Budget Rebate 2016 – How They Will Benefit Prospective Home Buyers

Regardless of class or income, a large section of people are fond of investing in gold and real estate. Unlike metal, purchasing and selling of property is not a straightforward game, and consists of many aspects (buying, owning and selling). Besides, if played right, one can even reduce the tax outgo.

Wave City, a famous project from the Wave Group, a trusted real estate developer, has come up with low budget flats near Noida. Dream Homes, Wave Executive Floors and Wave Floors are a few of those names in which you can get residential spaces with excellent amenities at very affordable costs. Each of these developments has a starting price lower than Rs 50 lakh. Besides, the strategic location and world-class features like swimming pool, clubhouse, shopping options within the block, make it the perfect place from the investment point of view.

With the budget rebate 2016, the buyer will be entitled to a number of other benefits as well while buying low budget flat near Noida in Wave City.

1. Tax Advantages

For a majority of people, purchasing a house is the biggest decision of their life, and everyone including the developers know this well. To give buyers relief with options for low budget flat near Noida, a few tax advantages have also been made available for those who cannot afford bigger housing options.

2. Rebate in Taxation

First home buyers are now allowed to get income tax deductions, in case their low budget flat near Noida is bought on a loan. The borrower can claim a deduction of up to Rs 50,000 on interest for loan up to Rs 35 lakh. This is applicable only if the cost of the house is not more than Rs 50 lakh.

3. Cuts in Policy Rates

Reduced policy rates can lower interest rates as well, thereby benefiting the home owners further. Besides, if the borrowers without a house of their own don’t get any amount in the form of house rent allowance from their employer, they can get a reduction of Rs 24,000 per year.

Those employees, who get HRA as an additional component in their salary, they can get the benefit of rise in house rent deductions, which are now valued at INR 60,000, as compared to INR 20,000 before.

4. Service Tax

Just like home owners, plot buyers will also get service tax exemption. This is applicable under state and central housing schemes for construction of smaller house of up to 60 sq. m.

With all the aforementioned benefits, a surge is expected to be witnessed within the affordable real estate segment. This will be an imperative factor as about 60 percent buyers belong to the middle class and demand affordable yet comfortable options for homes. Hence, buying a low budget flat near Noida with Wave City in Ghaziabad certainly is a smart investment for all.