union budget
Despite cuts in interest rates in home loans by banks, the growth in this segment has dipped as against previous years, as per Reserve Bank of India’s credit data. The trend of availing home loan to the housing sector was 13.3 percent in January 2012 which has dipped down to 12.3 percent in January 2013. One reason for [...] Continue Reading »
After the Union Budget was announced, Bangalore is expecting major developments impacting its real estate market. The recent announcement of the business corridor has brought a cheer to the city realtors. The dream project, the Peninsular Region Industrial Development Corridor (PRIDe corridor) or the Andhra Pradesh-Chennai-Bangalore-Mumbai corridor, comes close to reality, the industrial potential of [...] Continue Reading »
The home loan incentive which was announced recently by the Finance Minister with the Union Budget 2013 has been the talk since its release. The real estate developers are the group who can cheer the most with the incentive. One can claim the tax deduction only if his/her loan amount is less than Rs 25 lakh. Also, it has [...] Continue Reading »
A day after the budget, the industry estimated the sale of affordable homes could increase up to 20 percent this year because of the additional exemption granted to the first time buyers. This benefit is for property which doesn’t exceed Rs 40 lakh. In the Budget it is said that, in 2013- 2014, the first time buyers, [...] Continue Reading »
Finance Minister P Chidambaram has announced setting up of a regulator for roads in the new Union Budget is a blessing in disguise for the Indian highway sector. According to experts, now the highway sector will have a regulator to resolve the issues. Many disputes have gone to the court due to the absence of [...] Continue Reading »
With release of Union Budget 2013, the Finance Minister has proposed to offer deduction in tax on home loans to first time home buyers. This initiative has brought some cheer for the home buyers as there was no significant tax reliefs in the past. One can claim the deduction at tax only if your loan amount is [...] Continue Reading »
Luxury homes are going to cost more after the finance minister reduced the abatement on service tax availed by real estate developers for homes and flats above 2,000 sq ft or costing Rs 1 crore and above to 70% from 75%. The impact will be expanded in Mumbai for all the home buyers of under-construction [...] Continue Reading »
With the Union Budget to be presented in a week, Builders’s Association of India (BAI) expects a hike in exemption limit on the interest in home loan. At present, the exemption is set at Rs 1.5 lakh which the builders want to be set at Rs 3 lakh. The builders demand the Finance Minister to [...] Continue Reading »
Reserve Bank of India (RBI) is set to cut the CRR as well as repo rates and bank lending rates to increase liquidity in the system. With this initiative, developers in Mumbai are hoping that with the coming Union Budget 2013, it will improve investment volumes and general growth across real estate sector in Mumbai. Some of [...] Continue Reading »
With the Union Budget in the pipeline, developers have sent their wishlist to the Finance Minister to be included in the upcoming budget. The real estate developers’ body CREDAI has demanded for an inclusive housing policy and tax incentives. Presenting an inclusive housing policy, the developers’ body also demanded for housing sector to be accorded [...] Continue Reading »
