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With the Union Budget approaching on February 28, industries have put forth their wishlists. Here is what the real estate industry wants:
- Expediting the enactment of the Real Estate (Regulation and development) Bill 2013 which is likely to help develop consumer confidence in a sector.
- Enhance the limit of interest deduction on housing loans from Rs. 2,00,000 to at least Rs. 5,00,000; increase the limit under section 80(C) from Rs. 1,00,000 to Rs. 3,00,000 to spur house purchases.
- Extend tax holiday under Section 80(IB) to new affordable housing projects, with appropriate safeguards to ensure that benefit is passed on to house buyer.
- Introduction of Technological Upgradation Allowance for IT industry.
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