This is a budget which will enable empowerment of middle-class India, improving lives of millions. Reduction in Income Tax rates both for earners up to Rs. 5 Lakhs and MSME‘s, will help in increasing their purchasing power and shall also impact demand for affordable housing positively.
More importantly, the simplification of rules qualifying affordable housing, tax holiday under 80 IBA and infrastructure status to this segment are significant positive moves by the government. These initiatives will in turn boost the overall economy as there will be more participation by developers in this area.
Reduction in home loan rates has already proven to be beneficial for housing demand and it will further increase with the help of above measures.