 "Affordable homes in Mumbai, Pune, Bengaluru, Hyderabad, Gurugram and Noida are moving at a fast clip")
Two Budget proposals could curb the demand for residential properties, whose market has already slipped after demonetisation.
According to the Budget, a person owning a second home can claim a deduction of Rs 2 lakh a year on account of losses on it. Currently there is no limit on the deduction that can be claimed.
"Unless property prices start appreciating, this move will reduce the incentive a salaried person earlier had to invest in a second home and optimise tax. We believe this is likely to impact demand, especially in the top seven metros (more service-sector jobs), in an already
