Special Window for Completion of Affordable and Mid-Income Housing (Swamih Investment Fund) Created
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By AT BUREAU, Sept. 17 -- In order to boost real estate sector, the Government has taken various initiatives such as reduction in Goods and Services Tax (GST) on under-construction Affordable Housing project from existing 8% to 1% without Input Tax Credit (ITC) and in case of other housing projects from 12% to 5% without ITC; increase in Priority Sector Lending for Affordable Housing Project from Rs. 28 lakh to Rs. 35 lakh in metros and from Rs. 20 lakh to Rs. 25 lakh in non-metros; Setting up of Affordable Housing Fund in National Housing Bank; additional Deduction of Rs. 1.5 lakh on account of Home Loan Interest in addition to the deduction of Rs. 2 lakh for affordable housing, Extension of 100% deduction on profits for construction of ...
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