March 01 2016, 22.18 PM IST || Pocket News Alert
Ludhiana, March 1, 2016: Under the leadership of Prime Minister Sh.Narendra Modi, the government has launched its Mission Housing for All -2022 in their annual budget 2016 in accordance to which, there is a full possibility of a boom in the real estate business. The dream of a common man for his own house will take a step further in the right direction.
C.M.D Mr Ashok Malhotra of Ashok Malhotra Group has said that the Finance Minister Sh.Arun Jaitley has given a new life to the real estate business in his new budget. To promote Affordable Housing, the Indian government for the first time has given an extra sanction on Rs. Fifty Thousand to be tax-free. According to this new sanctionnot paying tax on extra, Rs. 50 Fifty thousand will be relieved to people having Rs. 50 lacs home and looking for Rs 35 lacs home loan.
Young director Mr. Karan Malhotra said that the government under various schemes like private sector schemes, centre and state government schemes have given relief of service tax for homes under 60 sq. meters. In addition, the government has announced that in the upcoming financial year there will be relief from the service on the income from the houses that are built in the metro cities under 30 sq. meters and in non-metro cities under 60 sq. meters. It will encourage the housing schemes in 2-3 small cities while also keep the prices under control.
