* Finance Minister
Mr. P. Chidambaram has announced a Rs
2,000 crore urban housing fund
* Making luxury houses costlier by cutting
abatement on service tax from 75% to 70% on a flat with a floor area of over
2,000 square feet, or prices exceeding Rs.1 crore.
* The Budget for 2013
-14 also proposed to levy a1% TDS on immovable properties (expect Agri land) of
above Rs. 50 lakh.
* The Finance
Minister raised tax deduction limit by Rs.1 lakh for first time house buyers.
* The existing
exemptions from service tax for lowcost housing and single residential units
will continue.
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