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Today in India, the real estate sector is witnessing a paradigm shift. The focus has turned more towards affordable homes rather than luxury homes, which has made it possible for the middle and lower income groups to buy their own shelter. In residential properties, the strategic location of the place makes it a hot cake. In making the buying decision, excellent connectivity to all places through road, rail and metro and public service places in the vicinity become dominant.
There are a lot of factors that needs to be considered while looking for a suitable home. These are social, psychological and most important of all financial factors that need to be considered before making a decision. Some people may have more bandwidth to splurge while some may have a tight budget within which they have to negotiate and manage.
With the Indian Government taking proactive steps towards “housing for all”, the dream of owning a home will no longer remain a dream for Indians. It has also been given the infrastructure status which is sure to increase the interest of private builders in affordable projects. Infrastructure status will ensure easier access to institutional credit and help in reducing developers’ cost of borrowing for affordable projects. The reason behind taking this decision is to ensure housing for all by the end of the year 2022.
Further announcements made by the Indian Government are also sure to bring a radical change in this sector. The Government has also made an announcement regarding rented properties on which tax benefits are going to be curtailed, at the same time, the borrower will be allowed deducting the interest paid on the home loan after rental income adjustments are done.
According to the latest laws related to property tax, a property that gets sold within three years of its purchase will see the profit from this transaction as a short-term capital gain. The taxes will apply on the same as per applicable rates.
Many countries have witnessed turbulent real estate markets and the experts believe that it is soon going to take a turn for the better shortly. Well-planned and thought about steps and decisions are surely going to give a boost to this sector. The Government is on the right track and taking decisions to ensure a much-needed boost to this sector.
In addition to this, several reputed builders and developers are encouraging the concept of affordable homes by coming up with budget friendly projects. Amongst a plethora of developers present in the country, one of them who stand out from the league is Wave Infratech. Wave Infratech’s flagship project namely, Wave City is one of the best examples of affordable housing. The group believes in offering state of the art and Located on NH – 24, Ghaziabad; Wave City is truly an ideal destination to cherish a comfortable life. With the concept of affordable housing becoming a hit these days, innumerable people are looking forward to making the most of this opportunity.
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