<h1>Finance Minister Announces 2016-17 Budget Measures for Affordable Housing, Including Tax Changes and Extended Project Timelines.</h1> The Finance Minister announced measures to enhance the affordable housing and real estate sector as part of the General Budget 2016-17. Key changes include counting carpet area instead of built-up area for tax exemptions, with specific limits for metropolitan and other areas. The completion period for housing projects under the scheme is extended from 3 to 5 years. Tax on unoccupied houses post-completion will apply after the year of receiving a completion certificate. The holding period for long-term capital gains is reduced from 3 to 2 years, and indexation base year shifted to 2001. Capital gains tax exemptions are proposed for land pooled in Andhra Pradesh's new capital project.