The new Finance Minister, Nirmala Sitharaman presented the maiden budget of the Modi 2.0 government and is only the second female Finance Minister to have ever present the Union Budget. Experts have declared this budget ambitious and far-reaching. But this edition of the union budget does have something in store for the real estate sector and for potential home buyers. Let's take a look.

1. The Finance Minister announced an additional tax deduction on the interest paid on home loans taken on to buy an affordable house.

2. As per the Finance Minister's proposal, the rebate can up to Rupees 3.5 lakhs per loan.

3. The rebate can be availed on loans up to rupees 45 lakhs, till the current financial year ends.

These measures have been proposed keeping mind the Prime Minister's flagship housing for all scheme, the Pradhan Mantri Awas Yogna. By subsidizing housing loans and boosting affordable housing, the government comes one step closer to achieving housing for all, in the year 2020.

This move is likely to garner sales and generate revenue that could drive the real estate sector out of its current slump. Homebuyers sitting on the fence, now have more monetary incentives to go ahead with their real estate purchase.