Delhi Development Authority (DDA) has recently passed its budget for the year 2013-14. The main thrust of the DDA budget is affordable housing and the preservation of green areas.
Affordable housing sector is the main focus of DDA Budget 2013-14.
In a meeting held on Tuesday, Delhi Development Authority passed its DDA budget for the year 2013-14. The budget is passed with a special focus on affordable houses. Besides the focus on the affordable houses, the budget includes special provision for the maintenance of green areas in the city.
Low-income housing or affordable houses will be boosted. However the development authority plans to develop the affordable houses in the outskirts of the city. Infrastructure projects also are likely to be boosted by the newly launched DDA budget.
DDA chairman Tejinder Khanna said that a chart will be prepared before the next meeting of the authority. The chart will include each project’s timeline and expected date of completion.
Once the chart is prepared, it will be easier for DDA to monitor the development of all projects and its delay. This will help the Authority accelerate the slow moving projects in the city. Continue reading
With the Rs.1 lakh deduction on interest rates on home loans up to Rs.25 lakh, the first time home buyers alone may benefit from the Budget 2013-14 which was presented in the parliament on Feb 28.
Budget 2013-14 will help the first time home buyers
The much awaited Budget 2013-14 was presented in the parliament by the finance minister on Feb 28. This year the budget did not have many sops to the real estate sector as a whole.
However real estate sector will benefit from the budget as it includes deduction of interest in the home loans by the first-home buyers. Those who plan to buy home for the first time can gain tax exemption and deduction in the interest rates up to Rs.1 lakh.
This will have more effect on the middle income class and so the buyers of this class will have a reason to be happier. Continue reading
Budget 2013 -14 was awaited with lots of expectations and hopes. The budget, announced by the Finance minister today, was received with mixed feeling by the common population.
P Chidambaram announced the Budget 2013.
Finance Minister announced the Budget 2013 today. This is his eighth finance budget and the first one after returning to the Finance Ministry, as its head last year. The budget slightly slapped the top-earners by imposing overload on their shoulders. Many of the luxury items will become costlier while a few common goods will become cheaper.
Foreseeing the 2014 general election, the Finance Minister remained highly keen to offer some sops to the tax payers (income). On the other hand; by raising the duties on luxury and imported vehicles, mobile phones and cigarettes, the finance minister slapped the ‘ultra-rich’ millionaires of the country.
Tax Proposals in the Budget 2013 -14
The budget proposed to raise an additional Rs.18,000 Cr in the form of tax. However the budget has not made any changes in any of the tax-slabs. Mr. Chidambaram gave a tax benefit of Rs.2000 to all the individual tax payers with income up to Rs.5 lakh.
As there is no alteration and revision of slabs the income payers will have to pay as per the existing slabs. As per the existing rates an individual with income between Rs.2 to Rs.5L will have to pay 10%. In the same way, those with above Rs.5L will have to pay 20% and those above Rs.10L will have to pay 30%. Continue reading