Opinion | Redefinition of affordable housing, GST rate cut can boost real estate

Homebuyers are inundated with good news. Earlier this month, the budget proposed an additional deduction of ₹1.5 lakh on interest paid on loans for affordable housing priced up to ₹45 lakh. Last week, the State Bank of India reduced its marginal cost of lending rate (MCLR) by 5 basis points across all tenures. By themselves, both measures are likely to have a limited impact. The addition…