Budget Wishlist of Developers

Here is the Wish List of Property Developers of India in the forthcoming Union Budget.

• Doubling the deduction for home loan interest to Rs0.3m (vs. Rs0.15m) and principal repayment to Rs0.2m (vs. Rs0.1m).
• Extend IT exemptions for affordable housing under construction after Mar-08; also introduce restriction on value of apt, along with fixing eligibility ofbuyers;
  
• Relax ECB norms in dev of township by extending their deadline greater than Dec-10.
• Steps to implement uniform stamp duty rates across states (vs. current range of 5%-15%), along with rate reduction
• More measures taken to boost rental housing through a strong legal system and
  renewed focus on slum redevelopment is required
• Government should provide additional fiscal incentives to encourage green buildings

Its anybody's guess on what the Finance Ministry will do with the Current Account Deficit at new high and the ongoing problem of Inflation.