Real Estate provisions in Union Budget

arunjaitletBy Accommodation Times News Services

12:46:59 pm HOME LOAN INTEREST EXEMPTION RAISED TO Rs 2 LAKH FROM Rs 1.5 LAKH

12:14:36 pm NHAI to target 8,000 kms of road development in FY15

12:02:26 pm Effective steps to be taken to revive SEZs

12:02:06 pm Proposes Rs 5,000 cr fund for fresh warehousing capacity

11:51:59 am Plans for Rs 50,000 cr for Municipal Debt Management for INFRA

11:45:30 am Slum development to be included in Corporate Social Responsibility activities

11:45:10 am FM announces development of Metro rails in PPP mode; Rs. 100 cr set aside for metro scheme in Ahmedabad and Lucknow

11:42:47 am Mission for low cost housing proposed to incentivise development of low cost housing; Rs. 400 cr announced

11:42:37 am Urban renewal will address drinking water, use of recycled water,solid waste management, digital connectivity; 500 habitats supported

11:42:11 am Rs 4,000 crore for National Housing Bank

11:40:29 am Infra investment trust to be set up to securitize infra projects

11:34:07 am FM announces Backward Regional Grant Fund to address inter regional inequalities

11:33:54 am FM proposes National Housing Banking programme; sets aside Rs. 8000 cr for this prog

11:29:25 am To give Rs 7,060 cr to develop 100 smart cities

11:21:27 am Pass-through status for Real Estate Investment Trusts. That is tax exemption for such scrutinised form of real estate.

11:20:27 am In order to give major boost to tourism, E-visas would be introduced at 9 airports. This will facilitate visas on arrival

11:20:13 am As large number of people migrate to cities, unless new cities are developed the present would become unliveable

11:17:42 am FM proposes measures to encourage development of smart cities. He said that lot of migration happening from rural to urban. FM allocated Rs.7600 crore for development of such smart cities.

Besides this, FDI norms and conditions in Real Estate sector also proposed to be relaxed as threash hold limit of 50000 sq.mt reduced to 20,000 sq. mtrs and market capitalisation US$10 million also reduced.


Dr. Sanjay Chaturvedi
Executive Editor
Accommodation Times

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