Mr.Nayan Raheja on India News talked about Budget in the Housing Finance Sector, Raheja Developers

The budget presented by our FM today is a very comprehensive budget. The Government has done everything possible to ensure housing for all. For the first time home buyers there can not be a better opportunity than this. The following are the direct benefits that will be available for the buyer:
1. Exemption of RS.3.5 lacs which actually deciphers to appx 7 lacs over a period of time.
2. CLSS( credit linked subsidy) that gives instant benefit of 2.6 lacs (credited to the loan account of the beneficiary) This subsidy amount when discounted over a loan of 20 years may work to more than 6.5 lacs as benefit under PMAY.

3. GST reduction to 1 percent which is indirect benefit of 1.80 lacs on a house worth 45 lacs.

Thus, if we talk about the budget provisions coupled with the current benefits given by the government, there has been no better opportunity to the first time home buyers for investment in real estate.
NAVIN M RAHEJA, CMD, RAHEJA DEVELOPERS LIMITED

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