Now that the Union Budget for 2017 is out, what does it mean for the real estate sector? As a first-time buyer, should you invest in a luxury apartment? As a homeowner, should you keep or sell? With this article, we delve into the pros and cons of the budget.
- Reduction in the holding period
Investors and homeowners have considerable reason to rejoice with the Budget of 2017-18. But first, a little backstory. Short-term capital gains are taxed at 30 percent, while it is 20 percent for long-term capital assets. According to the latest policy, the holding period for long-term assets such as apartments and homes has been reduced to two years from that of three years. This means that homeowners can now resell their properties within two years of acquiring them and enjoy a reduced tax burden of 20 percent. This could result in more individuals disposing off their homes bringing in a rise in supply versus demand, which will prove to be favorable for buyers. The new budget aims to revive the real-estate sector by facilitating mobility and ownership of assets.
- Granting infrastructure status
The Finance Minister has proposed to offer affordable housing sectors with an ‘infrastructure status’. In order to qualify, homes will have to display a carpet area of 30 sq.mt. and 60 sq.mt, instead of a built-up area. If you’ve been waiting to buy a luxury apartment,now would be a good time to make a bang for your buck. As for builders, having an ‘infrastructure status’ will mean cheaper loans and better tax exemptions. These benefits will trickle down to first-time buyers who can purchase homes at more affordable rates. This is a significant move towards achieving the ‘Housing for All’ mission.
- Base year, redefined
The new budget has set the base year of indexation of long-term assets, including lands and buildings, at 2001 instead of 1981. This comes as good news for buyers. How? Previously, despite paying more on the purchase of property, tax benefits could only be redeemed at registered rates which was much lower than the market value. However, with this move, those looking to invest in property can now enjoy higher tax benefits.
- Notional rent
The tax will now be levied on builders for any unsold flats after a year of construction. Earlier treated as stock-in-trade, the same won’t hold good on unoccupied or unsold apartments anymore. Given that only one residence is maintained for self-occupation, any unsold units will be considered rented out and corresponding tax will have to be paid by the developer. In a bid to offset such incidents, it is possible that developers will try to dispose-off those expensive luxury apartments at the earliest, leaving buyers with a promising bargain.
What are foundations? Foundations are an element of a building project that are unseen once the project is complete. It is the load-bearing part of a building that typically is situated below ground level. Does this mean that they don’t necessarily matter?
Absolutely not; when planning a building’s foundations it is pivotal to successfully consider every element. A predetermined plan will be required in order to execute the work. If completed without care and consideration there can be major ramifications. These may be further down the line, however, a cautious approach is always advised.
If foundations are incorrectly formed there is a varying scale of outcomes. These can range from minor issues to very severe consequences. Some of the minor issues can be resolved, however in the most severe case the extension or property may need to be demolished. It is genuinely that serious to get the foundations right.
This guide has been formed in order to offer a well-rounded insight into building foundations. When considering the project plan there are other elements that should be taken into account. These may include load-bearing walls, widths, depths and excavation challenges. Detail will need to be gathered about the land surrounding the planned foundations in order to gauge the best alternatives.
An imperative element of the plan is to ensure that the foundations are built on solid ground. If this is not the case there can be movement and other issues faced which will later cause problems. Plans may sometimes need to be altered slightly as some issues can only be identified once the process has started. Once digging the trenches for the foundations, different problems may need to be solved.
The best available advice is to ensure that your plans are over-cautious. To over-consider all elements of the building process can only lead to better preparation. Solutions can be identified at a faster rate and there is likely to be less surprises. Experience in the trade will also offer assurance as time-served builders will be well-versed in all aspects in relation to foundations.
Did you know there are different variations of foundations? These include simple foundations, engineered foundations, piled foundations and raft foundations. The best variation will be identified prior to the project commencing and will be dictated to by the proposed building project and the surrounding ground.
As the above information suggests, foundations can be complex. Their multi-faceted nature means that they are a challenge to get right. It is always advisable to seek the assistance of a foundation specialist in order to successfully plan your project. Careful consideration, execution and support will lead to an exceptional finish. The foundations may be invisible once the project is complete, but with the above information you will be left with the assurance that you have done your best. Your building project will stand proudly and stand the test of time.
Since 1995, a large number of fulfilled clients of GAURSONS and splendor in all their structural activities have given the group the achievement it deserves. As the years progressed, clients have demonstrated their confidence and support in all the land attempts of the GAURSONS.
GAURSONS India Pvt. Ltd. remains for “The equivalent word of trust in realty”. With various projects like Gaur City, Gaur Cascades, Green Avenue, Gaur Heights, Gaur Ganga, Gaur Homes Elegante, Gaur Grandeur and Gaur Gracious, Gaursons has investigated every possibility in giving the best deals to their purchasers. The organization’s most recent projects “Gaur Mulberry Mansions” and “Gaur Saundaryam” in Noida Extension are synonyms of extravagance living.
Gaur Mulberry mansions, spread over 250 acres of luxury property, is an exclusive luxury mansion in Greater Noida West. The first ever luxurious mansion in the country with more than 2 Acres of land for each mansion is a major luxury goal for sure! Situated in heart of NCR yet being curtailed from the hum-drum of the city Mulberry is a destination of seer luxury and retreat.
The serene ambience and Spanish architecture comes to you with a blend of perfection at Gaur Mulberry mansions. Starting from the royal decor to the exquisite artifacts, everything in Gaur Mulberry Mansion will take your breath away and at the same time the space that you experience would be a sweet memory for a lifetime. At Mulberry, time stops while the rest of the luxury entices you with its luxurious best.
Life past the edge of your mansion is no less welcoming. The tree lined streets are wide, extending around the 90 families in 250 Acres. The parks are delightfully finished enticing each bystander to absorb the perfect environs. The shades of the trees, the scent of blooming verdure and the unadulterated air, all signify make Gaur Mulberry Mansions Greater Noida West, the address of delight.
The recollections of the lovely time you will go through there will remain with you until the end of time. Grill your most loved delicacy or rock at the Disco or watch a motion picture with your friends and family in your lavish individual motion picture theater. Your own universe of extravagance is here at Mulberry. The tinkling chuckling of your friends and family in the show with delicate music streaming all finished will relieve a focused on nerve without a doubt. The smell of good nourishment is conveyed far on the wings of the night breeze. There is exhilaration all around at Mulberry mansion and every one of the extravagances of a top notch inn is ideal here.
The locality chosen for Mulberry is one of the most secured places for a mansion like this. It is just 30 minutes drive away from Delhi in terms of connectivity.
Round the clock security is an assuring factor and not to mention that the whole property is a gated complex. Life is not only extraordinarily luxurious here but secure as well. So, make your next cup of tea, a memory to reminisce at Gaur Mulberry mansion, where luxury is in the air.
Real estate investing can be complicated, at least for beginners. There’s a lot to learn, and the room for mistakes is HUGE, given that the consequences can be enormous in the long run. The real estate market might not seem as volatile as stocks, but the risks are high, and the returns are often not predictable. No matter whether you are buying your first home or want to invest in properties with the intention of selling them later, you need to double check the initial steps. In this post, we are going to talk about 5 tips that matter for right real estate investments.
- Location. Well, this is probably a no-brainer. A property is valued by its location, either at the moment or in the future. Before you check for other things, this is the first aspect that you need to understand. Keep in mind that a particular location can depreciate or appreciate over a period of time, so you need to consider the right factors.
- Seek help. When it comes to real estate investing, seeking help from brokers and agents can be useful. Don’t worry so much about the costs of hiring them, because the benefits and assistance will cover for everything. Agents know the local areas, and they have the right kind of information you would need for a listing. They are also a step ahead in finding buyers and sellers, so if you intend to sell the same property later, they can offer their services, which can ensure a better sale price.
- Don’t spend your savings. Most people plan to use their savings to fund their first purchase, which isn’t the right thing, especially if you have a good credit score. Real estate loans are easy to get, and you can choose to get flexible repayment terms. This can largely help in minimizing the immediate financial burdens. Contrary to what many think, real estate loans are actually handy for long-term financial planning.
- Understand your goals. Let’s say you want to buy a house immediately. Do you want to sell it off within five years? If yes, you wouldn’t want to purchase a property that needs a lot of urgent repairs. In case you plan to keep the house, you would want a home that’s low in price and can be customized for your needs. Understanding and appreciating your financial goals is not only important but extremely vital in the long run.
- Negotiate. The sale price is not always the final price. In most cases, people hire agents and real estate brokers, who negotiate things on their behalf. The price is decided on a lot of factors, and you need to understand these aspects by discussing things with the agent. For example, if the house doesn’t have a well-maintained basement, you can use that as a pointer to reduce the asked price. In short, identify the things that can work in your favor and move ahead accordingly.
Check online now to find more about listed properties and real estate agents in your area.