{"id":5419,"date":"2023-08-28T16:45:04","date_gmt":"2023-08-28T16:45:04","guid":{"rendered":"\/blog\/?p=5419"},"modified":"2024-07-19T15:09:43","modified_gmt":"2024-07-19T09:39:43","slug":"impact-of-2017-budget-on-home-owners-and-home-loan-borrowers","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-home\/impact-of-2017-budget-on-home-owners-and-home-loan-borrowers\/","title":{"rendered":"Impact of 2017 Budget on Home Owners and Home Loan Borrowers"},"content":{"rendered":"\n

People were waiting for the Budget 2017 with eager eyes. Everyone was of\nthe view that the government might do something for the people after the\ndemonetization.<\/p>\n\n\n\n

But interestingly, government decided to walk the path of fiscal\nprudence and decided not to change too much when it came to impacting home\nlowers or borrowers. Though some chances have been announced, it will be\ninteresting to see how it will impact people.<\/p>\n\n\n\n

One good thing that budget did was that it redefined the period of\ncapital gains\u2019 related taxation. Earlier, profit on property sold after 3 years\nwas treated as long term capital gains. But now, this period has been reduced\nto 2 years.<\/p>\n\n\n\n

Short term capital gains are taxed at person\u2019s current tax slab rate.\nBut for long term gains, the taxes are 20% after indexation. So it makes sense\nto wait a bit before selling a property for profit.<\/p>\n\n\n\n

Also, the government has revised the definition of affordable housing. This has some positive impact as affordable housing gets interest subsidy from the government (4% for upto Rs 9 lacs and 3% for upto Rs 12 lacs). Earlier, 30 sq mts in metro cities and 60 sq mts of built up area was included in affordable housing. But now, the area to be considered is carpet area (same 60 and 30 sq mts). This has increased the size of houses (and obviously prices), which will get the benefit of being in affordable housing category. <\/p>\n\n\n\n

Another thing that is happening around the budget itself is that interest rates are falling like anything. This means home loan<\/a> at lower interest rates and lower home loan EMIs<\/a>. So the combined impact of budget and falling-rate scenario has created a conducive environment for revival of real estate market. And if you were planning to buy a house in near future, it might be a good time to start your house hunt quickly.<\/p>\n\n\n\n

Apply for Affordable Housing Loan<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

People were waiting for the Budget 2017 with eager eyes. Everyone was of the view that the government might do something for the people after the demonetization.<\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":5430,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-5419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-home"],"yoast_head":"\nImpact of 2017 Budget on Home Owners and Home Loan Borrowers - TATA Capital Blog<\/title>\n<meta name=\"description\" content=\"What will be the impact of 2017 budget on home owners and home loan borrowers? 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