Budget 2013: Chidambaram's big incentive to buy a home this year
First home buyers got a shot in the arm after Finance Minister P Chidambaram announced additional deduction on payment of interest for homes below Rs. 25 lakh.
First housing loan of up to Rs. 25 lakh will be eligible for extra Rs. 1 lakh tax deduction, Mr Chidambaram said. Currently, the deduction limit for payment of interest for self-occupied property is Rs. 1.5 lakh.