Affordable housing like health care and education is a huge problem for people with modest means and most people will be looking for some direction from the finance minister to make housing more affordable. Predictably real estate companies have a ready recommendation higher tax deduction for home loans/interest and fewer taxes for developers. While this would help in the smaller towns, the demand supply dynamic in larger cities is such that it would give another reason to builders to jack up properties prices.
The government's role is also limited as housing is a state subject but the finance minister can give some direction. People feel that a regulator would be monitor the affordable housing agenda, promote real estate reforms and ensure transparency especially by mandating steps such as flats being sold only on carpet area.
The Chairman and Managing director of greater Bangalore real estate is also pitching for a body like a real estate regulatory authority that could regulate the real estate sector in wake of recent corporate governance issues. He expects that the housing sector would be a priority to be provided interest rates relief through banks given the speculation and out stretched prices that have dented sector sentiments this fiscal.Developers who are coming up with affordable housing should be given tax breaks, also he says.
But the prices are high because of the supply demand mismatch. Big builders who have concerned most of the land in big cities like Bangalore and Chennai are literally hoarding land which they are keeping for super premium segment. In Bangalore for instance, the state government and bodies like the MMRDA are sitting on huge tracts of land and if the finance minister can make both these entities to disgorge this land, the prices of property will surely fall.
For more details visit us please do visit us East Bangalore Real Estate.
Yusuf Abdulla is a best seo consultant from Chennai in India. Currently handling five dedicated resources. Expert in both on page SEO and off page SEO. Experienced in Social media optimization. For more details please do visit SEO Chennai.
The government's role is also limited as housing is a state subject but the finance minister can give some direction. People feel that a regulator would be monitor the affordable housing agenda, promote real estate reforms and ensure transparency especially by mandating steps such as flats being sold only on carpet area.
The Chairman and Managing director of greater Bangalore real estate is also pitching for a body like a real estate regulatory authority that could regulate the real estate sector in wake of recent corporate governance issues. He expects that the housing sector would be a priority to be provided interest rates relief through banks given the speculation and out stretched prices that have dented sector sentiments this fiscal.Developers who are coming up with affordable housing should be given tax breaks, also he says.
But the prices are high because of the supply demand mismatch. Big builders who have concerned most of the land in big cities like Bangalore and Chennai are literally hoarding land which they are keeping for super premium segment. In Bangalore for instance, the state government and bodies like the MMRDA are sitting on huge tracts of land and if the finance minister can make both these entities to disgorge this land, the prices of property will surely fall.
For more details visit us please do visit us East Bangalore Real Estate.
Yusuf Abdulla is a best seo consultant from Chennai in India. Currently handling five dedicated resources. Expert in both on page SEO and off page SEO. Experienced in Social media optimization. For more details please do visit SEO Chennai.