The homebuyers often look to purchase property at a budget-friendly cost as it allows them to avail increased tax benefit and the longest repayment tenure to repay the loan amount in easy and small installments.
While celebrating the glorious 72 years of Independence we must not forget the long way that the Indian real estate sector has covered. The not so organized property market has seen various ups and down in all these years and this blog post takes you through the journey of the milestones that the realty sector has achieved till now.
A home buying process involves a lot many things but what if your preferred home exceeds the budget? Well, this is disheartening and many people drop the idea of owning a property for some time. But, this is not a smart idea and thus we are listing all the points that prove helpful in case the property cost extra than the determined budget.
On 1st July, PM Narendra Modi introduced the Goods and Service tax with the aim to offers relaxation from the multi-level tax payment. This tax procedure includes various taxes like VAT, Service tax and more. In fact, a GST Council is also structured to discuss and track the process. This tax system is also applicable on the Indian real estate market and thus people have various apprehensions about the same. Hence, we have listed down the FAQs [Frequently Asked Questions] about GST to make dealing in the property market easy:
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].
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.