Tag Archives: Affordable Housing Scheme 2017

Infra Status For Affordable Housing Scheme: Budget 2017

Finance Minister Arun Jaitley, in his 2017 Union Budget presentation, has proposed to give infrastructure status for Affordable Housing Scheme in India. This step has been taken mainly to boost real estate sector, to encourage higher investment in this segment and to help homebuyers to get an affordable home within their budget. The main focus is housing for all by 2022 in both rural and urban sectors.

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Key Points to Eye on!

  • The government expected to build 1 crore houses for all homeless by 2019.

  • Pradhan Mantri Awas Yojna fund allocation has been increased from Rs. 15,000 crore to Rs. 23,000.

  • National Housing Bank to refinance individual housing loans of Rs. 20,000 crore in 2017-2018.

  • Section 80-IBA will be amended to promote affordable housing scheme.

  • Relaxation in Period of completion of the project for deduction claims has been raised from 3 years to 5 years.

  • Affordable housing for people who do not own a ‘PUCCA’ house in any part of the country.

  • Developers will get tax relief on unsold stock.

  • Carpet area of 30 and 60 square meters will be applicable for affordable housing and not built up area of 30 and 60 square meters.

The various measures and improvements, as proposed by Finance Minister Arun Jaitley, will make affordable housing far-reaching and attractive with better credit facilities. Home buyers will be benefited in a huge way with the lowest lending rates for home loans and with the government’s endless effort to provide a suitable home for all who do not own a house or own a kaccha house.

Check out the most affordable home loans at the most attractive home loan interest rates with us @ Loansninsurances.com. This coming Diwali, Durga Puja, Eid, Christmas and Ganesh Chathurthi gift a beautiful home to your near and dear ones and cherish the valuable memory forever.