I think this is a good move in terms with the house sellers.. But for buyers eventually it will hurt.. This move will not cut down on the prices of the real estate.. The housing have been very very expensive.. Its really getting impossible for an average middle class earning 50k per month to own a house in any big 8 metros like, MMR, NCR, Kolkata, Chennai, Bangalore, Hyderabad-Secundarabad, Pune, Ahmedabad. Increasing the tax limit is like saying that we cannot fill your stomach with real solid food so you please drink lots of water.. So that you will feel that you are stomach full...
This approach will not work especially when there is a slow down on economy.. In fact the service tax should be removed on housing.. Stamp duty rate should be fixed band wise.. There has to be special incentives to Realtor making truly affordable housing within these metros.. Like lower rate of interest for the money borrowed to build these houses.. I think that will help..
Increasing the exsumption limit is saying that since the prices are high, the buyer should be spared by paying taxes...
One more option to cut down the cost of housing will be that, people buying second houses for investment purpose.. They should be taxed more.. Or they should be refrained from such hefty exemptions... This will make the demand to drop, and so does the prices of housing... The investor type of house/real estate investors should not be allowed to get benefit of 75-80% of loans from bank.. They can only avail 40-50% of the property price as loan.. And the ownership have to cover the entire family.. So only one house/property per family can be allowed on such tax exemptions.
I hope such majors we will see in next budget in Feb...
parag - 10 years ago
I think this is a good move in terms with the house sellers.. But for buyers eventually it will hurt.. This move will not cut down on the prices of the real estate.. The housing have been very very expensive.. Its really getting impossible for an average middle class earning 50k per month to own a house in any big 8 metros like, MMR, NCR, Kolkata, Chennai, Bangalore, Hyderabad-Secundarabad, Pune, Ahmedabad. Increasing the tax limit is like saying that we cannot fill your stomach with real solid food so you please drink lots of water.. So that you will feel that you are stomach full...
This approach will not work especially when there is a slow down on economy.. In fact the service tax should be removed on housing.. Stamp duty rate should be fixed band wise.. There has to be special incentives to Realtor making truly affordable housing within these metros.. Like lower rate of interest for the money borrowed to build these houses.. I think that will help..
Increasing the exsumption limit is saying that since the prices are high, the buyer should be spared by paying taxes...
One more option to cut down the cost of housing will be that, people buying second houses for investment purpose.. They should be taxed more.. Or they should be refrained from such hefty exemptions... This will make the demand to drop, and so does the prices of housing... The investor type of house/real estate investors should not be allowed to get benefit of 75-80% of loans from bank.. They can only avail 40-50% of the property price as loan.. And the ownership have to cover the entire family.. So only one house/property per family can be allowed on such tax exemptions.
I hope such majors we will see in next budget in Feb...
I think this is a good move in terms with the house sellers.. But for buyers eventually it will hurt.. This move will not cut down on the prices of the real estate.. The housing have been very very expensive.. Its really getting impossible for an average middle class earning 50k per month to own a house in any big 8 metros like, MMR, NCR, Kolkata, Chennai, Bangalore, Hyderabad-Secundarabad, Pune, Ahmedabad. Increasing the tax limit is like saying that we cannot fill your stomach with real solid food so you please drink lots of water.. So that you will feel that you are stomach full...
This approach will not work especially when there is a slow down on economy.. In fact the service tax should be removed on housing.. Stamp duty rate should be fixed band wise.. There has to be special incentives to Realtor making truly affordable housing within these metros.. Like lower rate of interest for the money borrowed to build these houses.. I think that will help..
Increasing the exsumption limit is saying that since the prices are high, the buyer should be spared by paying taxes...
One more option to cut down the cost of housing will be that, people buying second houses for investment purpose.. They should be taxed more.. Or they should be refrained from such hefty exemptions... This will make the demand to drop, and so does the prices of housing... The investor type of house/real estate investors should not be allowed to get benefit of 75-80% of loans from bank.. They can only avail 40-50% of the property price as loan.. And the ownership have to cover the entire family.. So only one house/property per family can be allowed on such tax exemptions.
I hope such majors we will see in next budget in Feb...
I think this is a good move in terms with the house sellers.. But for buyers eventually it will hurt.. This move will not cut down on the prices of the real estate.. The housing have been very very expensive.. Its really getting impossible for an average middle class earning 50k per month to own a house in any big 8 metros like, MMR, NCR, Kolkata, Chennai, Bangalore, Hyderabad-Secundarabad, Pune, Ahmedabad. Increasing the tax limit is like saying that we cannot fill your stomach with real solid food so you please drink lots of water.. So that you will feel that you are stomach full...
This approach will not work especially when there is a slow down on economy.. In fact the service tax should be removed on housing.. Stamp duty rate should be fixed band wise.. There has to be special incentives to Realtor making truly affordable housing within these metros.. Like lower rate of interest for the money borrowed to build these houses.. I think that will help..
Increasing the exsumption limit is saying that since the prices are high, the buyer should be spared by paying taxes...
One more option to cut down the cost of housing will be that, people buying second houses for investment purpose.. They should be taxed more.. Or they should be refrained from such hefty exemptions... This will make the demand to drop, and so does the prices of housing... The investor type of house/real estate investors should not be allowed to get benefit of 75-80% of loans from bank.. They can only avail 40-50% of the property price as loan.. And the ownership have to cover the entire family.. So only one house/property per family can be allowed on such tax exemptions.
I hope such majors we will see in next budget in Feb...