This years budget has brought some cheer for first time home buyers. Chidambaram announced an additional Rs.1 lakh in tax savings for those taking loans of up to Rs.25 lakh for the purchase of their first home. The savings will be applicable over and above the Rs 1.5 lakh that is already available. Something had to be done to revive moribund home sales and this could just do the trick. But then again the additional rebate on interest paid is valid only for one year. For someone who takes a 20 year home loan it sounds like peanuts.
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 Additional 1 lakh incentive may do the trick. In India people buy house not only for living but also as a hedge against inflation. Traditionally home buyers earned returns in excess of other instruments & in any case much above the inflation rate. This additional incentive should work wonders.
Further, it is possible to buy a Flat on the outskirts of big cities of Bangalore below Rs 35 lakhs budget- there are reputed builders like Provident (Purvankara)housing, VBHC offering beautiful yet affordable houses.
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 March 04, 2013 22:00 pm by Prakash Rao
Commented on Low cost housing gets a boost
Additional 1 lakh incentive may do the trick. In India people buy house not only for living but also as a hedge against inflation. Traditionally home buyers earned returns in excess of other instruments & in any case much above the inflation rate. This additional incentive should work wonders.
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March 04, 2013 12:13 pm by K A PRASANNA
Commented on Low cost housing gets a boost
Those who take a loan of Rs 25 lacs will not go for low cost houses.
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