What real estate buyers should expect from Budget 2015?
TOP VIDEOS FOR YOUMake home loans affordable
The Union Budget 2015-16 should make the rate of interest specific to home loans more reasonable. Currently, banks are offering
The budget should also do away with the multiple taxes involved in the purchase of residential property. As of now, home purchasers are required to pay
Reduce cost of property registration
Another expectation from the Union Budget is a reduction in the cost of property registration. The recent hike in ready reckoner rates in Maharashtra has been a sentiment setback for the real estate sector. Stamp duty and registration costs are as high as 6% in most cases, and this needs to be reduced by a few base points to aid consumers. Alternatively, a slab-based approach should be introduced. Stamp duty falls under state government purview, but the Center can nevertheless issue a directive to reduce stamp duty costs.
( About the author: Kishor Pate is the
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