Country’s first woman Finance Minister has presented her maiden budget on July 5 and the real estate sector which has lots of expectations with her has got many announcements to cheer. Starting from rental housing to affordable housing and tax benefits to better infrastructure, here are some of the key highlights that are going to add feathers to the real estate market of India:
With few days left to the introduction of Union Budget 2019-20, the apprehensions and expectations both are high on people’s mind these days. This is so because the realty market and the investors have to bear the brunt of the budget as many plans vanish on the paper while others dream to own home goes haywire.
This being the last budget of the Modi-led Central Government the Indian real estate also is expecting some new relaxations. Here, the term new relaxation is used in the context of the reforms introduced by the Central Government that includes RERA [Real Estate Regulation Act], Demonetization, GST [Goods and Service Tax].
The real estate market of Dubai has always attracted homebuyers from various countries. This can easily be understood by the last year data which shows housing sales in Dubai was the main reason behind the steady growth of the city’s property market. However, a new survey report, published recently has revealed that this momentum will remain same this year too.
As per the report, Dubai will attract more homebuyers in 2019 that will eventually lead to growth in the real estate market.
With the onset of 2019, there is a buzz among property investors that how the Indian real estate sector will perform in the present year. With many policy formulations and implementations, the realty sector has shown a steady growth across all the segments in 2018. So, maintaining the same momentum, this year too the market is expected to show a steep growth, suggest experts.
Dubai has always remained a realty hotbed amongst most of the hi-end homebuyers who want to invest here. Reason being, a sound infrastructure, well-developed connectivity, and timely delivery of projects that attract home buyers to come and buy property here. This has led to the launch of several projects in Dubai.
In recent times, a new trend which is taking over the real estate of Dubai is of the Branded Residences. These luxury and fashionable residences are attracting many up segment home buyers due to which several developers are now tying up with top brands to develop more such projects.
In the last two years, the Indian real estate market has seen major transformations. With the implementation of policies like RERA, GST, PMAY housing scheme and others, property buyer’s confidence has become stronger than ever. While RERA and GST were the major highlights of 2017, other key reforms like the National Urban Housing Fund, REIT, Insolvency, and Bankruptcy code were the developments of 2018.
According to a latest report by a global realty firm, the Ultra-rich high-net-worth individuals (HNWIs) continue to prefer Dubai when it comes to property investment in premium luxury properties. The report says that more than 38, 000 millionaires have shifted into Dubai over the last two decades making it a realty hotspot.
“Dubai is currently home to approximately 55, 000 millionaires and 33, 000 HNWIs who are based in other countries and already have their second homes in the Emirate. Most of these investors were attracted here due to the quality lifestyle and relative safety in Dubai along with its premium housing options and other amenities,” Report revealed.
Good news for investors and homebuyers! The Noida Authority is all set to allot 442 unoccupied plots in different sectors under the ‘last’ residential scheme of the city. These plots will be allotted this month only as per the respective circle rates of these particular sectors.
Giving more details about the scheme, Noida Authority officials informed that interested buyers can apply from November 13 to 28 and the plots will be allotted through a proper bidding process. They further stated that the authority has already conducted survey on these plots and hence issued the tender for the same.
The Yamuna Expressway Industrial Development Authority (YEIDA) has announced the launch of a new scheme on October 9 under which they will be selling over 1000 plots near Jewar Airport. The plots will be available in various configuration and buyers will get the allotment after two years.
As per the authority officials, interested buyers can apply online for the scheme from October 11, while the brochures will be available from October 15. The plots will range between 120 and 500 square meters and they will be located in sectors 18, 19, 20, 22A, 22C and 22D.