sitharaman on February 1 – while reading out the Union Budget 2025-26 – announced that a SWAMIH Fund 2 will be established with ₹15000 crore allocation to help complete an additional 1 …

What Budget 2025 means for homebuyers: More money in hand, sweetener on self-occupied properties to boost real estate
1 month, 3 weeks ago

What Budget 2025 means for homebuyers: More money in hand, sweetener on self-occupied properties to boost real estate

Hindustan Times  

To boost disposable income and increase affordability for middle-class homebuyers, the Finance Minister announced on February 1 that there would be no income tax payable up to ₹12 lakh - i.e., up to ₹12.75 lakh including standard deductions - under the new regime. To boost disposable income and increase affordability for middle-class homebuyers, the Finance Minister on February 1 increased …

Budget 2025: Govt. announces ₹15,000 cr fund for stressed housing projects; framework to push GCCs in Tier 2 cities
1 month, 3 weeks ago

Budget 2025: Govt. announces ₹15,000 cr fund for stressed housing projects; framework to push GCCs in Tier 2 cities

Live Mint  

Bengaluru: The Union government has proposed allocating ₹15,000 crore for the much-awaited second tranche of the Special Window for Affordable and Mid-Income Housing fund, which will have a particular focus on completing stuck housing projects. The SWAMIH Fund 2 will be established as a blended finance facility with contribution from the government, banks, and private investors, finance minister Nirmala Sitharaman …

Budget 2025: What homebuyers want from Finance Minister Nirmala Sitharaman
1 month, 3 weeks ago

Budget 2025: What homebuyers want from Finance Minister Nirmala Sitharaman

India TV News  

Budget 2025: Homebuyers were not happy with the Budget 2024-25 as it did not address concerns like high interest rates on home loans and the annual increase in stamp duty charges. Budget 2025: Here's what homebuyers expect - Homebuyers are hopeful that this Budget will have a higher budget allocation for government initiatives like the Pradhan Mantri Awas Yojana. Meanwhile, …

Budget 2025: Will Budget 2025 fulfill the expectations of home buyers? Experts put these demands
2 months ago

Budget 2025: Will Budget 2025 fulfill the expectations of home buyers? Experts put these demands

India TV News  

Finance Minister Nirmala Sitharaman will present the budget in Parliament on February 1 with the preparations in full swing. These major reforms are expected in 2025 Home loan exemption limit should be increased: CREDAI NCR President and Gaur Group CMD Manoj Gaur said that real estate is a mirror of the country's economic progress. Talking in the same tune, Signature …

Budget 2025 wishlist: This is what homebuyers look forward to from the finance minister
2 months ago

Budget 2025 wishlist: This is what homebuyers look forward to from the finance minister

Hindustan Times  

With almost five lakh housing units stuck in various stages of construction across cities, homebuyers hope that Budget 2025 will focus on giving them more money and incentivising those who have not received possession of their homes for years despite having paid almost 80%- 100% of the amount to the real estate developer. They hope the government will allocate more …

Budget 2025: From Infrastructure status to reforms in Affordable Housing, here’s what real estate sector demands
2 months, 1 week ago

Budget 2025: From Infrastructure status to reforms in Affordable Housing, here’s what real estate sector demands

Live Mint  

With the Union Budget 2025-26 just weeks away, the real estate sector is calling for bold reforms to reignite growth and address pressing challenges. Affordable Housing: Revival on the Cards Affordable housing, once a cornerstone of India’s real estate growth, has seen a sharp decline in both demand and supply post-pandemic. “Reintroducing the Credit-Linked Subsidy Scheme under PMAY and reinstating …

Budget 2024: 5 Things the real estate sector looks forward to from the finance minister
8 months ago

Budget 2024: 5 Things the real estate sector looks forward to from the finance minister

Hindustan Times  

Budget 2024 will be presented by Finance Minister Nirmala Sitharaman today and the real estate sector hopes that the government will focus on affordable and middle income housing in the Budget. The real estate sector hopes that the government will push for affordable and middle income housing in Budget 2024. The government should raise the deduction limit for interest payment …

Maharashtra Budget 2024 allocates ₹7425 crore for construction of 35 lakh affordable homes
8 months, 3 weeks ago

Maharashtra Budget 2024 allocates ₹7425 crore for construction of 35 lakh affordable homes

Hindustan Times  

Maharashtra government’s Interim Budget for 2024-2025 has set a target to construct 35 lakh affordable homes in the next five years through various housing schemes, including Pradhan Mantri Awas Yojana, for which it has allocated ₹7425 crore. Maharashtra government’s interim budget for 2024-2025 has set a target to construct 35 lakh affordable homes in the next five years through various …

Real Estate Budget 2024: Focus on infrastructure, new housing scheme for the middle class
1 year, 1 month ago

Real Estate Budget 2024: Focus on infrastructure, new housing scheme for the middle class

Hindustan Times  

Finance minister Nirmala Sitharaman said on February 1 that the government will launch a housing scheme for the middle class to buy or build their own houses and it will be constructing close to 2 crore homes under the PMAY rural scheme, a move that is expected to give a push to the Housing for All agenda. Real estate experts …

​Budget 2024: New housing scheme to be introduced for middle class
1 year, 1 month ago

​Budget 2024: New housing scheme to be introduced for middle class

Op India  

Union Finance Minister Nirmala Sitharaman on Thursday presented the 5th and last budget of the Modi government 2.0. One of the key takeaways of Budget 2024 is the consistency in the extension of housing scheme benefits for the rural population and the middle class. “Two crore more houses will be taken up in the next 5 years to meet the …

Real Estate Budget 2024: Govt to launch housing scheme for the middle class
1 year, 1 month ago

Real Estate Budget 2024: Govt to launch housing scheme for the middle class

Hindustan Times  

The government will launch a housing scheme for middle class to buy or build their own houses, finance minister Nirmala Sitharaman said in her Budget 2024 speech on February 1. Government to launch ₹ 2 crore more housing units in the next five years under the PM Awas Yojana : Budget 2024 “Our Government will launch a scheme to help …

Budget 2024-25:NAREDCO seeks funds for completing residential projects under GST
1 year, 3 months ago

Budget 2024-25:NAREDCO seeks funds for completing residential projects under GST

Live Mint  

In its pre-budget recommendations, realtors body NAREDCO has sought ₹50,000 crore more fund under SWAMIH to complete stalled housing projects across the country, saying this will benefit consumers as well as the industry. NAREDCO said the SWAMIH fund has played a critical role in completing many stuck projects, leading to renewed interest among investors, both foreign and domestic, in the …

NAREDCO seeks ₹50,000 crore more under SWAMIH Fund in Budget 2024
1 year, 3 months ago

NAREDCO seeks ₹50,000 crore more under SWAMIH Fund in Budget 2024

Hindustan Times  

Real estate developers' body National Real Estate Development Council has recommended to the finance ministry to come up with the second tranche of the Special Window for Affordable and Mid-Income Housing fund with a corpus value of ₹50,000 crore in the upcoming budget for the financial year 2024-2025, saying the move is expected to benefit both home buyers as well …

SWAMIH fund completes over 20,000 homes since 2019. Know what's its purpose
2 years ago

SWAMIH fund completes over 20,000 homes since 2019. Know what's its purpose

Hindustan Times  

The Special Window for Affordable and Mid-Income Housing investment fund has completed over 20,000 homes worth ₹12,000 crore since the initiative was launched in 2019. SWAMIH fund completes over 20,000 homes since its inception. Launched in November, 2019, with an objective to complete stressed and brownfield properties registered under Real Estate Regulatory Authority, SWAMIH investment fund is a government-funded initiative …

A Budget for All: Ahead of 2024 general elections, Modi sarkar gets it right
2 years, 1 month ago

A Budget for All: Ahead of 2024 general elections, Modi sarkar gets it right

Firstpost  

There’s something for everyone in the Union Budget 2023-24 – the poor, the tribals, and India’s women. Prime Minister Awas Yojana, which aims to provide affordable housing to the poor in urban areas, has been allocated a whopping Rs 79,950 crore, a 66 per cent rise from Rs 48,000 crore in the Financial Year 2022-23. In last year’s Budget, Rs …

Budget 2023: Here’s what the real estate sector is expecting from FM Sitharaman
2 years, 1 month ago

Budget 2023: Here’s what the real estate sector is expecting from FM Sitharaman

Hindustan Times  

The Indian real estate market saw a strong comeback post pandemic with the residential sector picking up demand amidst healthy economic growth, a Mint report states. The real estate sector is looking forward to budget 2023 to drive the demand for housing through tax relief and lesser stamp duty According to Gurmit Singh Arora, national president of Indian Plumbing Association, …

Budget 2023: Will FM Sitharaman Make Property Purchase Easier for Homebuyers?
2 years, 1 month ago

Budget 2023: Will FM Sitharaman Make Property Purchase Easier for Homebuyers?

News 18  

The Indian housing sector did reasonably well in 2022. The budget could include increased funding for the Pradhan Mantri Awas Yojana, a government programme that provides affordable housing to the urban and rural poor. Announce tax incentives Under Section 24 of the Income-tax Act of 1961, homebuyers can currently claim an income tax deduction for the interest paid on their …

Budget 2023: Real Estate Sector Seeks Higher Tax Exemption On Home Loan Interest From Govt
2 years, 2 months ago

Budget 2023: Real Estate Sector Seeks Higher Tax Exemption On Home Loan Interest From Govt

ABP News  

The real estate sector exhibited a strong growth in 2022 after the decline in the pandemic and is now hopeful of continuing the upward trajectory. Across the nation, real estate developers are primarily expecting support in terms of higher tax exemption on the home loan interest under Section 24 up to Rs 5 lakhs from an existing Rs 2 Lakhs …

Budget 2022: Additional supply side reforms with higher incentives for home buyers can boost realty’s performance
3 years, 1 month ago

Budget 2022: Additional supply side reforms with higher incentives for home buyers can boost realty’s performance

Firstpost  

Union Budget 2022-23: Notwithstanding the various industry-specific amendments to the insolvency resolution laws, the implementation of the bankruptcy process for real estate companies remains a challenge In the recent past, schemes such as the Pradhan Mantri Awas Yojana have played a pivotal role in improving homeownership. Extend tax holidays for affordable housing beyond March ‘22 Incentives of extra deduction of …

Budget 2022: More Tax Benefits on Home Loans, Affordable Housing, Real Estate Changes to Expect
3 years, 2 months ago

Budget 2022: More Tax Benefits on Home Loans, Affordable Housing, Real Estate Changes to Expect

News 18  

Finance minister Nirmala Sitharaman will present the Union Budget for 2022-2023 on February 1, 2022. Hence, the real estate sector is seeking for tax sops, a review of the definition of affordable housing, reduction of long-term capital gains tax for real estate and new provisioning for rental housing, among others. 5 lakh along with removing the Rs 45 lakh cap …

Budget 2022: Cut in home loan interest rate, infra upgrades may make PM’s housing for all a reality
3 years, 2 months ago

Budget 2022: Cut in home loan interest rate, infra upgrades may make PM’s housing for all a reality

Firstpost  

Union Budget 2022-23: Among the direct benefits, Budget 2022 might bring a potential relief to direct home buyers with an increased limit of home loan interest deduction for tax rebate from Rs 2 lakh to Rs 5 lakh As the Union Budget is around the corner, the anticipations from across the industries are on a rise. Building on this, the …

Union Budget 2022-23: What real estate sector, homebuyers expect from govt
3 years, 2 months ago

Union Budget 2022-23: What real estate sector, homebuyers expect from govt

India Today  

The real estate sector has a host of expectations from the government as Finance Minister Nirmala Sitharaman gets ready to announce the Union Budget 2022-23. TAX RELIEF ON HOME LOANS This year the real estate sector wants the government to go beyond the usual expectation of single-window clearance and industry status. There is a specific need for income tax relief …

Budget 2021: What high-income earners need to know
4 years, 1 month ago

Budget 2021: What high-income earners need to know

Live Mint  

The absence of any changes to the tax rates on the personal tax front under Budget 2021 has indeed given a sense of relief to many high-income taxpayers, who were worried on whether they would be saddled with an additional Covid-related cess or surcharge. The taxpayers would sigh a relief however in case of purchase of a residential house property …

‘Housing for all’ scheme gets ₹18,000 cr
4 years, 4 months ago

‘Housing for all’ scheme gets ₹18,000 cr

Live Mint  

Bengaluru: An additional outlay of ₹18,000 crore for Pradhan Mantri Awas Yojana, over and above the ₹8000 crore allocated in the budget, by finance minister Nirmala Sitharaman on Thursday may help in giving an extra push towards the government’s ‘housing for all’ mission. “ ₹18,000 crore will be provided over the Budget Estimates for 2020-21 for Prime Minister Awas Yojana …

Tax slabs for home buyers unchanged
5 years, 8 months ago

Tax slabs for home buyers unchanged

India TV News  

Finance Minister Nirmala Sitharaman on Friday presented her maiden budget in the Lok Sabha. In a major push to home buyers, the finance minister announced there would be no changes in the tax slabs. Earlier during the Interim Budget 2019, then Finance Minister Piyush Goyal had announced relief from taxing the notional rental income for the second self-occupied property. The …

Budget 2019: Aim at policies to reintroduce income tax deduction on principal and interest on a second home loan
6 years, 1 month ago

Budget 2019: Aim at policies to reintroduce income tax deduction on principal and interest on a second home loan

Firstpost  

Keeping up with the tradition, the Narendra Modi-led government ahead of the general election will present an interim Budget on February 1, which is widely expected to contain certain sops for farmers and middle class. To stimulate housing demand in FY20, the Budget should aim at policies to reintroduce income tax deduction on principal and interest on a second home …

Budget 2017: Experts hail infrastructure status to affordable housing
8 years, 1 month ago

Budget 2017: Experts hail infrastructure status to affordable housing

Firstpost  

Experts believe it will provide ample push for the sector as developers will now be able to get access to preferential and lower borrowing rates from banks Mumbai: Hailing the government’s decision to grant infrastructure status to affordable housing segment, experts believe it will provide ample push for the sector as developers will now be able to get access to …

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