Rajeev Talwar, CEO, DLF Ltd, and Chairman, NAREDCO
Real Estate

Rajeev Talwar, CEO, DLF Ltd, and Chairman, NAREDCO

Interest on housing loans should be fully allowed under income tax deduction without any ceiling. The current limit of interest deduction under Section 24 of IT Act 1961 on housing loans of Rs 0.2 million should be removed to incentivise home buyers and spurring overall demand. Also, loss from house property should be fully allowed to be adjusted against other heads of income. In case of unadjusted loss, it should be fully allowed to be carried forward to subsequent years.

RBI, through a notification in 2017, allowed a LTV of up to 90% for home loans for affordable houses of Rs 0.30 million or less. The same facility should be permitted for other housing including MIG and HIG as well.

Interest on housing loans should be fully allowed under income tax deduction without any ceiling. The current limit of interest deduction under Section 24 of IT Act 1961 on housing loans of Rs 0.2 million should be removed to incentivise home buyers and spurring overall demand. Also, loss from house property should be fully allowed to be adjusted against other heads of income. In case of unadjusted loss, it should be fully allowed to be carried forward to subsequent years. RBI, through a notification in 2017, allowed a LTV of up to 90% for home loans for affordable houses of Rs 0.30 million or less. The same facility should be permitted for other housing including MIG and HIG as well.

Next Story
Infrastructure Urban

Dr Mangi Lal Jat Appointed as Secretary, DARE and DG, ICAR

Dr Mangi Lal Jat, a renowned agronomist and global expert in sustainable agriculture, has officially taken charge as the Secretary of the Department of Agricultural Research and Education (DARE) and Director General of the Indian Council of Agricultural Research (ICAR). The appointment, approved by the Appointments Committee of the Cabinet, is for a tenure of three years.Prior to this, Dr Jat served as Deputy Director General (Research) and Director of the Global Research Program at ICRISAT, Hyderabad. With over 25 years of experience in agronomy, climate-resilient agriculture, and conservatio..

Next Story
Real Estate

Transforming Real Estate with Sustainable Choices

The times are changing for the construction industry. Once associated with high carbon emissions, energy consumption, and waste, they are now waking up to the environmental cost of traditional practices. Companies are now looking to be a part of the solution instead of the problem. Using recycled materials in building projects is one of the most accessible yet significant changes. This one change has the potential to lower project costs, energy consumption, and landfill usage. Giving Old Materials a New PurposeRecycled building materials aren’t just scraps from old sites. These material..

Next Story
Real Estate

UP Housing Board Finalises 40-Acre Development Plan in Vasundhara

The Uttar Pradesh Housing and Development Board (UPHDB) has finalised a 40-acre development plan in sectors seven and eight of Vasundhara, Ghaziabad, under a mixed land use model. The layout includes a 10-acre satellite centre for the All India Institute of Medical Sciences (AIIMS) and two major plots of 20 and 10 acres for group housing and commercial use. According to officials, the project falls under the Transit-Oriented Development (TOD) zone of the Regional Rapid Transit System (RRTS) corridor, with the Sahibabad Namo Bharat station located nearby. The auction process for the plots is e..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?