Since the last eight years, income tax slabs have not changed, so homebuyers had expected a considerable relaxation of tax benefits in home loans. Also, the recent rise in interest rates following an increase in repo rates by the Reserve Bank of India had also forced many to put a lid on their property buying decisions. In order to increase middle-class buying power, FM in the Union Budget said the income tax rebate threshold has been increased from Rs 5 lakhs to Rs 7 lakhs.