Real Estate Sector Budget 2023 Expectations: The Union Budget of the country is going to be presented on February 1 this year. In such a situation, from income tax to railways, tourism and common people have a lot of expectations. At the same time, Finance Minister Nirmala Sitharaman can make some special announcement for home buyers as well. Let us know what the home buyers expect from Budget 2023 and what gift the government can give to the people in the budget.
Investing in real estate or buying a home for the first time comes with a host of problems. Many types of charges, tax charges and other problems come to the fore while buying a house. In such a situation, home buyers are demanding maximum tax exemption. If this happens then the home buyers can get the house cheaply.
EMI of home loan will be less
If Finance Minister Nirmala Sitharaman increases the tax exemption limit, then you can claim the loan taken to buy a house. Home loan EMI can also be cheaper due to tax exemption. Along with this, other tax concessions, changes in GST structure and exemption in limit can also be available for home buyers. It is expected that with such changes, the real estate sector of the country will grow rapidly.
How much tax exemption is available on home loan now?
At present, the tax cap on housing loan is Rs 2 lakh and it has not been changed for the last few years. However, the inflation rate has increased during the year 2022, in such a situation, people are hopeful that this time the government can increase the tax exemption limit on housing loan and make it up to Rs 5 lakh.
what will be the benefits
If the tax exemption limit increases, then the number of individual home buyers is expected to increase. Also, the number of people investing in real estate can be good and people can get a house in a budget.
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