As the Budget 2018-19 is about to be released the anticipations have begun. The real estate market is expecting some good news and is looking forward to a developer friendly and a buyer-friendly budget.
Whenever there is Budget coming up the air is filled with assumptions and expectation for a better market and the best developments. Now Budget 2018-19 will play a crucial role and the real estate sector is really looking forward for some drastic amendments for the growth of the sector.
Now for the market to do well ‘Buyers’ play a vital role. So, it is very important that the budget should be buyer friendly so that the growth quotient can be high. What exactly are the Home Buyers expectations from Budget 2018 let’s have a look –
- Reduction in income tax slabs.
- The lower rate of interest on home loans.
- Reduction in the Goods and Services Tax (GST).
- Reduction in stamp duty.
- Increase in the cap on interest and principal deductions.
A happy buyer is a person who changes from prospective buyer to homeowner. Therefore buyer satisfaction plays a key role.
Now there are certain expectations of the Builders as well from Budget 2018 which helps the sector grow better. Let’s have a look at some key pointers –
- Industry status for real estate.
- Capital for land investments in the affordable housing segment.
- Single window clearance/smoother approval process.
- Reduction of long-term capital gains holding period for REITs.
Now there are all kind of buyers in the market whose need vary from 1, 2 BHK to penthouses and villas. The budget should be such that it makes the buyers happy and the developers motivated to deliver some excellent work.
With crossed figures and high hopes, real estate is waiting for the Budget 2018-19