What does the Union Budget 2017 mean for real estate?
Finance Minister Arun Jaitley on Wednesday presented the Union Budget where he announced that ‘Affordable Housing’ will be given ‘Infrastructure’ status. He also announced that National Housing Bank will refinance individual loans worth ₹20,000 crore in 2017-18. The holding period for capital gains tax for the immovable property has been reduced from three years to two years.