New Delhi, Jan. 22 -- The National Real Estate Development Council (NAREDCO) on Thursday recommended to the union Ministry of Finance a slew of measures, including setting a higher limit for interest deduction on home loans and reinstatement of the Income Tax Settlement Commission.
Addressing the press conference here, NAREDCO Chairman Dr. Niranjan Hiranandani called for a housing revolution so that housing will be available for all. He also emphasised on the rental housing mechanism to provide access to buying one's own house to everyone.
"It is suggested that the deduction on account of interest payment available under Section 22 of the IT Act 2025 should be made applicable from the year in which capital was borrowed, as for principal u...