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Real estate body wants reduction in home loan interest to boost sales - Zint Design
The real estate industry has urged the government to reduce interest rate on home loans to 7% and increase income-tax deduction for interest paid on housing loan to Rs 5 lakh to help revive demand after home sales grew just 1% in 2019. Presenting its wish list for the upcoming Union budget, industry body National Real Estate Development Council (Naredco) has also asked the government to redefine affordable housing to extend tax benefits to bigger houses that cost more than Rs 45 lakh. A representation in this regard has been given to the Finance and Housing ministry. Developers pointed out that a revival in housing industry