{"id":5623,"date":"2023-08-28T17:48:11","date_gmt":"2023-08-28T17:48:11","guid":{"rendered":"\/blog\/?p=5623"},"modified":"2024-07-01T10:35:37","modified_gmt":"2024-07-01T05:05:37","slug":"union-budget-2017-benefits-realtors-and-buyers-alike","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-home\/union-budget-2017-benefits-realtors-and-buyers-alike\/","title":{"rendered":"Union Budget 2017 Benefits Realtors and Buyers alike"},"content":{"rendered":"\n<p>Union Budget is\nconsidered as one of the major events in the nation\u2019s progress. Along with\nimpacting the overall growth and development of the entire country, the budget\nalso affects daily lives of citizens. Every segment of the society has their\nown expectations out of a budget and hence everyone keeps a close watch on it.\nAnd depending upon whether or not the budget meets the public demand, proposals\nmade during a budget session receive both appreciation and criticisms. The\nUnion Budget for the financial year 2017-18 was recently tabled and this budget\nsession included several alterations and norms for the benefit of the citizens.\nThe presentation of the budget itself was a new development as it was advanced\nby a month i.e. it was shifted to 1st February, as against the usual schedule\nof last working day of February. This development broke the colonial hangover\nto ensure speedier implementation of schemes that are being presented at the\nbudget. <\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/home-loan.html\">Know More<\/a><\/div>\n\n\n\n<p>Among the various pro-citizen developments,\nBudget 2017 gave a commendable thrust to the real estate sector. One major\ndevelopment introduced during the budget was the grant of infrastructure status\nto the affordable housing schemes. This move will propel the growth of\nconstruction as well as the purchase of property in India. Here is a quick\noverview of how budget 2017 will have a positive impact on the inclusive growth\nof the real estate sector:<\/p>\n\n\n\n<p>Pro-realtor move \u2013The grant of\ninfrastructure status to the affordable housing schemes was a strategic and\npractical move because there is a significant correlation between\ninfrastructure and real estate. Along with resulting in an increase of property\npurchase, it will also result in the growth of the affordable home loans\nbusiness and the emergence of affordable <a href=\"https:\/\/tata-blog.osian.dev\/home-loans.htm\" title=\"Home Loan\">home loan<\/a> lenders.\nCheaper loans for budget housing developers will increase activity in this\nsegment thereby advancing towards achieving the Government\u2019s goal of Housing\nfor All by 2022. In addition, developers will get a period of one year to pay\ntax on notional rental income on completed unsold residential inventory. The\ntime limit for capital gains has been reduced to 2 years from the earlier 3\nyears in the light of considering it as a long-term gain. Also, developers of\naffordable housing will have a 5-year project completion period as against the\nearlier 3-year period. <\/p>\n\n\n\n<p>Pro-buyer move \u2013 The formulation of the budget paid considerable heed to the need of housing for all. And, it was reflected in the fact that the budget proposed to complete 1-crore houses by 2019 for the houseless and those living in kutcha houses. It also announced a change in size requirement of affordable houses from built-up area to the carpet area of 30 square metres for municipal limits of 4 metropolitan cities and 60 square meters for rest of the country. This was a welcome move as it will make houses more spacious. In addition, a reduction in <a href=\"https:\/\/tata-blog.osian.dev\/home-loan\/rates-and-charges.html\">home loan interest rates <\/a>will potentially bring down the cost of purchasing a house. This will make buying a house more affordable. However, Budget 2017 neither provided any additional income tax incentives to first-time home buyers nor provided higher tax savings on housing loans and house insurance premiums. It also did not raise house rent deduction limits. But, the proposed norms will certainly encourage people to buy property.  <\/p>\n\n\n\n<p>It is expected that Budget 2017 will increase development and purchase of property in India. When developers receive benefits, the same will reflect in the form of lower prices. Similarly, when home loan rates become cheaper, it will enable more people to buy property. All in all, real estate sector is all set to see growth in the near future.<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/home-loan.html\">Apply For Home Loan<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Union Budget is considered as one of the major events in the nation\u2019s progress. Along with impacting the overall growth and development of the entire country.<\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/home-loan\/union-budget-2017-benefits-realtors-and-buyers-alike\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":5624,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-5623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-home"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Union Budget 2017 Benefits Realtors and Buyers alike - TATA Capital Blog<\/title>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Union Budget 2017 Benefits Realtors and Buyers alike - TATA Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Union Budget is considered as one of the major events in the nation\u2019s progress. Along with impacting the overall growth and development of the entire country. Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/union-budget-2017-benefits-realtors-and-buyers-alike\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-28T17:48:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-01T05:05:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/01\/union-budget-2017-benefits-realtors-and-buyers-alike.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"348\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/union-budget-2017-benefits-realtors-and-buyers-alike\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/union-budget-2017-benefits-realtors-and-buyers-alike\/\",\"name\":\"Union Budget 2017 Benefits Realtors and Buyers alike - TATA Capital Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2023-08-28T17:48:11+00:00\",\"dateModified\":\"2024-07-01T05:05:37+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/union-budget-2017-benefits-realtors-and-buyers-alike\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/union-budget-2017-benefits-realtors-and-buyers-alike\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/union-budget-2017-benefits-realtors-and-buyers-alike\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.tatacapital.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Union Budget 2017 Benefits Realtors and Buyers alike\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/\",\"name\":\"TATA Capital Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.tatacapital.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\",\"name\":\"Tata Capital\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"caption\":\"Tata Capital\"},\"sameAs\":[\"https:\/\/tata-blog.osian.dev\/blog\"],\"url\":\"https:\/\/tata-blog.osian.dev\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Union Budget 2017 Benefits Realtors and Buyers alike - TATA Capital Blog","robots":{"index":"noindex","follow":"nofollow"},"og_locale":"en_US","og_type":"article","og_title":"Union Budget 2017 Benefits Realtors and Buyers alike - TATA Capital Blog","og_description":"Union Budget is considered as one of the major events in the nation\u2019s progress. 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