Budget announcements set to boost India's residential property market

India’s residential real estate market is set to see a boost with moves that will increase the supply of properties for sale and demand. Experts point out that change announced in the 2016/2017 Union Budget will see a reduction for first time buyers of INR 50,000 on interest repayment for loans up to INR 35 lakh where the cost of a house is INR 50 lakh and this will boost the demand for housing at the lower end of the market. This move is also likely to benefit purchasers in tier II and tier I...