Five ways prospective homebuyers will benefit in new year – the financial express

Despite facing lots of hiccups, 2016 proved to be a landmark year for the nation’s real estate sector which saw the kind of changes and policy reforms not seen over the last many years. In work housing benefit Some of the biggest game-changing policies like GST and RERA are on their way to full implementation. Housing benefit number oldham Although the government’s demonetization drive caused considerable turmoil, but along with the Benami Transactions Act, it promises to bring greater transparency to the sector and is all set to boost its credibility in the long run.

According to PropTiger, 2016 was the year when most fundamental policy decisions were taken to professionalize the industry.

How do i cancel housing benefit Bills such as Real Estate Regulatory Authority Bill, Benami Transactions Act, GST Bill and policy decisions such as demonetization of high currency notes will all work towards cleaning up the sector from the black money mess which it finds itself in. Who gets housing benefit Though in terms of metrics such as new launches and sales, 2016 has been bad for the sector, especially given big hit of demonetization in the last quarter of the year, but the foundation for future growth has been set up.

No need to say that 2017 promises to be an extremely favorable year, particularly for home buyers, on the back of strong reforms implemented in 2016. Savings limit for housing benefit Here we are taking a look at how homebuyers are likely to gain in the new year:

Borrowing rates to taper off: To begin with, borrowing rates are expected to taper off in 2017 given the huge influx of money in banks post demonetization. How to get dss housing benefit In fact, as a New Year gift to consumers, some state-owned banks like SBI and UBI have already announced steep interest rate cuts in several years on January 1, which is likely to be followed by private banks soon. Dwp housing benefit “This can set off a cycle, wherein lower rates of interest will direct borrowers to avail more loans at attractive interest rates. Housing benefit calculator n i In the future, owing to low returns, it will not be feasible to park one’s savings in bonds or fixed deposits. Housing benefit online application form So consumers will prefer to buy property in the future,” says Surendra Hiranandani, CMD, House of Hiranandani.

According to him, a simple back of the hand calculation shows that a 1% reduction in home loan rates will lead to almost 7.5% savings in EMI, thereby putting more money in the hands of consumers. How to make a claim for housing benefit The official economy will see a positive growth in the following months, elevating the purchasing power of the consumer, encouraging the consumers to invest more.

Kaushal Nagpal, co-founder, BookingKAR, says, “2016 was a subdued year for Indian realty and even 2017 looks no different. Private housing benefit Indian real estate market is going through a rough patch and the only respite can come from a sharp decline in interest rates. How much housing benefit do i get RERA would gradually build confidence among buyers. Single parent housing benefit But we strongly feel that post interest rate cut, there would be a substantial demand for residential group housing. Housing benefit eligibility That would actually be a good time for end users to choose from several ready-to-move-in projects, as they will save on the money spent towards service tax.”

Possibility of price cuts: Apart from lower interest rates, there is also the possibility of further price cuts, particularly in case of luxury housing and in the resale market. Housing benefit forms As per a few reports, the prices of luxury houses have already come down by more than 30% in a few circles in Mumbai and Delhi. How much housing benefit can i claim This will remain so for some time, depending on how fast the economy recovers from the demonetization impact. Housing benefit eligibility calculator If the much-promised crackdown on real estate happens this year, we can see further drop in prices. Will i be entitled to housing benefit This will surely benefit homebuyers.

Possibility of excellent deals: Homebuyers may get excellent deals in the market as the industry has just begun to adjust to the new rules. Gov housing benefit This holds true especially for the first quarter of the year as most developers will look to sell existing inventory. Housing benefit dates New launches will get impacted early on. Housing benefit xmas payments So the demand for available inventory and ready-to-move-in homes will increase. Housing benefit income The rise in demand will ensure that prices – particularly in the primary segment — remain firm and start the ascent once again. Housing benefit problems So, it will only benefit those buyers who act swiftly and purchase the property in the interim period.

Increase in transparency & consumer confidence: The year 2016 witnessed some positive and potentially long-lasting changes being introduced in the Indian real estate. Online housing benefit “The passing of RERA (Real Estate Regulation and Development Act 2016), the Benami Transactions Act and then the demonetization move will ensure that going forward, the sector will lose much of its historic taint and become more transparent. When is housing benefit paid These moves will ensure increased transparency, improved investor confidence, better access to funding and higher FDI,” says Atul Banshal, President-Accounts & Finance, M3M India Pvt Ltd.

Thus, once real estate deals become more transparent and consumers start gaining confidence because of various policy initiatives, it will benefit homebuyers as well as they will become more confident of investing in property.

Further boost for affordable housing: Affordable housing will come into sharper focus now than in previous years. Benefit housing website According to a JLL India report, the Modi government’s focus on affordable housing has helped in making the term more acceptable to developers. Housing benefit reduction From the previous fear of being tagged as developers who build affordable homes, the community is now not only entering this segment with confidence but also talking about it openly. Eligibility criteria for housing benefit There is now considerable goodwill attached to such a move, and affordable housing obviously makes eminent business sense.

There has been an overwhelming historic deficit of affordable housing projects. Application for housing benefit Moreover, in the face of slowing sales in the luxury and premium categories, affordable housing can open up a new revenue source for those entering this segment. Housing benefit savings And, more importantly, the Modi government’s decision to provide interest subvention of 3% and 4% for loans of up to Rs 12 lakh and Rs 9 lakh, respectively, under Prime Minister Awas Yojana (PMAY) is expected to further boost low-cost housing. Can i receive housing benefit Thus, as the sector’s focus on affordable housing increases, it will benefit homebuyers also.

While the first three months of this year may test the waters for the real estate sector, as the year progresses the tide will turn in favour of developers as well. Claiming housing benefit and council tax There will be a spurt in demand as buyers will return to the market owing to attractive rates and good deals. Entitled to housing benefit calculator The year will also see the demand shift from secondary market to primary construction owing to erosion of cash-linked sales. Would i be entitled to housing benefit “This will lead to better inventory utilization and ensure launch of new projects in the second half of the year. Housing benefit agency We can also expect significant foreign investments in the sector and increased participation from financial institutions, owing to better transparency and credibility post the policy changes initiated last year,” says Hiranandani.

Ashwani Prakash, executive director, Paramount Group, is of similar views. How much is housing benefit He says, “Unlike previous several years where the realty sector used to get completely ignored, 2016 got pretty much the best out of everything. When to apply for housing benefit From infrastructure to key policy decisions to so much more. Housing benefit rent Although clarity over acquisition of land and a long-pending desire of entitling this sector with the industry status is still pending, 2017 looks like the year where these demands of the sector might be met and few income tax exemptions or incentives for the people might get introduced in the upcoming Budget session. Working and housing benefit This, coupled with reduced interest rates, will allow the realty sector to function fluently and perform even better than 2016.”