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Analysis of Budget 2020

ANALYSIS OF BUDGET 2020

The Budget 2020 was one budget much awaited by the Real Estate Sector. There were a lot of expectations for certain reforms and changes and here is what Budget 2020 involves for the real estate sector:

Analysis of Budget 2020

The changes that will take over the real estate sector are mainly positive, as far as Budget 2020 is concerned. A proposed idea in the budget is that there shall be benefits under section 80-IBA and these benefits shall be extended till March 2021. This means that there shall be no tax for the developer working on affordable housing. So, if you are a developer looking forward to launching more affordable housing projects, you are likely to get an extension on the same.

Apart from that, an additional deduction of INR 0.15mn on affordable housing loan has been extended till March 2021. This means offtake for affordable housing units will continue to see high and strong demand, which is a positive sign for a lot of developers.

This Budget is directed towards achieving maximum homes for people across the country and will bring in lots of positive changes for the real estate sector.