Budget: Benefit on purchase of affordable house extended by one more year
The benefit is over and above the tax benefit of Rs 2 lakh available u/s 24(B) of the Income Tax Act on interest on Housing Loan on both self-occupied and rented properties. So, by buying an affordable house, a taxpayer may avail tax benefits up to Rs 3.5 on interest paid on a home loan taken to buy such a house
Over the past few years, the real estate in India has had to deal with several large-scale policy changes – demonetization, GST, and the RERA Act – that have impacted its growth. The sector was only beginning to bounce back from the impact when the pandemic hit, completely disrupting demand and supply value chains.
May new home sales gain 2.2% from April
Sales of new single-family houses in May 2015 were at a seasonally adjusted annual rate of 546,000, which is up 2.2% from April, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. — From Housing Wire
3 ways to tame student loan debt and afford a mortgage
It’s no secret that student loans can make buying a home a challenge. But what exactly is the problem, and how can buyers overcome it? The problem is that student loans can be included in the buyer’s debt-to-income ratio or DTI. — From Bankrate