Budget 2012: Impact on real estate sector |
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Zeebiz Bureau
The following proposals were made by the Finance Ministry Pranab Mukherjee to change the plummeting fortunes of the real estate sector:
- Packaged cement will attract differential excise duty depending on the Retail Sale Price per bag.
- Proposal to prescribe a unified rate of 12 percent and Rs 120 PMT for non-mini cement plants; 6 percent and Rs 120 PMT for mini-cement plants.
- The National Housing Bank (Amendment) Bill, 2012 to be brought in.
- Allow ECB for low cost affordable housing projects.
- Set up Credit Guarantee Trust Fund to ensure better flow of institutional credit for housing loans.
- Enhance provisions under Rural Housing Fund from Rs 3000 crore to Rs 4000 crore.
- Extend the scheme of interest subvention of 1 percent on housing loan up to Rs 15 lakh where the cost of the house does not exceed Rs 25 lakh for another year.
- Enhance the limit of indirect finance under priority sector from Rs 5 lakh to Rs 10 lakh.
- Investment linked deduction of capital expenditure incurred in affordable housing is proposed to be provided at the enhanced rate of 150 percent.
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First Published: Friday, March 16, 2012, 18:39
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Madhuri Kulkarni - Nashik
Dear Politicians, What do you people think about Public. If you are so keen to collect money, then please get he money accumilated by Govt officials and the Politicians.
Praveen D - Bangalore
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