Today in India, the real
estate sector is witnessing a paradigm shift. The focus has turned more towards
affordable homes rather than luxury homes, which has made it possible for the
middle and lower income groups to buy their own shelter. In residential properties,
the strategic location of the place makes it a hot cake. In making the buying
decision, excellent connectivity to all places through road, rail and metro and
public service places in the vicinity become dominant.
There are a lot of factors
that needs to be considered while looking for a suitable home. These are
social, psychological and most important of all financial factors that need to
be considered before making a decision. Some people may have more bandwidth to
splurge while some may have a tight budget within which they have to negotiate
and manage.
With the Indian Government
taking proactive steps towards “housing for all”, the dream of owning a home
will no longer remain a dream for Indians. It has also been given the
infrastructure status which is sure to increase the interest of private
builders in affordable projects. Infrastructure status will ensure easier
access to institutional credit and help in reducing developers’ cost of
borrowing for affordable projects. The reason behind taking this decision is to
ensure housing for all by the end of the year 2022.
Further announcements made
by the Indian Government are also sure to bring a radical change in this
sector. The Government has also made an announcement regarding rented
properties on which tax benefits are going to be curtailed, at the same time,
the borrower will be allowed deducting the interest paid on the home loan after
rental income adjustments are done.
According to the latest laws
related to property tax, a property that gets sold within three years of its
purchase will see the profit from this transaction as a short-term capital
gain. The taxes will apply on the same as per applicable rates.
Many countries have
witnessed turbulent real estate markets and the experts believe that it is soon
going to take a turn for the better shortly. Well-planned and thought about
steps and decisions are surely going to give a boost to this sector. The
Government is on the right track and taking decisions to ensure a much-needed
boost to this sector.
In addition to this, several
reputed builders and developers are encouraging the concept of affordable homes
by coming up with budget friendly projects. Amongst a plethora of developers
present in the country, one of them who stand out from the league is Haryana
Govt. Huda govt’s flagship project namely, breez developers is one of the best
examples of affordable housing. The group believes in offering state of the art
and Located on NH – 24, Gurgaon; Affordable Housing is truly an ideal
destination to cherish a comfortable life. With the concept of affordable
housing becoming a hit these days, innumerable people are looking forward to
making the most of this opportunity.
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