Monday, December 23, 2024 | 09:07 AM ISTEN Hindi

Home / Companies / News / Interim Budget 2019: Tax rebate for affordable housing excites developers

Interim Budget 2019: Tax rebate for affordable housing excites developers

In an effort to push the Prime Minister's 'Housing for All' initiative, the government has announced a set of tax reforms for the real estate sector in the interim Budget

Premium

any reduction on this basic input cost could help boost prospects for under-construction properties

Raghavendra Kamath Karan Choudhury

Last Updated : Feb 02 2019 | 12:08 AM IST

The government on Friday allowed a rebate on taxable income between Rs 2.5 lakh to Rs 5 lakh per annum in the interim Budget for 2019-20 (FY20). Experts believe this might boost the prime minister’s housing for all initiative, as it would provide additional disposable income to potential buyers of affordable homes.

The size of the real estate sector in the country is $200 billion.

Around 15.3 million houses have been constructed under the Pradhan Mantri Awas Yojana (PMAY). “From 2014 to 2018, 15.3 million houses have been built under the PMAY,” Finance Minister Piyush Goyal said

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in