Budget 2021: First recession and then corona crisis, will Sanjivani be able to give this budget to real estate sector, know what are the expectations
Budget 2021 Only a few days remain in the country’s general budget. This time the budget is going to be very important for the country and the people of the country. Due to the Corona crisis, a slowdown is going on in almost all sectors except agriculture. In such a situation, this budget is very important for all sectors to bring back the deteriorated economy. Let us know what special announcements can be made for the real estate sector in this budget.
Experts and economists believe that the real estate sector will be given relief in this budget. According to sources, the real estate sector can be exempted from Capital Gains Tax in the budget presented on February 1. Plans have also been considered to provide relief to the common man. The bankrupt project is also expected to be relieved.
Budget News 2021
According to media reports, there may also be a proposal for exemption of stamp duty to the real state sector in the upcoming budget. This will reduce the final price of the property for the buyers and will also increase the real buyer’s income in the real estate sector. Finance Minister Sitharaman can make a big announcement about this in the budget.
Budget 2021 Expectations – Demand to increase the limit of Affordable House
Developers have been demanding for a long time to include houses up to Rs 75 lakh in the affordable housing segment. Increasing the limit of affordable houses will gain momentum in new and old projects. Talking about the expectations of the real estate sector budget from 2021, the developers have also demanded a separate fund to complete the stranded projects. There is a demand to include houses up to Rs 75 lakh in the affordable housing segment.
Demand to increase the scope of tax exemption
Industry veterans demand that the tax rebate on home loan interest be increased. There is a demand to increase the home loan interest rebate to Rs 5 lakh. Currently, the act currently gets a rebate of Rs 1.5 lakh.
Rental Housing Scheme
Under the Affordable Rental Housing Scheme, the government is moving fast on the plan to provide houses on low rent to migrant laborers and the urban poor. A special portal has also been launched for this. Industry giants demand that rental housing should be promoted in the budget. Make tax exemption attractive.