Budget 2025: NAREDCO pitches for hike in deduction on housing loan interest payment
2 days ago

Budget 2025: NAREDCO pitches for hike in deduction on housing loan interest payment

Hindustan Times  

National Real Estate Development Council on Monday pressed for a hike in deduction on housing loan interest payment from ₹2 lakh to ₹5 lakh and accord infrastructure status to the housing sector in the forthcoming Budget. National Real Estate Development Council on Monday pressed for a hike in deduction on housing loan interest payment from ₹ 2 lakh to ₹ 5 lakh and accord infrastructure status to the housing sector in the forthcoming Budget. Talking to reporters after attending the customary pre-budget meeting with Finance Minister Nirmala Sitharaman, National Real Estate Development Council Chairman Niranjan Hiranandani said that efforts are needed to be made to increase the flow of funds to the affordable housing sector. "There was also a talk relating to.housing to be considered as infrastructure status, how the funding could be made available so that more affordable housing and those things can also come up," he said.

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History of this topic

Nirmala Sitharaman announces PM-Awas Yojana Urban 2.0 for housing for all
5 months, 2 weeks ago

Nirmala Sitharaman announces PM-Awas Yojana Urban 2.0 for housing for all

India Today  

Finance Minister Nirmala Sitharaman announced PM Awas Yojana-Urban 2.0 aimed at housing for all while presenting Budget 2024. Finance Minister Nirmala Sitharaman says, "Urban Housing: Under the PM Awas Yojana-Urban 2.0, the housing needs of 1 crore poor and middle-class families will be addressed with an investment of Rs 10 lakh crores. In the 2024 Budget, Finance Minister Nirmala Sitharaman …

Budget 2024 expectations: Naredco proposes higher home loan deduction limit, SWAMIH 2.0 and more
5 months, 3 weeks ago

Budget 2024 expectations: Naredco proposes higher home loan deduction limit, SWAMIH 2.0 and more

Hindustan Times  

Real estate developers’ body the National Real Estate Development Council has suggested that the finance minister consider increasing the tax exemption on interest on self-occupied property loans to ₹5 lakh from the current limit of ₹2 lakh to augment housing demand and sought tax incentives from the government to boost supply of affordable housing stock. NAREDCO has suggested that the …

Real Estate Budget 2024: Focus on infrastructure, new housing scheme for the middle class
11 months, 1 week 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 …

Housing scheme to be launched for deserving middle class: Sitharaman in Budget speech
11 months, 1 week ago

Housing scheme to be launched for deserving middle class: Sitharaman in Budget speech

The Hindu  

Giving a boost to affordable housing, the government on Thursday announced a new scheme to help “deserving” sections of the middle class buy or build their own houses. Union Finance Minister Nirmala Sitharaman also gave a push to rural housing and said two crore more houses would be made under the flagship Pradhan Mantri Awas Yojana -Rural. Ms. Sitharaman said …

Real Estate Budget 2024: Govt to launch housing scheme for the middle class
11 months, 1 week 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 …

Union Budget: Allocation for housing scheme for rural poor increased by 12%
1 year, 11 months ago

Union Budget: Allocation for housing scheme for rural poor increased by 12%

Hindustan Times  

The budgetary allocation for the Pradhan Mantri Awas Yojana-Gramin or PMAY-G for providing housing for the rural poor has been increased by 12% to ₹54,487 crore even as the allocation for the urban version of the scheme has been slashed to ₹25103 crore from ₹28708 crore. The housing schemes are among the most popular social welfare policies such as Ujjwala …

Budget 2023: Here’s what the real estate sector is expecting from FM Sitharaman
1 year, 11 months 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, …

Union Budget 2023-24: Why favourable policies for realty sector can assist in growth, economic sustainability
1 year, 11 months ago

Union Budget 2023-24: Why favourable policies for realty sector can assist in growth, economic sustainability

Firstpost  

In a post-pandemic arena, unlike many other sectors, the Real Estate sector has rebounded strongly. Direct Tax relief measures Simply put, the expectations of home buyers can be categorised into three main buckets – enhancement of personal tax deductions, rationalisation of capital gains tax regime, and introduction of incentives. Given the trend in rising prices in the RE sector, due …

Real estate recommendations for the Union Budget 2023-24
1 year, 11 months ago

Real estate recommendations for the Union Budget 2023-24

The Hindu  

The limit of principal deduction on housing loans under Section 80C of the Income Tax Act 1961 stands at ₹1.5 lakh per annum. It is recommended that this be increased to at least ₹4 lakh per annum in the next Union Budget. The interest deduction limit under Section 24 of the IT Act on housing loan stands at ₹2 lakh …

Budget 2023: Real Estate Sector Seeks Higher Tax Exemption On Home Loan Interest From Govt
1 year, 11 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 …

Pradhan Mantri Awas Yojana-Urban Extended Till December 2024; Cabinet Gives Nod; Check Details
2 years, 4 months ago

Pradhan Mantri Awas Yojana-Urban Extended Till December 2024; Cabinet Gives Nod; Check Details

News 18  

The Cabinet, chaired by Prime Minister Narendra Modi, has extended the Pradhan Mantri Awas Yojana-Urban scheme till December 31, 2024, wherein financial assistance is to be provided for the completion of already sanctioned 122.69 lakh houses till March 31, 2022, according to an official statement. Therefore, based on the requests from the states/ UTs, the Union Cabinet decided to extend …

Union Cabinet Approves Continuation of Flagship 'Pradhan Mantri Awas Yojana-Urban' Scheme Up to 2024
2 years, 4 months ago

Union Cabinet Approves Continuation of Flagship 'Pradhan Mantri Awas Yojana-Urban' Scheme Up to 2024

News 18  

The Union Cabinet, chaired by the Prime Minister Narendra Modi, on Wednesday approved the continuation of the government’s flagship housing scheme Pradhan Mantri Awas Yojana-Urban till 2024. The Cabinet gave its nod to the proposal of Ministry of Housing and Urban Affairs wherein financial assistance is to be provided for the completion of already sanctioned 122.69 lakh houses till March …

Budget 2022: Additional supply side reforms with higher incentives for home buyers can boost realty’s performance
2 years, 11 months 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: Cut in home loan interest rate, infra upgrades may make PM’s housing for all a reality
2 years, 11 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 …

Budget: Additional Deduction of Rs 1.5 Lakh on Home Loan Interest Extended Till March 2022
3 years, 11 months ago

Budget: Additional Deduction of Rs 1.5 Lakh on Home Loan Interest Extended Till March 2022

News 18  

New Delhi: The government on Monday extended the additional tax deduction of Rs 1.5 lakh on interest paid on housing loan for purchase of affordable homes by one more year to March 31, 2022, a move aimed at boosting demand in the sluggish real estate sector. "In the July 2019 Budget, I provided an additional deduction of interest, amounting to …

‘Housing for all’ scheme gets ₹18,000 cr
4 years, 1 month 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 …

Real Estate Sector Budget 2019: Govt hikes tax break on interest paid on home loans to Rs 3.5 lakh for purchase of first house
5 years, 6 months ago

Real Estate Sector Budget 2019: Govt hikes tax break on interest paid on home loans to Rs 3.5 lakh for purchase of first house

Firstpost  

Nirmala Sitharaman raised tax deduction limit to Rs 3.5 lakh on interest paid on housing loan for the purchase of first home worth up to Rs 45 lakh. New Delhi: Finance minister Nirmala Sitharaman on Friday raised tax deduction limit to Rs 3.5 lakh on interest paid on housing loan sanctioned during this fiscal for purchase of first home worth …

Rental, affordable housing get a boost in Budget 2019
5 years, 6 months ago

Rental, affordable housing get a boost in Budget 2019

Live Mint  

The government will introduce a new model tenancy law to boost the fragmented rental housing market and has proposed further tax incentives in line with its continued effort to achieve the ‘Housing for All’ target by 2022, finance minister Nirmala Sitharaman said in her maiden Union Budget speech. “Current rental laws are archaic and do not address the relationship between …

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