Union Budget 2018 Key takeaways for Real Estate
- 1. “Finance Minister Arun Jaitley on Thursday presented his fourth budget. Here is what the finance minister announced in Budget 2018 for Real Estate Sector”
- 2. Affordable Housing Fund Government will establish a dedicated Affordable Housing Fund (AHF) in National Housing Bank, funded from priority sector lending shortfall and fully serviced bonds authorized by the Government of India. www.clicbrics.com
- 3. National Housing Bank National Housing Bank Act is being amended to transfer its equity from the Reserve Bank of India to the Government. Indian Post Offices Act, Provident Fund Act and National Saving Certificate Act are being amalgamated and certain additional people friendly measures are being introduced. www.clicbrics.com
- 4. REITs The Government and market regulators have taken necessary measures for development of monetizing vehicles like Infrastructure Investment Trust (InvIT) and Real Investment Trust (ReITs) in India. The Government would initiate monetizing select CPSE assets using InvITs from next year. www.clicbrics.com
- 5. Circle Rates In order to minimize hardship in real estate transaction, Jaitley proposed that no adjustment shall be made in a case where the circle rate value does not exceed 5% of the consideration. this variation can occur in respect of different properties in the same area because of a variety of factors including shape of the plot and location.
- 6. Smart Cities 99 Cities have been selected with an outlay of Rs 2.04 lakh crore. These cities have started implementing various projects like Smart Command and Control Centre, Smart Roads, Solar Rooftops, Intelligent Transport Systems, Smart Parks. To preserve and revitalize soul of the heritage cities in India, National Heritage City Development and Augmentation Yojana (HRIDAY) has been taken up in a major way. www.clicbrics.com
- 7. Let's Find The House Of Your Dreams Call : 8010820000 Visit : www.clicbrics.com