Now, the Budget 2018 is round the corner. There are experts from all the areas keeping an eye on the changes that Modi Government can bring in the real estate arena through Budget 2018. Bombay stock exchange and National stock exchange has seen a lot of ups and downs in last week. There are experts who are saying that Modi Government is expected to grant industry status to the real estate arena. This is a great thing if it turns out to be true. Then, the industry may get more benefits and the functioning will become smoother.
Realty 360 Degree Experts also believe that Mr. Arun Jaitley will try to meet real estate industry’s Budget expectations. The budget may give focus on boosting housing and infrastructure. This will also have great impact on the multiple sectors of the economy. The jobs will increase and consumer spending capability will increase further.
Overall Budget 2018 Impact on Property will be good and it will improve the liquidity in the market. Check out how budget 2018 can affect property buyers?
Developers are also asking for greater clarity pertaining to the GST regime. With multiple taxes, such as GST, and registration, being levied on property transactions, buyers have become hesitant to invest in real estate, they argue. Buyers, hence, are looking for rationalization of the taxes by the government. There is a huge demand for more tax incentives for the benefits of home buyers. And, then buyers may shun wait and watch policy and actually buy some units. This will enhance the sales improving the sentiments of the real estate arena. There will be a quicker growth of this big industry.
Many key developers are expecting there will be a complete clarity when it comes GST. As there are stamp duty, registration duty and GST- multiple taxes people are confused and hesitant to invest their hard earned money in the property right now!
There are also expectations from the government that it will double the tax benefit that is available for the 1st time home buyers. Right now, the tax benefit available is INR 50,000 (Current level). The experts at the Realty 360 Degree believe that these expectations is entertained by the Modi Government the industry will see huge growth.
These are some of the main expectations from the expansion of the real estate sector, Realty 360 Degree said. Budget 2018 Impact on Property may be positive, it added.
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