Budget 2016
Home | Budget |

Budget 2013: Chidambaram's sop for first-time home buyers

EMAIL
COMMENTS

First home buyers got a shot in the arm after Finance Minister P Chidambaram announced additional deduction on payment of interest for homes below Rs 25 lakh.

First housing loan of up to Rs 25 lakh will be eligible for extra Rs 1 lakh tax deduction, Mr Chidambaram said. Currently, the deduction limit for payment of interest for self-occupied property is Rs 1.5 lakh.

The deduction will be applicable for loans taken in fiscal 2013-14.



All realty stocks reacted positively to the announcement. Anant Raj Industries, Sobha Developers traded with 5 per cent gains, while DLF jumped nearly 3 per cent.


 



ALSO READ 3-Day Weekends, 6-Hour Work Days Are New Incentives To Retain Employees

Advertisement

Advertisement

The financial services industry has been the backbone of the Indian economy, say...

LIVE BLOG

Advertisement