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What Effects Will the Budget Have on Real Estate?

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What Effects Will the Budget Have on Real Estate?

Last updated: March 16 2012
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  • What Effects Will the Budget Have on Real Estate?

    Union Budget 2012-13
    What effects will the budget have on RE? specially GGN which is ballistic these days?
    Service tax raised from 10 to 12%. Any impact on RE service tax?
  • #2

    #2

    Re : What Effects Will the Budget Have on Real Estate?

    arey suno mukherji ji ne to le li hamari.

    so much expectation we were having before budget.but now all shattered

    Comment

    • #3

      #3

      Re : What Effects Will the Budget Have on Real Estate?

      Now shell out 1 lakh more tax on 50 lakh payment

      Comment

      • #4

        #4

        Re : What Effects Will the Budget Have on Real Estate?

        No mister you are wrong.

        if cost of flat is Rs 50 lac,the only 25%i.e. Rs 12.50 lac will be value of service and tax will be Rs 12.50*10% i.e 1.25 lac

        now due to 2 % increase you have to shell out 12.50*2% i.e Rs 25000 more. not Rs 1 lac.

        Comment

        • #5

          #5

          Re : What Effects Will the Budget Have on Real Estate?

          Are bhai 25000 bhi chhoti amount nahi hain...
          Pranavda must be singing his cabin...Chutiya Banaya Bada Maza aya....

          Originally posted by powerhonda View Post
          No mister you are wrong.

          if cost of flat is Rs 50 lac,the only 25%i.e. Rs 12.50 lac will be value of service and tax will be Rs 12.50*10% i.e 1.25 lac

          now due to 2 % increase you have to shell out 12.50*2% i.e Rs 25000 more. not Rs 1 lac.

          Comment

          • #6

            #6

            Re : What Effects Will the Budget Have on Real Estate?

            Originally posted by powerhonda View Post
            No mister you are wrong.

            if cost of flat is Rs 50 lac,the only 25%i.e. Rs 12.50 lac will be value of service and tax will be Rs 12.50*10% i.e 1.25 lac

            now due to 2 % increase you have to shell out 12.50*2% i.e Rs 25000 more. not Rs 1 lac.

            that's correct, actually service tax worked out to be 2.57% of full value earlier and now it will be 3.12%.

            For Property of 1 Cr you had to pay tax of 2.57 Lac and now you have to pay tax of 3.12 Lac i.e, an increase of 0.55 Lac.

            Comment

            • #7

              #7

              Re : What Effects Will the Budget Have on Real Estate?

              Originally posted by Indireal View Post
              that's correct, actually service tax worked out to be 2.57% of full value earlier and now it will be 3.12%.

              For Property of 1 Cr you had to pay tax of 2.57 Lac and now you have to pay tax of 3.12 Lac i.e, an increase of 0.55 Lac.

              And this is too bad, it is like an increase of Rs 55 psf price for a 1000 Sqft area flat.

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              • #8

                #8

                Re : What Effects Will the Budget Have on Real Estate?

                Great thread.....any clue how effected will the RE market by below declaration:

                The Capital Gains Tax will not be applicable for people who use the amount generated from the sale of their houses as an equity investment in small and medium businesses.

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                • #9

                  #9

                  Re : What Effects Will the Budget Have on Real Estate?

                  Originally posted by powerhonda View Post
                  No mister you are wrong.

                  if cost of flat is Rs 50 lac,the only 25%i.e. Rs 12.50 lac will be value of service and tax will be Rs 12.50*10% i.e 1.25 lac

                  now due to 2 % increase you have to shell out 12.50*2% i.e Rs 25000 more. not Rs 1 lac.
                  But on PLC there is no discount

                  Comment

                  • #10

                    #10

                    Re : What Effects Will the Budget Have on Real Estate?

                    Anyway it is going to have bad impact on real estate

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