What Budget 2024 holds for home loan interest rates
With strong expectations and speculations circulating, particularly concerning tax rebates and home loan interest rates, stakeholders are keenly assessing the potential impact on homebuyers and the broader real estate market.
Budget 2024, Union Budget 2024, home loan, home loan interest rates, Budget 2024 expectations, real estate, deduction for home loan interest, Section 24 of Income Tax Act, affordable housing, impact on homebuyers
The real estate industry in India stands at the cusp of transformation as the eagerly-awaited Budget 2024 approaches during this election year. The focal point of anticipation revolves around the potential amendments that could reshape the industry’s dynamics. Stakeholders keenly await clarity on crucial aspects, including an increase in the maximum deduction for home loan interest and additional tax benefits for first-time homebuyers.
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These expected changes carry the promise of invigorating the real estate market, especially in the budget housing segment that has witnessed a decline in demand. Amidst this anticipation, it is evident that the real estate landscape is poised for a pivotal juncture, where government policies and financial directives will play a decisive role in charting the course for the industry’s growth and resilience.
The real estate industry in India is at the cusp of keen anticipation as Budget 2024 looms on the horizon, especially in the midst of an election year. One of the foremost expectations from Budget 2024 revolves around the revision of the maximum deduction for home loan interest under Section 24 of the Income Tax Act.
Currently capped at Rs 2 lakh, industry experts advocate for a
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