Union budget 2018 has been presented by our Finance Minister Arun Jaitley on Thursday, which throws some light on the real estate sector. The Government has focused on Affordable Housing Fund (AHF) in National Housing Bank, which would be facilitated by the Government of India.
The budget 2018 brings Indian Post Offices Act, Provident Fund Act, and National Saving Certificate Act together along with it some more friendly measures will be introduced.
Infrastructure Investment Trust and Real Investment Trust have taken in the light of required measures for development by the Government and market regulators.
According to reports, our finance minister planned that in the only case adjustment shall be made when the circle rate value does not exceed 5% of the consideration, in order to minimize the adversity in real estate.
The Government has set up an aim for 100 smart cities, which would be comprised of art amenities with an expenditure of Rs 2.04 lakh crore. Some projects have been completed of Rs 2,350 crore and the rest of Rs 20,852 crore are under progress. These developing smart cities have already begun to implement some projects, for instance, smart roads, solar rooftops, intelligent transport systems, smart parks, smart command, and control center. National Heritage City Development and Augmentation Yojana (HRIDAY) has been implemented on a large scale to conserve and revive the soul of the heritage cities in India.
Real Estate Consultants: Madhyam.com