Real Estate Project Review RERA - Cheated Buyers

Real Estate Project Review RERA - Cheated Buyers

RERA progress.. status... key decisions .. problems.. see how it’s benefiting real estate buyers.

RERA is irrelevant for buyers who can't fight and who know how to enforce their right






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PreBudget - budget expectations from Real Estate Buyers 2018

PreBudget - budget expectations from Real Estate Buyers 2018

Triple tsunami — demonetisation, RERA and GST – has severally impacted real estate sector and has resulted in residential launches falling to the lowest in past five years. Similarly, new residential sales, fell to five years low to just 100,000 in fist half of 2017, down around 40 per cent during the same period.

Real estate, which contributes more than 52 million jobs in country and contributes more than 8% of country’s GDP is now expecting big bang reform, for its revival, from coming budget including:

1. Reduction of GST on under-construction property from 12% to 6%-8%. and nominal GST on affordable housing projects

2. 100% reduction on pre-construction period interest on home loans and removal of annual limit of Rs. 200,000.

3. Industry Status’ to real estate to bring down cost of funding

4. Long term capital gains holding period for REIT units to be brought down from 3 years to 1 year (at par with equity investments)

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Budget for real estate buyers is highly Disappointing

Budget for real estate buyers is highly disappointing

1. No change in GST rate. High GST rate is one of biggest barrier in revival of demand

2. No relief to home buyers on interest deduction on under construction flats

3. No relief on income tax slab to middle class

4. Affordable housing fund is too small to contribute to housing for all.

5. Allowability of 5% variation in ready recknor rate and agreement rate is too small when compared to 100s of micro  markets where market rates are lesser than ready recknor rates

6. No relief in structure of REIT

However, taxation on long term capital gain on listed equity can bring some money to real estate.

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