Good news for first time home buyers!- Business News

Good news for first time home buyers!

  • March 7, 2016  
  • |  
  • UPDATED   12:16 IST

There is good news for first time home buyers as the finance minister has introduced Rs.50,000 additional deduction in the budget 2016. 

Those who are first time home buyers will get a relief of Rs.50,000 on interest given for loan upto Rs 35 lakhs. The point which is to be noted is, the cost of the house should not be more than Rs.50 lakhs.

This step is a much awaited step in the real estate sector and especially for the affordable home buyers.

If, we see the last years units then, the cost of housing units have increased much over the recent years and with the help of giving relief to first time home buyers, this will boost the reality sector to some level.