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Whats New Urban Street shopping hub is shopping destination within Conscient Habitat78 Complex Sector -78 Faridabad.Shops Rate: Rs. 9750 per sq. ft. Shop Size: 250, 285 Sq. Ft.,*Inaugural Discount Rs 500 per sq. ft. Call: 9891700111 On: 21-Oct-2018, Terra Group, now proudly announces the launch Govt. Approved affordable group housing Terra Lavinium Sector 75, Greater Faridabad.2 & 3 BHK starting Rs 20.43 Lac. With 90% bank loan. Call Now: 9891700111 On: 08-Jun-2018, Puri constructions, now proudly announces the launch of G+2 Lavender independent Floors at Amanvilas Sector 89, Faridabad, 3 BHK Lavender independent Floors @ 40.95 Lacs. RERA approved project Reg. No. 120 of 2017. Call: 9891700111, 9911241699 On: 09-Jan-2018, Conscient Habitat, Sector 78, Faridabad- Application Amount for 2 BHK- RS.99,000/- , 2 BHK+ Utility – RS.- 1,28,000/- Total Cost for 2 BHK is Rs.19,91 Lacs 2 BHK+ Utility - Rs.25,68 Lacs. Call Now 9911241699 On: 09-Jan-2018, Invest 1 time & earn rent for life time. Omaxe Launches LEISURE & GAMING ZONE AT HI – FUN in WORLD STREET, Sec-79 Faridabad. Booking Amount 1 Lac , Assured return 10-11% P.A. Min investment 4 lac. 21 years lease rights. Call for more information: # 9891700111 On: 20-Nov-2017, Adore Realtech now Launches Happy Homes Exclusive Sector 86 Faridabad 3 BHK @ Rs. 26.33 Lac. With 90% bank loan. Call 9891700111 On: 30-Oct-2017, Puri constructions, now proudly announces the launch of Puri Amanvilas - Luxury Air conditioned Floors @ Faridabad starting Rs 52 Lac.Kitchen Cabinets and Bedrooms with Cupboards, Largest Room Sizes in ITS Class. Pooja Niche Attached to Living Room,Laminated Wooden Flooring in all Bedrooms. Apply Now ! 9891700111. On: 03-Apr-2017, Never Before Never Again Offer on AAGMAN by AGRASAIN SPACES,Haryana Govt Affordable Homes with "NO EMI TILL POSSESSION" Just Pay 5% on application,20% on Allotment & balance on Possession. Choose from a range of 1,2 & 3 bhk units...starting Rs 13.22 lacs onwards. Call 9911241699 for more details. On: 03-Apr-2017, After the Success of Happy Homes, Adore Group is coming up with new affordable project” ADORE HAPPY HOMES GRAND” at most prime location(NEXT to PURI PRANAYAM) in Sector 85 Faridabad. 2BHK & 3BHK @ 19.16 Lac. Application Amount: 2 BHK- Rs.1,05,000/- , 3 BHK – Rs.- 1,35,000/- (Approx) Bank Loan Available by all leading Banks. Call 9810933600 for more details. On: 23-Sep-2016, TDI Infracorp Ltd is coming up with “TDI THE RETREAT” Gated Residential Plots in Sector- 89, Faridabad. The plot size ranges from 241 Sq. yd to 500 Sq. yds . Price ranges from Rs. 22500/- to 25000/- per sq. yard. Booking Amount 10% of BSP. For more details Call: 9810933600 On: 12-Jul-2016, Mansha Group presents "MANSHA GREENS " on NH-2 Palwal with 15 months easy installments payment plan with free hold Plot size 138,165, 175,181 Sq Yd Inaugural Rate is Rs.12000/- per Sq Yd all inclusive. For more details Call: 9810933600 On: 20-Jun-2016, Vipul Plaza Faridabad Commercial Shops Sector 81, Faridabad. Vipul Plaza consists of Office Space, Food Courts and Retail space. For more details Call: 9891700111 On: 19-May-2016, Omaxsun Office Spaces Sector-79, Faridabad. Book your office space at the BSP of Rs. 5000* Per sqft. And avail Inaugural Discount of Rs. 250* per sqft. Effective BSP Rate Rs 4750*per sq ft. With Buy Back Guarantee from Omaxe at Rs. 5500 per sqft. & Assured Return of 12%* Call: 9810933600 On: 27-Feb-2016, Confirm allotment of 3 BHK HUDA approved Affordable housing project Auric City Homes Sector-82 Faridabad. Limited Units for short Period only. Bank loan available. Call:- 9810933600 On: 24-Oct-2015, Omaxe presents Royal Street Retail shops at Omaxe City Centre, Sector-79, Faridabad. BSP Rs. 5500 - Rs.8500 per sq.Ft. and Rs. 250 inaugural discount for very short period. 12% assured return. Booking Amount: First Floor: Rs. 2 Lacs, Ground Floor 2.5 Lacs .Call 9810933600 for more details. On: 10-Mar-2015, RPS Launches Infinia Executive Office / Scalable Spaces / Professional Office Essentia (Tower-4) & Oxy (Tower-5) at Main Mathura Road NH-2 Faridabad,Delhi NCR. Just 5 minute drive from South Delhi. BSP Rs. 6500/- Per.sq.ft Booking Amount 10% of BSP.Call 9810933600 for more details. On: 01-Mar-2015,
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Latest News
Affordable housing gets another boost in Budget 2019: Niranjan Hiranandani, NAREDCO 02-Feb-2019

NEW DELHI: Homer seekers have reason to be happy with the budget speech of the Hon’ble Minister Shri Piyush Goyal. For real estate in general and housing in particular, this is a positive budget speech. For the economy, it focuses on the farm sector and the middle class. I would rate it as “9 out of 10”, because the Minister has laid out the path to successfully work out a balancing act. He has given tax breaks, enhanced benefits while not increasing taxes – and yet, has shown a roadmap that will keep fiscal deficit in control.

NAREDCO had submitted a representation, with specific points that would benefit home seekers and the industry, it is satisfying that the representation was taken in the right spirit and we see some of those points reflected in the Minister’s Budget Speech. He also mentioned that there was an on-going effort to reduce 
GST burden on homebuyers; he spoke about formation of a Group of Ministers who are looking into this, as the effort was towards reducing the GST burden on homebuyers.

Among other points that the Minister mentioned, the first to my mind would be extending benefits under Section 80-IBA of the Income Tax Act for one more year. This will enable creation of more homes under affordable housing. This will be applicable to housing projects approved till 31st March, 2020.

Secondly, with the aim of giving impetus to real estate, the Minister has proposed extending the period of exemption from levy of tax on notional rent, on unsold inventories, from one year to two years. This will be applicable from the end of the year in which the project is completed, and this will ensure that the slow-down in creation of fresh stock as a result of the previous situation, wherein the exemption was only for one year, will be positively impacted.

For families which have more than one house – one in the home-town and the other in a location where family members work or have a job - currently, income tax on notional rent is payable in such cases i.e. if one has more than one self-occupied house. Considering the difficulty of the middle class having to maintain families at two locations on account of their job, children’s education, care of parents etc, the Minister mentioned a proposal to exempt levy of income tax on notional rent on a second self-occupied house.

The benefit of rollover of capital gains under section 54 of the Income Tax Act has been proposed to be increased from investment in one residential house to two residential house for a tax payer having capital gains up to Rs 2 crore. This benefit can be availed once in a life time. The Minister gave the example of Mumbai, wherein a family sells a house in South Mumbai and buys two houses in suburban Mumbai, and the benefit of this was availed only on one of the new homes. Describing this as something that is becoming a norm across urban centres in India, the Minister said this would help families in a similar situation. 

In my thought process, two things that could have also made it to this positive Budget speech - which were missing as regards the housing sector – granting of industry status to real estate as a sector, not restricting it only to the affordable segment; as also section 43-C of the Income Tax Act, wherein tax is levied when prices are reduced. Also, the NBFC deadlock and stressed asset problems could have been dealt with in terms of solutions in the Budget speech.

The one paradigm change in real estate, the new regulatory regime under RERA came in for mention from the MInister. He said RERA has helped in bringing transparency in real estate sector, and I concur. The Minister mentioned in his budget speech that India is poised to become a $5 trillion economy in 5 years and aspires to become a $10 trillion economy in the next 8 years. This will obviously augur well for real estate and we look forward to positives in days to come.

Source: February 01, 2019 realty.economictimes.indiatimes.com


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