'Budget 2019 will boost affordable housing'

The Union government has taken many measures in regard to the real estate sector during the 2019-20 budget. The main focus of the government is on affordable housing promises.

Hyderabad: The Union government has taken many measures in regard to the real estate sector during the 2019-20 budget. The main focus of the government is on affordable housing promises 'housing for all by 2022'. Finance minister enhanced income tax deduction limit by 1.5 lakhs from 2 lakhs. To avail 3.5 lakh income deduction benefit, house stamp duty cost should be below 45 lakhs.

Experts are of the view that this decision will boost affordable housing in the country. Besides this citizens can avail Pradhan Mantri Awas Yojana benefits.

"This tax deduction benefit should not be seen in isolation. In PMAY scheme the government is giving 2.67 lakhs interest subsidy up to 18 lakh income couples. Any citizen can avail this. PMAY subsidy and this raised income deduction will be the biggest saving," said C Shekar Reddy, Past National President at CREDAI, CMD - CSR Estates Ltd, Chairman-CII-Indian Green Building Council ,Hyderabad to ETV Bharat.