Budget raises home loan limit, SEZs come under MAT of 18.5% – Financial Express
CORPORATE IMPACT Real Estate
fe Bureau
Posted: Tuesday, Mar 01, 2011 at 0020 hrs IST
The Urban middle income housing consumers, who have been reeling under the pressure of spiraling prices, seem to have been left out of any meaningful benefit in the Budget 2011-12, industry players feel.
While the limit increase for 1% interest subvention, introduction of e-stamping, raising priority home loan limit from R 20 lakh to R 25 lakh and investment linked deduction scheme have been positives, bringing SEZ under MAT and no mention of STPI exemptions have been a dampener.
“Increase limit to R 15 lakh for 1% subvention, increasing limit to R 25 lakh for priority lending for home loans are welcome,” said Lalitkumar Jain, CMD, Kumar Urban Development. “Measures such as expanding the coverage of interest subvention to a loan of R 15 lakh for a house costing R 25 lakh and providing 100% deduction in respect of capital expenditure incurred on development of affordable housing will certainly aid in…