“We welcome the government’s focus on growth via Union Budget 2019-20, which meets multiples objectives including boosting consumption, strengthening the agriculture sector and reducing the urban-rural gap through infrastructure. The progressive budget places strong emphasis on affordable housing by granting a year’s extension on benefits under Section 80 – IBA, to housing projects approved till 31st March 2020, and can be termed as a game changer both for the unorganised sector and middle-income segment. The exemption on notional rental income from second self-occupied homes is an enabler to bolster home buying. The rollover of capital gains tax on the sale of houses has been increased from 1 to 2 houses and thus incentivizes homebuyers and investors. Finally, tax rebate on income up to Rs 6.5 lakhs under 80C will accelerate investment in housing.”
