Buy a Flat in Hyderabad by paying an Emi as low as Rs 6,000

The federal government has been accommodative of the concerns of the realty sector and met the industrys long pending demand to accord infra-status to affordable homes in hyderabad .

Relaxation on long term capital gains, joint development agreements, tax rebates for builders in hyderabad on unsold stocks would provide a large relief to the actual estate sector, that will be facing a multi-year slowdown, developers and consultants said.

Developers would enter into affordable home projects in Hyderabad with the change in the eligibility norm to carpet area from built up area along with clarity on applicability of 30 sq meter and 60 sq meter criteria.

Realty major DLF CEO Rajeev Talwar said: “It is great and balanced Budget. For housing it is definitely an unprecedented Budget. Infrastructure status to affordable housing will mean cheaper cost of funding and lower tax to developers.

Emaar India CEO Mr Sanjay Malhotra said affordable housing segment getting the Infrastructure status alongside increased allocations under NHB and PMAY-Gramin would enable larger funding offered to home buyers and developers at a less expensive and also make the sector eligible for various incentives.

The Budget provides a big boost to the affordable housing but missed on giving any additional income tax incentives to first-time home buyers or providing higher tax savings on housing loans and house insurance premiums.