Affordable housing is not a new concept anymore. People all across India are well aware of the concept and the many benefits it brings for both the home buyers and developers. It is a one-of-a-kind sector that has brought cheers to the real estate sector. So, aren’t you excited to know how this segment/sector/concept has turned to be a win-win opportunity for both the buyers and the sellers? Tax Exemption On Notional Rent Self-occupied second homes are exempted from notional rent, giving middle class home buyers a great reason to be happy. People who are dependent on their parents and wish to migrate to other cities for job or studies, will specifically benefit from this. So, if you wish to invest in a second home - no matter you put it in rent or live there - you know you have the benefit. Mitigating The Risk Of Unsold Residential Inventory The Indian government has always been very supportive to boost the real estate sector in India. One of the biggest examples of this is extending the duration of inventory tax exemption on builders. The duration has been extended from one to two years. 100% Deduction On Builder’s Profits Section 80-IAB has been extended by the government, which allowed complete deduction on builder’s profits till March 2020. This will eventually be beneficial for the home buyers as more flats in NH 58 raj nagar extn will be available under affordable housing. Sell One Buy Two Section 54 of the Income Tax Act states that now a buyer can save the capital gains tax on selling one specific property and reinvesting that amount in buying two properties. So, if you have capital gains up to 2 crores, you are eligible for this benefit and can avail the same only once in a lifetime. Income Tax Exemption For Buyers Do you know you can save approximately Rs. 28,000 annually through income tax exemption? If your income is around Rs. 6 lakh, you can actually enjoy this benefit. So, if both you and your spouse are earning members in the house, you can save Rs. 56,000 annually. This is one of the biggest attributes of buying ready to move flats in Ghaziabad under the affordable housing sector. With this, it is clearly evident that investing in 1 or 2 bhk flats in Raj Nagar Extension or any place in Ghaziabad is a sure-shot advantage for the buyers and the developers.
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March 2020
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