Real Estate

How budget 2018 can affect property buyers – Ram Kumar – Medium

budget 2018 Impact on property

Realty 360 Degree: How budget 2018 can affect property buyers?
In the country Budget 2018 affects each industry one or another way this is the beauty of the financial budget. If some of the key expectations are met by the Modi Government in this Budget then there are huge chances that the buyers will grab good benefits. 
Currently, the tax benefit is INR 50000 to the first time home buyers but if it doubles or increase then there will be sure shot increase in the sales of the housing units. Right now, the buyers are using wait and watch policy but they will shun this approach if they get some credible benefits. The expectation is high from the Modi Government.

This will also lead to increase in the jobs. Yes, jobs creation will be in huge number and that too in very short period. Mass job creation is only possible in the country through real estate sector. You will be glad to know that a midsize residential project gives employment to at least 1500 to 3500 people. So, you must have got some idea — How budget 2018 can affect property buyers?

Further, Realty 360 Degree believes that GST covers under construction properties however if the benefit of input tax credit is applied on all the properties then there will be positive vibes in the industry. There should be some clarity on the current GST. Due to Multiple taxes like registration duty, GST and stamp duty, may buyers have lost interest in the real estate arena and they are not investing their money in the industry.

Many key developers are expecting there will be a complete clarity when it comes GST. As there are and hesitant to invest their hard earned money in the property right now! Our experts all believe that Stamp duty should also be included into GST so that the tax burden can be minimized on home buyers or investors.
The real estate market will see happy days coming back, if some of the expectations are met in this budget. So, in this way budget 2018 will affect property buyers.

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