Cities with higher circle rates to gain from Sitharaman's new relaxation

While developers hail FM's announcement, they want the govt to exempt the entire interest paid on housing loan from income tax

The Finance Minister’s move to increase the difference between agreement values of properties and circle rates to 20 per cent is expected to boost sales in cities where circle rates are higher than negotiated prices.

Though large developers in Mumbai and Delhi have said that the Finance Minister’s announcement will not bring them and buyers much relief due to cap of Rs 2 crore, Mumbai suburbs in Andheri and further north on the western line, Chembur and beyond on the harbour line and areas around Thane, where price are within Rs 2 crore, are expected to see an impact.

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