Jaitley makes big bang affordable housing announcements

Affordable housing to be given infra status; LTCG tax on immovable property to be levied after 2 yrs

Giving a massive push to affordable housing sector finance minister Arun Jaitley in the budget finally gave the segment much needed relief and granted infrastructure status to affordable housing. The industry had been for long asking for these changes. 

According to industry experts as well as officials in the Urban Development ministry the new measures would not only push more developers to enter the affordable housing segment, the cost of development would massively reduced for developers. 

Also with tax benefits the government is offering, post demonetisation real estate prices reaching reasonable levels, would all help in attracting new home buyers and end