Housing project deduction eligibility limited by carpet area caps, stamp duty value ceiling and project conditions for newly approved projects. Eligibility for deduction under section 80-IBA for housing projects approved on or after the specified approval date is limited by several conditions: ... Summary
Housing project deduction eligibility limited by carpet area caps, stamp duty value ceiling and project conditions for newly approved projects.
Eligibility for deduction under section 80-IBA for housing projects approved on or after the specified approval date is limited by several conditions: minimum plot size and sole-project requirement on the plot; carpet area caps for residential units that differ by metro or other locations; a stamp duty value ceiling per unit; prohibition on multiple allotments to the same individual or close family; mandatory utilisation of a prescribed minimum proportion of permissible floor area ratio; and maintenance of separate books of account. The amendment also defines "stamp duty value."
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