Buy Your Dream Home Before the Property Prices Go Up!
Are you afraid of purchasing a home because of expensive property prices? Are you worried that the property prices will go up even more in the next few years? Don’t worry, as we have some good news for you. The Confederation of Real Estate Developers’ Association of India (Credai) announced the price hike since key row material prices hike to 10 -15%, Due to the pandemic real estate sector in Hyderabad is grappling with various problems. the Price hike of steel, cement, copper, PVC pipes, aluminium and fuel price increased project prices.
Buying your own home is a big decision that anyone makes. A lot of money and other resources go into buying a home. Purchasing your own house gives you the right to live a dream of riches, but if you don’t do it in time, unlikely negative consequences will follow. That’s because property prices are rising at every corner. All this while, there were reports of an increase in the price of various raw materials used for constructing homes from various building materials such as cement, aluminium, stainless steel and copper to PVC piping, fuel and electric poles by 15 per cent. The prices went up by about 10 per cent due to the rising price of natural gas.
Credai has requested the government to permit the utilization of 100% FSI for residential projects in IT parks. They said that the govt should give incentives to realty developers for constructing affordable houses and for commercial real estate for developing coworking spaces.
They also suggested that it would be an excellent idea to set up a single-window clearance system at GHMC levels so that developers can get all sanctions easily without any delay.
The government should extend the deadline for tax exemptions under section 80-IB of the Income Tax Act by one more year. It will help developers to complete ongoing projects.
In addition to this, they have asked the government to reduce GST on under-construction projects from 12% to 5%. To boost demand in the housing sector, Credai has also requested developers not to increase the prices of existing projects till March 2021.
Hyderabad has become one of the top cities in India for real estate investment. The city is witnessing a high demand for residential properties and people from all over India are flocking to the city to settle down here.
Hyderabad is witnessing a huge residential and commercial real estate boom, with many companies setting up their operations in the city, which has led to an increase in demand for both residential and commercial spaces.
Due to the pandemic real estate sector in Hyderabad is grappling with various problems. the Price hike of steel, cement, copper, PVC pipes, aluminium and fuel price increased project prices.
There are several factors that influence home buyers to invest in Hyderabad’s real estate market such as:
- High returns on property investments
- Easy availability of bank loans
- Quality education system
- Excellent health care facilities
With the increasing growth in technology and new job opportunities popping up daily, people from all corners of the world are moving to Hyderabad and making it their home. This is a win-win situation for the real estate market of the city as these people are spending their money to buy properties in Hyderabad which goes a long way in boosting the local economy of the city. Ark Real Estate & Infra provides some of the best properties in Hyderabad that are worthy to call a dream home. Visit Ark Real Estate and Infra to know more.