Government to introduce New Norms and Policies

Today, both property purchasers and builders would be having great expectation about financial news. Reforms like decreased interest rates and income tax benefits give a major impact. IT exemption limits be a major issue always for individuals who fall in the category of middle income group.As per the expert’s, reducing interest rates would result in high demand for housing units since most of the purchases are done through loan, said in the online page of reviews about Amarprakash builders. Further, common people have asked the government to increase the exemption limit upto Rs.3 lacs from Rs.1.5 lakh in order to bring more savings and boost purchasing power.

In the property market, increase value of capital amount has always stood as a matter of factor. So, reduction in interest rate would come as a good deal. Further, the purchasers and builders want the government to remove certain charges like service tax, stamp duty, local government fees, registration charges and other charges.The major issue what the builder faces is the rise in land cost and shortage of quality land parcels, stated in reviews about Amarprakash builders. This ends up the promoters to launch their housing projects in suburban location. Offering inducements to redevelopment projects by allowing higher FSI is required. However, land cost will remain higher when FSI value alone increases without reduction in land cost.

Experts say that “The government have to bring in a regulatory mechanism and should simply the process for building approvals.” It is important to create an online single window approval system in order to benefit the builders who can get approval for their residential projects, subject to certain rules. The removal of EIA (Environmental Impact Assessment) for housing projects will increase, except in environment sensitive locations. Further, they also put on certain factors like revenue records, coastal regulation zones, registration procedures, need for digitization of maps and airport restriction. As of general reviews about Amarprakash builders, the manufacturing zones require restoration. This will offer space for attaining right property for the facility of manufacturing and industrial companies and create more opportunities for the individuals and disposal income will increase.

Over a long time, the real estate segment has stayed on the wish list of people. This brings more and more foreign investors and helped the promoters to complete the project immediately. Also, it reduces the project cost considerably and benefits the property owners. The industry market requires better clarity on real estate investment trust (REITs). Until the civic body brings in changes, REITs can’t become effective which won’t overcome tax issues. The investors get upset over long term capital value when REITs units are not changes for more than a period of 36 months. So, the government should address the budget properly and should process it quickly. Building quality will get improved along with cost reduction and increase the jobs once educational institutions and other institutions are set up.

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