Praising his government’s speed of building houses, Prime Minister Narendra Modi on Wednesday said it is leaving no stone unturned to fulfil the ambitious target of providing housing to all by 2022. Speaking at a real estate conference in New Delhi, the prime minister said 1.5 crore houses for the poor have been built at twice the speed to realise the target of 2022. He added that the interim budget for 2019-20 will give a major fillip to the housing sector by way of providing incentives for homebuyers as well as tenants.
To buttress his point, the prime minister said the budget move to exempt people earning up to Rs 5 lakh from payment of income tax will benefit the housing sector as the surplus will find its way into the sector. Other budget announcements, including hiking TDS exemption limit on rental income from Rs 1.8 lakh to Rs 2.4 lakh, extending housing income exemption from one to two self-occupied houses, capital gains from sale of house property being allowed to be invested in two properties instead of one, and the 10-year window for registration of affordable housing projects for getting tax relief, will give a big boost to real estate sector, he said.