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Houses demand to increase in Delhi Ncr

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Houses demand to increase in Delhi Ncr

Last updated: March 11 2013
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  • Houses demand to increase in Delhi Ncr

    First time home loan borrowers incentive budget Builders from the promulgation of the vacant homes are expected to sell fast. This will increase demand for homes, especially in the category of 30-40 lakh. According to the budget proposal, interest on loans up to Rs 25 lakh, Rs 1 lakh will get extra tax deduction. There are unsold 5,83,513 apartments across the country. Of these, about 39 per cent are less than Rs 35 lakh. According to property research firm Layses Foras, the National Capital Region (NCR) Apartments Unsold 50 per cent fall in the segment. However, 30 per cent of the houses in Mumbai. 42 per cent of the apartments in the country in 2012 were sold in the same category. The buyers had an average loan of Rs 25 lakh.

    Developers say that NCR is beginning to show the impact of the budget proposal. Raj Nagar Extension in Ghaziabad, Noida Extension, Greater Noida and Yamuna Expressway increased interest of the buyers. SG Estates Director Gaurav Gupta said, “Inquire after the budget has been good to us. This will help us to clear unsold stock. ” SG Estates projects in Raj Nagar Extension. Supertech Inquiry chairman RK Arora said that most of the segment, which stand to benefit from the budget.

    Inquire Many developers who meet the budget proposal to explain the advantages are saying. Layses Foras said Pankaj Kapoor, managing director of the first home loan borrowers Proposed deduction of Rs 1 lakh would be in addition to the deduction of Rs 1.5 lakh. He said that Rs 25 lakh to be paid in the first year of the home loan interest will cover around 95 per cent. Current interest rate of 10.5 per cent per annum on the total amount of loan EMI outflow of Rs 25 lakh to Rs 3 lakh. The components of interest will be 2.64 per cent in the first year.

    First, instead of the 1.5 million to 2.5 million interest deduction will cover 95 per cent of the total burden. The first would cover only 57 per cent interest. Sales of homes across the country in the last few quarters has declined. Due to high interest rates and weak consumer sentiment has happened. Property advisory firm Cushman & Wakefield executive managing director (South Asia) Sanjay Dutt said, “This category will generate additional demand. Small developers will have a fantastic opportunity to boost Market Presence. Affordable Home In this category you can create your own branding.
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