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Real Estate Forum on Union Budget

Real Estate Property Discussion Forum and Guide to Real Estate Queries

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Q: What can the real estate sector expect from the union budget 2015-2016?

Latest Answer: Hi, Everyone Real estate business will be depending on the around area and infrastructure, it will be famous area, So easily budget is day by day increasing.
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Q: 1-REIT -Impact of tax reform.
2-Demand & Supply of residential real estate market.

Latest Answer: Hi Guys, In my point of view , there is no relief for the common men, especially senior citizens, for whom there are no special facilities as in Western countries. People like me fail to meet monthly expenses from pension alone. Arun Jaitley should initiate steps for immediate relief of aam aadmi,
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Latest Answer: Don't worry, the Union budget should bring a significant decrease in interest rates on home loans. The Ministry for Urban Development and Housing had made it clear that it would maintain a sharp focus on reducing home loan interest rates, and the budget will hopefully bring firm evidence of this focus.
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Q: Has the real estate experts estimated what percent of affordable home sales will go up?
Latest Answer: Due to the budget announcement, luxury housing might impact marginally. This is about a provision related to property worth over Rs 1 crore. The rate of abatement on homes and flats of above 2,000 sq ft, or costing Rs 1 crore and above, has been reduced from 75 percent to 70 percent in the Budget. According to a real estate expert, the benefit will motivate property buyers in small cities. It was said that there will be some benefits in selected locations like Noida Extension in the NCR, but there won’t be any benefits in markets such as Mumbai.
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Q: Who are going to get affect by this year budget?
Latest Answer: The big disappointment was for real estate-focused private equity funds. Realty funds are covered under the alternative investment fund (AIF) II category which the finance minister did not touch upon. The industry was hoping that the tax benefit available to AIF I category (venture funds and infra funds) would be extended to other AIFs.
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Q: What can be expected in real estate from the Union Budget? Any new updates?
Latest Answer: As per data, housing shortage of the country is very high at 18.1 million houses and an incremental need is around another 10 million houses which needs a pragmatic and practical look at the real estate sector at the moment. Also, the current need is to treat affordable housing as priority and the rates of interest for housing loans should be brought down to an acceptable 7.5 per cent.
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