India, Feb. 1 -- Budget 2025 exempts income up to Rs.12 lakh from taxation under the new regime. This makes homeownership more accessible for those in this income bracket and encourages investment in the housing sector. However, there will be no change for those earning an annual income of more than Rs.12 lakh annually.

Let us take the example of Prithvi Singh (name changed), who earns a salary of Rs.12 lakh per annum. He has been putting away buying a house in the last few years because the rising interest rates have hit him hard. Singh has been waiting for RBI to cut interest rates, but that has not happened yet.

Budget 2025 brings good news for him because he will make substantial tax savings if he opts for the new tax regime. "Peopl...