Post Budget scenario: Property price will increase
According to the different Realtors, the union Budget 2012 came up as a disappointing budget for the middle range of home buyers.
Due to the rise in service tax the cost of construction of real estate projects will increase by Rs 50 to 150 per square feet from the coming April, 2012.
External commercial borrowing has been allowed for affordable housing projects. But the ECBs need to be transferred through National Housing Board.
1% Interest subsidy on home loans upto 15 lakh might be a good move, but not enough. As very less numbers of projects fall under 15 lakh.
The overall scenario of the outcome of the budget is not so beneficial for the real estate sector.
Source : Economic Times
Affordable housing projects, Budget 2012, cost of construction, disappointing budget, external commercial borrowing, home buyers, Home loans, Impact of Budget on Real Estate, Investments in real estate, Real estate and Budget, Real estate in India, Real estate projects, Residential projects in India, Service Tax
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