Affordable home sales may go up

Q: Has the real estate experts estimated what percent of affordable home sales will go up?

Sachin bhatt, Bangalore

4th March 2013

Real estate News in Bangalore

union budget

affordable homes

luxury homes in bangalore

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Due to the budget announcement, luxury housing might impact marginally. This is about a provision related to property worth over Rs 1 crore. The rate of abatement on homes and flats of above 2,000 sq ft, or costing Rs 1 crore and above, has been reduced from 75 percent to 70 percent in the Budget. According to a real estate expert, the benefit will motivate property buyers in small cities. It was said that there will be some benefits in selected locations like Noida Extension in the NCR, but there won’t be any benefits in markets such as Mumbai.

vin, Bangalore

6th March 2013

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Home buyers in Bangalore, Pune, Noida, and Tier-II cities such as Nagpur, Jaipur and outskirts of metros where home prices are affordable might stand to gain. For instance, if a person buys a 600 sq ft flat at Rs 4000 per sq ft in Bangalore, he can get the benefit of the Rs 1 lakh additional deduction from income tax.

Niketan Verma, Bangalore

6th March 2013

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According to analysts and consultants, of the total real estate residential supply in India, 15 to 20 percent is affordable segment, luxury accounts for 15 to 20 percent and little more than 50 percent are mid segment residential properties. The sales of affordable housing will go up in Tier II ans Tire III cities. In the National Capital Region (NCR), some parts of Greater Noida and the Yamuna Expressway will see the increase in sales.

Gajendra V, Bangalore

6th March 2013

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What is the total real estate residential supply in India?

Sachin bhatt, Bangalore

5th March 2013

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The industry estimated the sale of affordable homes could increase up to 20 percent this year because of the additional exemption granted to the first time buyers. This benefit is for property which doesn’t exceed Rs 40 lakh.

James, Bangalore

5th March 2013

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