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Property prices increasing after June 2009!!!!

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Property prices increasing after June 2009!!!!

Last updated: August 25 2009
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  • #51

    #51

    Re : Property prices increasing after June 2009!!!!

    Originally posted by deepakpat
    • Even for those who have already taken home loan
      • If it is not their self occupied property, then now they can sell it off if required and earn min 8.5% in PPF, instead of getting 2-3% as rental income. Why it will damage their sentiments?
      • Or they can still hold their property if they think property rates will sky rocket again soon ()
    Point 1:- Selling off the property will invite a capital gains tax of 20-30% based on the year of occupation/holding of the property. This is a deterrent for many & in current times, not many can pay in B-money & the agreement needs to have the rates according to ready reckoner rates. Hence, selling off property is not that simple nowadays.

    Point 2:- Selling when price rise? This means that first the prices have to reach bottom & then rise to current levels & later to higher than current levels. If a person has purchased in 2004-05. good for him, but if one has purchased in 2006-08, one has to wait for atleast next min 8-10 years. Add to it the erosion of the value of the property due to age & depreciation.
    If you are happy, you are successful.

    Comment

    • #52

      #52

      Re : Property prices increasing after June 2009!!!!

      Originally posted by Ramakant2k View Post
      Unless salaries of it people increase, rates of houses wont increase.
      This article clears some facts...
      http://www.indianexpress.com/news/un...hikes/502346/0

      Comment

      • #53

        #53

        Re : Property prices increasing after June 2009!!!!

        What FM is doing to put tax on this people --
        1. Earns 50K-1L as a rent per mon
        2. A farmer who drive a Merc/BMW
        3. A autowalla who earns 20K per mon
        Many more ...
        Either land or AIR and FOOD. Choice is yours.

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        • #54

          #54

          Re : Property prices increasing after June 2009!!!!

          and the real irony is that salaried class ideally does not come under income tax ethics... income tax is charged not on the money you make but on the profits you make... companies dont pay taxes on turnover, but only on profits...

          similarly, salaried class is giving their service for the charges. there is no profit happening to him. i believe there was a case in high court challenging salaries class from taxing but since we are soft targets, no government can consider this rational thought...

          Comment

          • #55

            #55

            Re : Property prices increasing after June 2009!!!!

            Mind set

            Hi mandarg,

            Basic tax is on INCOME.

            So profits come under ur income, but not ur labor to Govt.
            But the proposed code at 25% corporate tax on Value if i m right.
            Also, Govt is doing away with most complicated sections and directly giving monies to salaried people, so distortions will reduce.

            Its a Big NO NO for RE, but good for mid + low income housing.
            Its NO NO for investors, but actually good for buyers.

            Comment

            • #56

              #56

              Re : Property prices increasing after June 2009!!!!

              A Scandinavian country (forgot the name, but I think it is Norway) pays 65% as income tax, but people don't complain coz the Govt. provides immaculate facilities for the citizens.

              My cousin (works for SAAB) had been to Sweden & along with his colleagues went to a restaurant, few people came & sat on adjoining table. He asked what they said (translated) & came to know that they were discussing the type of serials which should be shown on TV which benefits the people!! These senior Govt. officials were discussing about TV serials! Coz, there is nothing to do now:- Good education, healthcare, infra, even the country is protected under NATO, so no defense expendtiure, the country has 1 car per 3 person, (the soldiers keep uniform at home & go to any regular office as usual).

              So, even Indians will pay taxes, if it is utilised for the people & not for filing up the coffins of white khadi clad netas.
              If you are happy, you are successful.

              Comment

              • #57

                #57

                Re : Property prices increasing after June 2009!!!!

                Transparency

                Thats called state sponsered welfare programs.

                We will reach in our Kaal.


                But v r goin in rite direction. Greater computerisation, e Initiative, RTI will slowly lead us there.

                Comment

                • #58

                  #58

                  Re : Property prices increasing after June 2009!!!!

                  Premium flats come with a cost

                  Guys,

                  If you're looking for premium flat, you have to pay cost.

                  Dont go for under-construction..!

                  Regards,
                  SK

                  Comment

                  • #59

                    #59

                    Re : Property prices increasing after June 2009!!!!

                    Sahil,

                    Pay Cost is fine.
                    We are more worried about what should be the cost?

                    Should Cost = Building Cost + Huge Margin
                    OR should Cost = Building Cost + Avg Margin

                    VK

                    Comment

                    • #60

                      #60

                      Re : Property prices increasing after June 2009!!!!

                      The cost ALWAYS IS -
                      Should Cost = Building Cost + Whatever buyer is ready to pay.

                      Understand this - Builder is strictly doing biz and biz is done for profit not for charity.
                      If we ask for double the salary we are getting now and some company is willing to pay it, we will take that job, isn't it?

                      When people stop buying, builders will stop raising prices!

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