Real Estate News

  • Everything you Need to Know about Protecting your Home from Coronavirus

    With the increasing concern of Coronavirus around the world, it has become extremely important to keep your surrounding and yourself clean and hygienic. Even though coronavirus is not airborne, it can be transferred by coming into physical contact with the affected person. We discuss the ways which will help you keep your home from getting affected by the COVID-19 virus.   What is Coronavirus? More than 1,00,000 people globally are affected by Coronavirus. The number of confirmed cases is rising every day and while there are unconfirmed cases as well, the fear of the virus spreading globally is lurking.   Ways to prevent your house ...

  • According to the Reports, Millennials to Drive the Realty Demand in India

    The real estate of the country has been witnessing a slow down for the past few years and the government is making all the necessary effort to revive the sector. In times when the sales and demand of properties, reports show that the millennials are playing a major role in lifting the real estate sector of the country. According to the reports, about 75 percent of the millennials hope to buy or invest in property in the next three years. It also highlighted the fact that the millennials are considering affordability when it comes to buying a property.   The report stated that less than 5 percent of the millennials prefer to buy a home p...

  • What Budget 2020 Brought for the Real Estate of India?

    On February 1, 2020, the Finance Minister Nirmala Sitharaman presented the annual Budget 2020. This is the government’s second budget of the term.    The Finance Minister, in her speech, said that “Fundamentals of the economy are strong and that has ensured macroeconomic stability. Inflation has been well contained. Banks saw a thorough cleaning up of accumulated loans of the past decade, and then they were recapitalized. Companies were provided with an exit through the IBC. Several steps on the formalization of the economy were taken up.” However, there were certain provisions made for the real estate sector of the country. we l...

  • Rental Income Taxation of NRIs Post-Budget 2020

    Budget 2020 made it clear for the NRIs incurring rental income in India will now have to pay taxes for the same proposing the stricter norms for the IT Act to stop the abuse of existing norms.    Finance Minister, Nirmala Sitharaman, presented the Budget 2020 on February 1, 2020. The budget proposes to amend Section 6 of the IT Act to stop the people from taking advantage of the existing one. The FM mentioned in her speech about the instances where the NRIs earning the rental income in India reported that the income in the country of their current residence and evaded in paying taxes altogether.  The Finance Minister stated that, if y...

  • Key Highlights of Budget 2020

    On February 1, 2020, the Finance Minister, Nirmala Sitharaman presented the budget for the year 2020-21 and announced sops, tax breaks, the major push towards the youth employment and youth-centred programs. The Budget 2020 was themed around ‘Ease of living’, and the Finance Minister estimated growth of 10 percent GDP for the year 2020-21. The total expenditure for this year’s budget is Rs 30.4 lac crore.  We discuss the key highlights of the budget here: Big gains on affordable housing: Modi government has been making several efforts to boost the ‘Housing for All by 2022’ agenda. To boost it further, the FM announced that ...

  • Everything you Need to Know About the Taxes Levied on the Ready-to-Move-in Homes

    When it comes to buying a house, the ready to move in properties are very popular among the potential buyers. The buyer gets exactly what they see, the fewer tax liabilities than the under-construction properties and no wait time for the possession are some of the many advantages that they buyer enjoys when investing in the ready to move-in homes. We discuss the taxes levied on the ready to move in homes: GST: Currently, according to the new tax regime, the GST is only applicable to the properties that are under construction. The projects that have received the completion certificate will not have to pay the GST applicable. However, th...

  • Everything you Need to Know About the Progress of Smart Cities in India

    On February 1, 2020, the FM rolled out the Budget 2020, and it is essential to note that five new cities have been added to the list of smart cities. Several states may have to contest to develop these smart cities. By the interest shown by the states, the authorities may decide the result after the competition. The states will have to provide land and sign a state support scheme to support the development. The Finance Minister in her speech said that for the upcoming corridors, the revitalization of upcoming activities, technology, and the demand of aspirational class would be kept in mind while developing the smart cities.    Online dat...

  • Changes Made in the Tax Slab for Salary Class in Budget 2020

    Budget 2020 has proposed specific measures for the salaried individuals, and it is expected that the demand in the real estate sector will trigger as a result of it. The Finance Minister, Nirmala Sitharaman, announced that the changes in the income tax slab would simplify the tax payments. By lowering the taxes, the Budget limits the exemption enjoyed by the taxpayers.  The Finance Minister in her speech while presenting the Budget 2020 said, “The Income Tax Act is riddled with various exemptions and deductions which make compliance by the taxpayer and administration of the Income Tax Act by the tax authorities a burdensome process. To ...

  • Budget 2020 puts further emphasis on PMAY-U

    Prime Minister, Narendra Modi’s highly ambitious dream of ‘Housing for All by 2020’ has garnered much attention and praises from media and fellow countrymen since the project has been launched. The slow progress of the scheme is due to the fact that the government is leaving no stone unturned to make the dream reality.  Let us discuss it further:   Union Budget from 2018 to 2020 boosts PMAY-U   From 2018 to 2020, PMAY-U has been mentioned in the Budgets. In 2018, a separate fund for this segment was set up under the National Housing Bank (NHB). Affordable housing got the much-needed industry status, and the developers got the ...

  • According To The Economic Survey, The Builders Must Reduce The Price Of Units

    According to the Economic Survey 2019-20, it is estimated that the developers across the country are sitting on unsold inventory estimated for about Rs 7.7 lac crores. To make it easy for themselves and deal with the liquidity crunch, experts suggest that the developers will have to reduce the cost of the units which will help in boosting the sales and hence the flow of cash.    The Survey states that the real estate sector, residential property, in particular, have been reeling with issues of delayed project deliveries and stalled projects, leading to a build-up of unsold inventory over the years. The Survey also mentions that the housin...

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