Page 216 - NHB AR 2020-21-3 complete- Print (1)
P. 216
tax holiday for notified affordable rental housing projects.
• Extension of time limit for availing exemption on gains from sale of residential property
via investment in start-up.
• Provisions for variance between Stamp Duty Value and Sale Consideration relaxed in case
of specified residential unit.
• Exemption from withholding tax on dividend credited or distributed to REITs.
• Amendments in custom duty rates.
1.5 Housing Segment
The COVID-19 crisis significantly impacted the residential real estate market. Health concerns
and stay-at-home orders led to fewer buyers looking for homes and fewer sellers willing to
list their properties or allow strangers to enter their homes during a pandemic. Once the
unlocking process was initiated, housing market showed some initial signs of recovery
during Q2FY21 (Growth rate of 1.37%) in terms of housing demand through credit supply.
The quarter wise outstanding portfolio of housing loans by SCBs and HFCs are portrayed in
the graph. Growth rate picked up since September’20 onwards.
In the fourth quarter of the fiscal year 2020-21, the pace of recovery in the housing loan
segment was intensified by recording the sequential growth of 4.35 per cent in Mar’21 over
December’20, supported by favourable interest rates, adequate liquidity, and steep discounts
by developers to clear inventory, besides reduction in stamp duty by a few states.
Source: RBI, NHB
196 | Annual Report 2020-21
• Extension of time limit for availing exemption on gains from sale of residential property
via investment in start-up.
• Provisions for variance between Stamp Duty Value and Sale Consideration relaxed in case
of specified residential unit.
• Exemption from withholding tax on dividend credited or distributed to REITs.
• Amendments in custom duty rates.
1.5 Housing Segment
The COVID-19 crisis significantly impacted the residential real estate market. Health concerns
and stay-at-home orders led to fewer buyers looking for homes and fewer sellers willing to
list their properties or allow strangers to enter their homes during a pandemic. Once the
unlocking process was initiated, housing market showed some initial signs of recovery
during Q2FY21 (Growth rate of 1.37%) in terms of housing demand through credit supply.
The quarter wise outstanding portfolio of housing loans by SCBs and HFCs are portrayed in
the graph. Growth rate picked up since September’20 onwards.
In the fourth quarter of the fiscal year 2020-21, the pace of recovery in the housing loan
segment was intensified by recording the sequential growth of 4.35 per cent in Mar’21 over
December’20, supported by favourable interest rates, adequate liquidity, and steep discounts
by developers to clear inventory, besides reduction in stamp duty by a few states.
Source: RBI, NHB
196 | Annual Report 2020-21
