Realty Updates

Key Real Estate Expectations: Union Budget 2019-20

Real Estate industry of India, which is reeling under the pressure of financially crisis and slump in home buyer’s confidence, is expecting the union budget 2019, to be presented on 5th July 2019, to give much drive to the slow moving sector.

In its last union budget of the 1st term, the ministry had provided some inducement to address the stress on both demand as well as supply side. But the real estate industry expected a lot more is needed to take the sector out of the clutched to the slump it has been in the last few years. So here are few of the key expectations of the industry from the upcoming (Presented on 5th July 2019) union budget

Some Important Expectations of the Industry are:

  • No cap for residential property: the limit set-out for loss from residential property of 2 Lacs* should be closed at least for rented housing property
  • Reinstall ITC (Input Tax Credit) and extending it to the commercial segment against Good Service Tax (GST) payable on rent of few projects or any other rental property
  • Affordable Housing Scheme: Further extension should be given for availing benefits falling under sector 80 IBA
  • Elimination of TAX on the unsold inventory
  • Elimination of Good Service Tax (GST) pay by the landowner in a JDAs (Joint Development Agreement)
  • Framing a National Rental Housing Policy in order to meet the target of Housing for all Indians

Overall, these measures would expectation, accelerate the pace of ongoing consolidation in the real estate sector and ultimately benefit the organised and compliant real estate developers.

July 1, 2019 / by / in ,
Builders turn to IoT, Artificial Intelligence to woo home buyers

Internet of Things (IoT) and AI (Artificial Intelligence) are no longer just axioms even for real estate developers as they are increasingly deploying these in addition to home automation in a bid to catch fancy of buyers.

Developers are warming up to the idea of incorporating home automation products to their offering, a late addition to the standard amenities list so far. Given the cost factor, developers had earlier refrained from deploying these products.

“Real estate today is no longer confined to a brick-and-mortar structure with developers constantly looking for ways to offer value to customers. It has evolved into creating a healthy environment for people to live, work and play, thereby improving the health and quality of life of households around the world”.

However, with huge reduction in technology and deployment costs, more developers are opting for such products. Platforms that use cloud-based algorithms and sensor technologies monitoring indoor environment and alerting residents for corrective actions are also being deployed to bring wellness intelligence into the connected home environment.

Wifi-based home automation products like video door panels, motion sensor-based light and security management products and appliance control products that remote manage ACs, TVs geysers and other appliances that are app-controlled are becoming a part of new developments.

October 8, 2018 / by / in , , , ,