The infrastructure development across the urban and rural settlement and eased norms on capital gains arising from the sale of an immovable property.
5 BENEFITS ARE THE FOLLOWING ONES:-
1. Boost to affordable housing:- Declared as ‘INFRASTRUCTURE’ affordable housing stands to be the biggest gainer this year. The developmemt is a direct answer to each and every question posed on the viability of constructing affordable homes in the country. Giving a huge relief to its developers, the goverment now allows these project to be completed within 5 yrs instead of 3 yrs in order to avail benefits under 80 IB.
2. Rural housing:- With 2022 each and every house accelerated further with reforms introduced under rural housing. Moreover, the allocation of the 23,000cr under the pradhan mantri awas yojana (PMAY) is a massive step towards ” housing for all”.
3.Boost to infrasructure sector:- The infrastructure sector, which would invaribly impact real estate, was awarded a whopping rs 3.9lakh cr. the transformation including railways ,roads ,and shipping alone.
4.Easing norms on capital gains:- Another ground breaking move for real estate enthusiasts is the reform brought in the capital gain tax structure.The holding period for long term gains from an immovable property has been reduced from 3yrs to 2yrs. Moreover a property is being developed under joint development, one now liable to pay capital gain tax only in the year of completion.
5.Reforms of boost disposable income:- The provisions provided under the income tax slabs will also have a direct bearing on the real estate sector. The FM has attempted to ease tax liabilities on the salaried individuals resulting in a thrust to the disposal income at hand. Related Tags RealEstate
