{"id":5984,"date":"2015-02-25T11:21:00","date_gmt":"2015-02-25T11:21:00","guid":{"rendered":"http:\/\/www.casagrand.co.in\/?p=1566"},"modified":"2019-04-04T09:34:27","modified_gmt":"2019-04-04T09:34:27","slug":"expectations-of-real-estate-sector-from-union-budget-2015","status":"publish","type":"post","link":"https:\/\/backup.casagrand.co.in\/blog\/expectations-of-real-estate-sector-from-union-budget-2015\/","title":{"rendered":"Expectations Of Real Estate Sector From Union Budget 2015"},"content":{"rendered":"<p class=\"Default\"><span lang=\"EN-US\">With the Union Budget 2015 round the corner, there is a lot of hope for positive reforms among people in their respective sectors and real estate is no different. The developer\u2019s community has like always surfaced with its pre-budget expectations and are hoping that things will be as expected on the D-day. Here\u2019s a look at the reforms that the industry is expecting from the budget this year.<\/span><\/p>\n<p class=\"Default\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p class=\"Default\"><strong>Reduction of multiple taxes <\/strong>\u2013 At present, when it comes to buying a property there are numerous taxes that the consumer has to pay. These include service tax, Value Added Tax (VAT), stamp duty and registration charges (as high as 6% which needs to be reduced). It would come as a welcome reform if the budget reduced the burden of at least one or two of these taxes from the consumers.<\/p>\n<p class=\"Default\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p class=\"Default\"><strong>Affordable Home Loans <\/strong>\u2013 The interest paid on home loans at present ranges from 10%-11% which is highly demanding especially for middle class consumers. Reform that brings the interest rates in the range of 7% to 8% (which many experts believe is acceptable) will come in as a huge relief for consumers.<\/p>\n<p class=\"Default\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p class=\"Default\"><strong>Impact of Inflation <\/strong>\u2013 It is believed that the current skyrocketing prices of properties is primarily due to Inflation. The fluctuation in the cost of building materials like cement, concrete etc. has often lead to the forced price rise of properties. Measures to regulate these oscillating prices and standardizing the rates can help keep the prices of these materials under check.<\/p>\n<p class=\"Default\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p class=\"Default\"><strong>Access to cheaper funding <\/strong>\u2013 Foreign funds have been keeping away from Indian markets mainly due to lack of transparency and regulation. Simplification of rules surrounding Foreign Direct Investment (FDI) in real estate and reduction in taxation of Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (IITs) can help attract cheaper foreign funds which is a key aspect the budget is expected to throw light on.<\/p>\n<p class=\"Default\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p class=\"Default\"><strong>Incentives for green norms <\/strong>\u2013 When it comes to green homes\/projects, developers often face the problem where buyers aren\u2019t ready to pay extra for their homes. This in a great way hinders and makes builders reluctant to move into this segment. The budget should allow special concessions for developers following the necessary green norms to help promote green projects across the country.<\/p>\n<p class=\"Default\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p class=\"Default\"><strong>Planning for Smart Cities <\/strong>\u2013 The \u2018Housing for All\u2019 scheme that the government has announced will pave way for development of smart cities across the country. A workable and streamlined LARR (Land Acquisition, Rehabilitation and Resettlement) bill with relaxed rehabilitation clauses, if presented in the budget, can help achieve this landmark.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the Union Budget 2015 round the corner, there is a lot of hope for positive reforms among people in their respective sectors and real estate is no different. The developer\u2019s community has like always surfaced with its pre-budget expectations and are hoping that things will be as expected on the D-day. Here\u2019s a look [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":34211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[249],"tags":[284,311,530],"class_list":["post-5984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-buying-new-property","tag-nri-investment","tag-impact-of-budget-on-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Expectations Of Real Estate Sector From Union Budget 2015 - Casagrand<\/title>\n<meta name=\"description\" content=\"Here\u2019s a look at the reforms that the industry expected from the Union Budget 2015.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expectations Of Real Estate Sector From Union Budget 2015 - 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