A Huge ‘Thanks’ to Finance Minister P Chidambaram! He raised the home loan exemption limit from Rs 1.5 lakh to Rs 2.5 lakh for loans up to Rs 25 lakh, bringing huge cheer to salaries class and the real estate section, which was sinking.
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In addition, people taking home loans for the first time, will get a tax exemption of Rs 1 lakh. This is for the first time the home buyers have received such huge benefits. The Finance Minister also asked people to invest more on bonds, not in gold and promised to come up with robust schemes.