Real Estate Investment Instruments To Save Income TaxMarch 21, 2017
Real estate industry interests both the buyers and sellers alike. The industry is ever-changing and mostly on a consistent high. The last significant change in the Indian real estate was recorded with the introduction of the Union Budget 2017. However, there are many people in the country who are still unfamiliar with the popular trends of the real estate industry. Realty experts at Arun Dev Builders Ltd bring ten popular terms from the realty sector to help you understand the industry better.
- Demonetization: On the night of November 8, Narendra Modi announced implementation of demonetization, curbing Rs 1,000 and Rs 500 currency notes. The move was aimed at putting an end to the massive use of unaccounted money in the real estate business. The realty sector is expected to encounter the term ‘demonetization’ a lot more in the coming years.
- Affordable Housing: Another initiation by the Modi-led government was to introduce the policy of housing for all by the year 2022. In order to ensure meeting the policy targets, NDA government aimed at affordability. Since the country’s property market experienced a downtime, the term ‘affordability’ started being used very commonly.
- Black Money: The Real estate industry in India became a favorite asset class for whoever wanted to invest their unaccounted money, also referred to as black money. Besides earning the realty sector a foul name, black money is also a reason for the sudden spike of property prices in the past few decades. With the government’s repeated attempts at stopping use of black money in property related investments, the term became popular.
- Benami Transactions: Another attempt at investing unaccounted or black money in real estate is Benami Transactions. The Modi government is in process of announcing another measure to curb the practice. Besides passing a bill for prohibiting the Benami Transactions, some other temporary measures are expected to take place to end proxy transactions too.
- Transparency: Since there never has been any in the real estate sector, the present government is doing everything in its power to introduce transparency in the realty sector. The lack of transparency has not only become a term most often used but also led to a major downfall in the property market.
- Urban Development: India’s estimated calculations are to settle more than 40% of the population in urban setups by 2025. The government is widening the urban landscape in order to make the estimations successful. As a result, a majority of government-introduced policies are focused towards the development of urban infrastructure.
- Smart City: This term defines the pet project led by PM Modi ─ which plans to develop more about 100 cities into smart cities to promote urban growth in the country. Arun Dev Builders Ltd is one of the renowned names engaged in promoting the government’s efforts for making Indian cities world-class.
- Real Estate Act: The nation rejoiced when Modi government passed the key legislation – Real Estate Act, 2016. Though the law is yet to be passed, the general view is that it will bring in a lot of fixtures in the realty sector.
- Housing for All: PM Modi promised housing for all scheme with the Union Budget 2017. The scheme declared to ensure housing for all by the year 2022. Multiple programs have come into being in order to accomplish the said target.
- Swachh Bharat: The term represents PM Modi’s flagship project which was launched in 2014 to attain cleanliness nationwide. Accomplishing the project goals would not only mean completion of the mission but international recognition for India too.
Arun Dev Builders Ltd is a renowned name in the real estate sector which makes it a suitable authority to bring awareness about the industry’s trends like the most often used terms in realty business.