The Sheikh Zayed Housing Programme has approved 417 Emirati applications for home grants and loans worth Dh208 million.
The programme will allot 7,000 new home grants to be handed out on a monthly basis throughout the year, reported The National's Arabic sister paper Al Ittihad on Tuesday.
People whose salaries exceed Dh10,000 and are able to pay off their debts are offered loans, while those earning less than that amount are given grants.
Sheikh Hamdan bin Mubarak Al Nahyan, the Minister of Public Works and Chairman of the Sheikh Zayed Housing Programme, has ordered that the recipients of housing assistance be announced on a monthly basis, with beneficiaries coming from all emirates.
The beneficiaries will be sent text messages informing them about the final approval.
Emiratis can visit the programme's website, www.szhg.gov.ae, to know the procedures for obtaining aid.
[ newsdesk@thenaational.ae ]
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Sector: FinTech
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Stamp duty timeline
December 2014: Former UK chancellor of the Exchequer George Osborne reforms stamp duty land tax (SDLT), replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:
Up to £125,000 – 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; More than £1.5m – 12%
April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.
July 2020: Chancellor Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.
March 2021: Mr Sunak extends the SDLT holiday at his March 3 budget until the end of June.
April 2021: 2% SDLT surcharge added to property transactions made by overseas buyers.
June 2021: SDLT holiday on transactions up to £500,000 expires on June 30.
July 2021: Tax break on transactions between £125,000 to £250,000 starts on July 1 and runs until September 30.