Real Estate News
-
Real Estate Developers should take Lessons from the Past Year
Buying a house is a once in a lifetime investment for most of us. It is as much emotional investment as it is financial. Owning a home is a dream that people have for most of their lives, and when they take the plunge to invest in the one that fulfils not only their needs but also requirement, they don’t shy away from making sure from every corner that the investment won’t go wrong. Money is a crucial part of home buying, but one cannot overlook the emotions that drive the property investment. The developers always advise the buyers to keep their feelings at bay when buying the property, but alas it never works. Since the last year has...
-
Know about Indian Real Estate Market Game for the Year 2019
The Indian real estate market might have gone through a rough patch initially in 2018; it is expected to improve in 2019. Prospective home buyers are hopeful for a quality boost to changes. The introduction of RERA, as well as GST, has brought some transparency in the real estate market post demonetisation. Numerous institutional investors have revived interest. Besides, capitalisation of affordable housing as well as Credit Linked Subsidy Scheme (CLSS) with loans availability at affordable interest rates have rebooted the entire market. The current tax structure on the properties that are not sold has left uncertainty in property buye...
-
Increase in the Cost Remain Moderate in the Last Five Quarters
According to the report issued by the Reserve Bank of India, the prices in the real estate market has seen a moderate rise in the last five quarters. Though the sales have picked up the pace, the prices still are the same. Since the first quarter of the financial year 2015, the all India housing price index dropped to 5.3 percent from 16 percent in the second quarter of the current fiscal year. Even though the sales are not as expected it would be since the introduction of RERA and GST; the developers are stocked up with unsold inventory. This is one of the primary reasons that the prices have not seen a jump but a moderate rise. However, ...
-
Housing and Decor Trends to Watch Out for in 2019
With prices being stagnant and the low interest rates offered by the banks and financial institutes, the potential buyers are hoping to buy the house of their dreams or are gearing up to give their home a makeover. Before you take a step further, there are some trends that are worth giving a thought. Sustainable construction In 2018, the word ‘sustainable’ dominated the real estate sector across the world. The trend is here to stay for this year as well. Use of sustainable concrete, environment-friendly construction and design materials were widely used and promoted. It is no news for people that the construction materials pose harm...
-
GST on Under Construction Homes to Reduce
In the upcoming meeting this month, the GST council is supposedly lowering the GST levied on the under construction flats. Currently, the GST that is applicable for the under construction flats or the properties which have not received the completion certificate at the time of purchase is 12 percent. The council will be deciding to reduce it to 5 percent. The GST is not levied for the properties that have received the completion certificate. According to the council officials, the entire 12 percent GST would have partially offset by the way of taxes paid on input by builders and the actual GST that the buyers should end up paying should be...
-
Finance Ministry: No GST On Competed Projects, Finance Ministry
Recently, the finance ministry clarified that those projects that have received completion certificate do not attract GST and this benefit should be passed on to home buyers. GST for projects under construction is set at 12 per cent, with effect from July 2017. While the affordable housing scheme has a GST of 8 percent, in the case of joint development agreements of a project build between landowners and developers, the tax is at 18 per cent. Things to know The government decided to reduce the applicable GST rate for home buy under the Credit-Linked Subsidy Scheme (CLSS) of Pradhan Mantri Awas Yojana (PMAY), which is 8 percent. This ...
-
7 Smart Ways How to Check and Measure Construction Quality of a Property
You may have several options in the to choose from your dream home. However, it is essential that the property that you choose must be none of the excellent quality even though you get lucrative deals. After all, Developers use different strategies to sell their residential units at deals. If you are opting for an under-construction property, it is vital that you check and measure the quality of the construction. Ensure that you make surprise visits at the sites to check the quality even if it’s not an easy task. Here are some tips to take up a quality test Check the soil It is crucial to check the quality and type of soil upon ...
-
Finance Ministry Cleared the Doubts on GST for Completed Flats
Even after a year of GST (Goods and Service Tax) implementation, there are still some doubts on the application of the same in the specific area of the real estate. Buyers were concerned about the implantation of GST on the properties and flats that have received the completion certificate. On December 8, the finance ministry lead by Mr Arun Jaitely, cleared that the GST is not applicable to the flats and homes that have received the completion certificate. In the statement issued by the ministry, it stated that “It is brought to the notice of buyers of constructed property that there is no GST on the sale of the complex/ building and re...
-
2019 to be the Year of Indian Real Estate to Shine
For the past couple of years, Indian real estate has suffered a slow progression and sales. With demonetization came the new interest rates that appealed the buyers in taking a plunge in the real estate investment. Further, the introduction of GST and RERA gave the motivation. Following the same, it is expected that the Indian real estate will revive and escalate itself in 2019. The much-needed push to the affordable housing segment and the introduction of CLSS (Credit Link Subsidiary Scheme) by the government in the year 2018, made it possible for the buyers to fulfil their dream of buying a house. The present tax structure on the unso...
-
4 Ways How to Save on Remodelling Costs of Your Property
When we buy a property, we keep in mind the post expenses in future. Remodelling of your house is one of the future aspects of the expenses. Most of us do not estimate the budget well in advance. When the time comes for renovation, it becomes a challenge. At times, the remodelling cost can be way higher than the estimated value. Let us know four ways how we can save the expenses on our remodelling: Adhere to your choice: plan and make your decisions on fixtures and materials that you want to use during the renovation. In no circumstances pick more expensive ones or upgrade as this lead to additi...
