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Union Budget 2014: Real estate sector is going to gain a lot
Finance minister Arun Jaitley, on Union Budget 2014 announced a number of measures to spur the slackening real estate sector. He allocated Rs 7,060 crore for the development of 100 smart cities, relaxed norms for the entry of foreign capital and tax relief on home loans. It ids going to trige the real estate sector definitely.
Moreover he reduced the size of real estate projects eligible for FDI from 50,000 sq metres to 20,000 sq metres and halved the minimum investment limit for FDI to $5 million, but said that builders who allocate at least a third of their projects for low-priced homes, will be exempted from these caps.
Chalakudy Real Estate
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