Budget 2022: Sops to boost investment in real estate sector, say brokerages

There are multiple expectations from firms in the real estate sector, the second largest employer after agriculture. Key among them are raising the exemption limit under Section 24 (b) of the Income Tax Act for interest on housing loans taken for self-occupied property from the current Rs 2 lakh to Rs 5 lakh to improve liquidity.

Brokerages also expect an increase in the safe harbour limit under section 50C of the I-T Act for home buyers purchasing a property below the circle rate by up to 20 per cent beyond June 30 for primary sale of residential units of value