On 2nd February 2021, the Hon’ble Finance Minister Nirmala Sitharaman Presented Union Budget 2021 in the Parliament. According to experts, this budget boosts infrastructure and economic growth. However, this budget also focused on a mission of providing a House for everyone that is Affordable Housing Scheme.
Our Hon’ble Finance Minister Nirmala Sitharaman said that “This Government sees ‘Housing for All’ and affordable housing as priority areas. In the July 2019 Budget, I provided an additional deduction of interest, amounting to Rs 1.5 lakh, for a loan taken to purchase an affordable house. I propose to extend the eligibility of this deduction by one more year, to 31st March 2022,”.
So that means this govt. is focused on “Housing for All” and the benefits of Rs1.5 lakh on an interest which was introduced in the 2019 budget and also this is applicable only for those who buy a home for the first time and the value of the property should not more than 45 lakh, is now extended till March 2022.
This exceptional move by the government will boost the affordable housing scheme and help to achieve to PM vision “Housing for All” and also with the intend of more homebuyers will get these benefits.
Buy Dream House with Affordable House Scheme
As the government extends the eligibility of this deduction by one more year, to 31st March 2022, this means bank loan interest is getting a rebate of up to one and a half lakh for buying a house. So it will be a great opportunity for you to invest or buy your dream home before this scheme over.
If the interest in the loan taken from the bank sits between two to five lakhs, then one and a half lakhs will be forgiven. As you know that this scheme has been in progress before, but keeping in view the economic situation in the Corona period, its limit has been extended to 31 March 2022. At the same time, understand this technical aspect that this rebate will be available only on affordable housing. Prices of up to 45 lakh rupees and 90 square meter carpet area are considered to be in the category of affordable housing.
Tax Holiday for Developers
The Hon’ble Finance Minister Nirmala Sitharaman also announce that the tax holiday for developers building affordable houses has been extended for one year. That is, they will not have to pay tax on their profit for one year. This will support Prime Minister Narendra Modi’s plan to provide housing to all by 2022.
Flat in Varanasi with Affordable Housing Scheme
Chandra Towers is one of the leading real estate developers in Varanasi with the mission of Providing Affordable Housing Since 1989. We have completed various projects in different locations of Varanasi. Some projects those was in under construction now are near to complete.
Now it’s a great opportunity for those who are looking for their own flat in Varanasi. We offer affordable 2 BHK flats in Varanasi. One of our projects is coming with the name of Chandra Anandam in Shelmalpur, Harahua, Varanasi which is the part of Affordable Housing Projects in Varanasi. For more details contact with us to buy 2 Bedroom Flats in Varanasi.