Government mulls tax incentives to boost housing sector

Government mulls tax incentives to boost housing sector

FPJ BureauUpdated: Friday, May 31, 2019, 08:38 PM IST
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New Delhi :  In order to spur investment in the housing sector, the government is considering to provide tax incentives for certain projects to ensure ‘Housing for All’ by 2022.

The tax incentives, which could be announced in the Union Budget, would aim at promoting investments in rental housing by institutional players.

Sources told PTI that the tax department is looking at the draft rental housing policy to ascertain the tax incentives that can be doled out to the sector to encourage investments in housing sector.

The draft policy has suggested tax incentives for house owners who will rent out the property, institutional owners wanting to set up mass rental housing and Property Tax exemption for Social Rental Housing properties.

It also suggested treating rental housing stocks at par with owner occupied premises in terms of property tax treatment and calculating other utility charges (water/ electricity etc).

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