#budget2016 provides a boost to affordable housing : Dr. Anil Kumar Sharma, CMD of Amrapali Group @ficci_india #VikasKaBudget
Dr. Anil Kumar Sharma, CMD of Amrapali Group and Ex- President of CREDAI-NCR on Budget 2016.
"Dr. Anil Kumar Sharma, CMD of Amrapali Group and Ex- President of CREDAI-NCR has shared his take on Budget 2016 and said, Under Housing Sector, finance minister has taken necessary and important steps to boost the affordable housing. This is a reason, he has proposed to give an additional deduction of Rs. 50,000 on home loan interest to first time home buyers in order to achieve the mission ‘Housing for all – 2022’.
The exemption of service tax on the construction of small houses below 60 Sq Mtr. is also an appreciable step. Other than this, Dwelling units constructing in next financial year with sizes 30 Sq Mtr. in four metro cities and 60 Sq Mtr. in other tier-II cities will also get exemption.
There is no change in the income tax slab, however, there is a small relief upto the income of Rs. 5 lakh and on the same side rebate on HRA has increased to 60,000 to attract the new buyers with keeping view in mind to increase their investment power to purchase their own home.
Also, if the huge amount allocated for the infrastructure development is used in proper way than, it will directly impact to housing & real estate sector in a prolific path. On the same line, it is proposed to get rebate on the construction material will also boost low cost housing.
I think, Finance Minister is thinking for the long term prospective to increase the revenue and to establish the strong economy of country."