First dream home? You have something to cheer about!

If you have been vying on that dream home for a long time but were waiting for the right time, it has arrived! In the 2016 Union budget, the Finance Minister has proposed an introduction of additional deduction on interest for home loans up to Rs 35 lakh, with a rider that the value of the house doesn’t exceed Rs 50 lakh.

Isn’t it a reason to cheer for first time home buyers, especially when the costs of property units have increased manifold over the recent years?

As per Indian tax laws, a home buyer is entitled to claim both the interest and principal components of home loan repayment for tax benefits. Presently, interest payable on a ‘self-occupied’ house is subject to a maximum deduction of Rs 2 lakh under the head ‘Income from House Property’.

Real estate industry experts and tax payers were looking forward for the government to increasing the tax exemption limit for home loans, particularly in metro cities, by about Rs 1 lakh to Rs 3 lakh as the current limit of Rs 2 lakh is very trivial. Moreover, the interest, a component of one’s EMI that goes towards principal repayment is allowed to be claimed under Section 80C which can be claimed within the overall limit of Rs 1, 50,000 only.

Further, the government was also urged to consider creating a separate category of deduction for principal re-payment of housing loan, since the principal paid is currently clubbed under Section 80C with other tax-saving instruments, which is insignificant in terms of the relief it provides to the home buyer. If this demand is met, it would leave behind a higher disposable income in the hands of the borrowers, at the same time encourage investments in real estate sector.

MCHI Kalyan-dombivli property show

The stage is all set to welcome the sixth edition of MCHI property expo hosted by CREDAI’s Kalyan-Dombivli unit. Real estate enthusiasts book their calendars for this property exhibition every year from the 23^rd to 26^th of January. In 2016 too, the expo will see home buyers and investors flocking towards Phadke Ground, Near Lal Chowki, Kalyan (W) scouting for their dream homes and attractive investment options during the 4-day carnival.

Kalyan and Dombivili are one of the fastest growing areas adjoining Mumbai and are quickly gaining popularity among various sections of property buffs due to a rapid growth in infrastructure and connectivity. With the tagline “Smart Homes, Transforming Cities”, the event is a part of MCHI’s initiative to promote smart choices in real estate in the twin towns.

The exhibition promises to be the ideal destination for those who intend to buy homes in the Kalyan-Dombivli vicinity and areas like Ambarnath, Ulhasnagar, and Thakurli which are offering incredible deals both in the premium luxury and affordable segments.

Some of the best-known names from the world of real estate will be participating in this property festival. The list of Platinum exhibitors includes prominent names like Ajmera Builders, Tycoons Central Park, Regency Group, Nirmal Lifestyle, Runwal Builders, Tharwani Realty, Mohan Group, Vastu Sankalp, Ronak Group, Kuber Group, Happy Homes and many more.

Showcasing 150 projects and nearly 1000 homes by more than 60 developers in the most coveted residential areas, this property expo will surely put the spotlight on Kalyan-Dombivli & neighbouring areas.

With thousands of visitors expected at the venue, it only makes sense to register your entry to the exhibition today!

To register within seconds, click here.