There seems to be very little in the 2013 Budget proposals which affect low income housing (developers / financing) - in fact just three specific items:
• Increase in allocation to the Rural Housing Fund ("RHF") from Rs 4000 crore to Rs 6000 crore;
• New Urban Housing Fund ("UHF") to be set up with Rs 2000 cr;
both the above schemes to be administered by the NHB (as refinance schemes).
RHF increase (and possibly the new UHF) will help MHFC - as all our loans are less than 10 lakhs and generally to weaker sections (same objective as the RHF and possibly the UHF).
and
• Increase in the tax deduction on interest paid on housing loans (to 2.5 lakhs - from current 1 lakh) on home loans less than 25 lakhs
also see Mint article - Feb 28, 2013 for sops to the sector
• Increase in allocation to the Rural Housing Fund ("RHF") from Rs 4000 crore to Rs 6000 crore;
• New Urban Housing Fund ("UHF") to be set up with Rs 2000 cr;
both the above schemes to be administered by the NHB (as refinance schemes).
RHF increase (and possibly the new UHF) will help MHFC - as all our loans are less than 10 lakhs and generally to weaker sections (same objective as the RHF and possibly the UHF).
and
• Increase in the tax deduction on interest paid on housing loans (to 2.5 lakhs - from current 1 lakh) on home loans less than 25 lakhs
also see Mint article - Feb 28, 2013 for sops to the sector
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