Can you elaborate on income tax exemption for affordable housing? - Property Hotline
February 3, 2017
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4:43Now PlayingCan you elaborate on income tax exemption for affordable housing? - Property Hotline
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as posted by the channelExpert: Jayesh Kariya, Partner, BSR & Associates.
Question: Can you elaborate on the income tax exemption for affordable housing. What is to be considered as carpet area and what is to be considered as built-up area?
Answer: The realty prices will softened down depending on the cost moves and GST, says expert. The good news for homebuyers is the change of definition of affordable housing as it has been now linked with carpet area and the size of the flat. There are no tax exemptions that you are getting as a home buyer. However, there are exemptions given to the developer. We are hoping the developers will then pass it on to the homebuyers. According to industry, this should act as an incentive for the industry to construct smaller homes, which are also easy on pockets.
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