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Budget has nothing for RE

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Budget has nothing for RE

Last updated: July 7 2009
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  • Budget has nothing for RE

    Budget has nothing for RE which can stimulate any buying.

    Does this mean very less buyers for RE from IT sector, the usual suspects/victims targeted by builders?
  • #2

    #2

    Re : Budget has nothing for RE

    Interesting facts

    Hi ,

    I think the RE sector is over due for correction . Now that there is nothing in budget the prices need to come down .

    I have been a resident of Pune but was in other parts of India for past few years .Have seen that RE sector in Pune has gone up like anything . Eg Flats which were avlbl 1800 psf in 2004 begining in areas like Ideal Colony and Mayur Colony now quote at 8000 psf .This is absurd, do not think the rates for RE in Pune have increased so much ever in last 50/100 years. An auto charges 500/- for coming from Aundh to Pimpri . Whereas a Mumbai Pune trip by Volvo wud cost Rs 275/- only .
    Sorry to say this but it is we who spoiled everyone and now why are we cursing the smart builders who have mushroomed in every nook and corner to take us for Joy ride.

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    • #3

      #3

      Re : Budget has nothing for RE

      comfort zone baner

      has naybody booked in comfort zone baner recently.
      just want to know the rate/sq ft.

      Originally posted by shekhar7
      It was widely speculated that,
      Budget will have some perks for Realty ..as well as for IT..
      but Mr. FM, has given a kick in back for both..
      does that mean, all hoopla related to price goin up in Realty will be over??

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      • #4

        #4

        Re : Budget has nothing for RE

        No mention of the increase in benefit from home loan from 1.5 to 2--2.5 lacs either.

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        • #5

          #5

          Re : Budget has nothing for RE

          Originally posted by skkoul View Post
          has naybody booked in comfort zone baner recently.
          just want to know the rate/sq ft.
          Nego rate here is INR 2600/sq ft. Builder & project is problematic. Best to avoid it.
          Last edited by realacres; July 6 2009, 04:59 PM.
          If you are happy, you are successful.

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          • #6

            #6

            Re : Budget has nothing for RE

            Thank you Mr. FM.

            Thank you Mr. FM for kicking the RE chaps. Good. Now RE builders will be forced to cut rates drastically. Even market if you see today is negative. RE is -5.5% & banking -7.3%.
            If you are happy, you are successful.

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            • #7

              #7

              Re : Budget has nothing for RE

              I don't agree fully. Since the tax exemption limit has been increased and also the surcharge has been canceled, the salaried class is going to have more disposable income. Looking at the mindset of salaried people, most of them will route this extra money to RE investments thus creating more demand.

              Just my 2 cents ..

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              • #8

                #8

                Re : Budget has nothing for RE

                Originally posted by CoolDude View Post
                I don't agree fully. Since the tax exemption limit has been increased and also the surcharge has been canceled, the salaried class is going to have more disposable income. Looking at the mindset of salaried people, most of them will route this extra money to RE investments thus creating more demand.

                Just my 2 cents ..
                Well, tax exemption limit is increased by just 10K which is negligible.
                And for surcharge, it is for those whose taxable salary is >10L. Well many ppl at this level(who has taxable salary >10L) has already bought flats in boom time, and if not they have also realized that investment in RE is not profitable now. Well still for some cases, it will have effect on their buying decisions but not widespread. my thoughts.

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                • #9

                  #9

                  Re : Budget has nothing for RE

                  Originally posted by realacres View Post
                  Thank you Mr. FM for kicking the RE chaps. Good. Now RE builders will be forced to cut rates drastically. Even market if you see today is negative. RE is -5.5% & banking -7.3%.
                  Totally agree that there is nothing like increase in Tax exemption limit for home loan which will motivate buyers. Definately demand will descrese which may help in further descrese in rates. But there is nothing for It or other industry so even thouh rates will descrese desicion to buy house will be a tough one.

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                  • #10

                    #10

                    Re : Budget has nothing for RE

                    RE

                    The initial print is out. The verdict is also out.

                    There is nothing here man. There is only for 1000 villages out of 45000 with Dalit population greater than 50 % who are getting some housing boost ( PM adarsh gram yojana). Nothing in I-tax, relief to bldrs, no infra boost, no disinvestment, Fiscal dificit 6.9%, Nothing for FDI. More money avenue for farmers i.e cheap loans but these will be at the bottom of the consumers pyramid, so how will it revive industry???

                    The RE sentiments r going to be hit, real buyers can now start to c rationally priced houses.

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