Budget 2013: Sectors on radar
Real estate sector
Amidst demands of granting industry status to the housing sector, this year the real estate sector will be among the most watched. Industry bodies are also demanding tax exemption on Special Hosing Zones in line with Special Economic Zones. Allowing external commercial borrowing as per the FDI norms is also among the wishlist. Other pending reforms is the Land acquisition Bill, which, if passed will give a major boost to the real estate sector.
If the government fulfills the wishlist of the salaried class which includes separate provision for the principal loan amount which currently is included in 80C (under which maximum limit is one lakh all inclusive) it will bring positive impact to the realty sector.
Another demand of the salaried class is to hike the interest payments on home loan of upto minimum 3 lakh from current Rs 1.5 lakh which is eligible for deduction.
Though all the demands may not be fulfilled but if government fulfills a few of the demands, it will be fruitful for the realtors and their stocks. One can carefully watch real estate stocks during this Budget.
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