Affordable housing is not a new concept anymore.
People all across India are well aware of the concept and the many benefits it brings for both the home buyers and developers.
It is a one-of-a-kind sector that has brought cheers to the real estate sector.
Tax Exemption On Notional Rent
Self-occupied second homes are exempted from notional rent, giving middle class home buyers a great reason to be happy.
Mitigating The Risk Of Unsold Residential Inventory
The acronym EET stands for exempt-exempt-taxable, which means an investor can get two exemptions on their assets.
The first exemption indicates that a certain investment is exempt.
The second indicates that dividends and interest earned throughout the holding term are tax free as well.
taxable , on the other hand, means that the lump sum received at maturity or withdrawal is taxable.
An example of EET is an equity-linked savings plan (ELSS).
An ELSS has a three-year statutory lock-in period and is eligible for a tax exemption under the IT act, which allows for a tax exemption up to $1.5 lakh.
Practically, in a country like our own, where most of the population consists of individuals and families from a middle-class or a lower-middle-class background, leading a quality life might be a task.
With the world developing so rapidly, they need to find ways to live with quality within their income range, which is not easy.
With the introduction of affordable housing projects, many of these families have now been provided with an opportunity to enhance their quality of life.
The affordable housing projects in Gurgaon are in great demand as the city is on the verge of fast development and provides enormous opportunities in all aspects of life.
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