Budget 2014: CommonFloor Survey Result Summary

The country has huge expectations from the upcoming Union budget. The real estate sector too has huge hopes pinned on the budget as it is expected to bring about significant changes that will boost the erstwhile dull sector. In the wake of this, CommonFloor recently conducted a survey to understand the hopes and expectations of the realty sector as well as property buyers across India from the upcoming Union budget. The survey also focused on various points of affordable housing, the government’s key agenda points and smart cities.

“As part of ‘Real Insights’ into real estate, CommonFloor.com has come up with a detailed survey report on Budget 2014 – with in-depth analysis based on CommonFloor data.

For detailed report”

The survey came up with interesting results from both buyers as well as realtors. The survey result indicates that property buyers have a few key expectations such as reduction in home loan rates and several other taxes such as stamp duty and service taxes are top on the chart. Other expectations include providing tax incentives for first time home buyers and buyers of affordable homes. Another key expectation is the removal of service tax for under-construction properties.

Interestingly, the survey result shows that the realty sector has placed huge emphasis on affordable housing, infrastructure development and single window clearance for real estate projects. Other key expectations include providing an industry status for the sector and encouragement for green homes via regulatory control.

One of the main agendas of the Modi government is to create 100 new smart cities. Respondents gave a list of the cities that could be expected to be developed as smart cities. These include most tier-I cities as well as several tier-II and tier-III cities.