123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> General >> View Article

Apartments In Bhubaneswar

By Author: Kedar Mallick
Total Articles: 2

The real estate market in India is currently in the middle of fairly challenging times. In the last few years, there have been a few noticeable macro shifts that have challenged the realty sector.

The demonetization exercise in November 2016 put brakes on the growth of the real estate market as it made the rampant use of cash in real estate transactions more difficult to track. The Real Estate Regulation Act (RERA) that was passed by the Centre in 2016 and most states in 2017 put a lot of onus on builders which further halted new offerings in the residential space. Several Apartments in Bhubaneswar are in stand still after demonetization

In addition, the demand-supply gap has been an issue with most of the key real estate markets such as Mumbai, Bengaluru, and Bhubaneswar facing a serious oversupply of flats in Bhubaneswar. However, the big funding challenge came in 2018 after the IL&FS fiasco.

Prior to GST implementation, there was a service tax of 4.5% that was payable in case of under-construction property. Post GST, that rate has gone up sharply to 12% making it almost unattractive to buyers. While the benefit of the input tax credit (ITC) is available on this 12%, it practically does not amount to anything. Property buyers were already paying registration charges and stamp duty on properties. With the addition of 12% GST, the total statutory cost has gone up by 20% of the cost of property for the buyer.

Outlook for apartments in Bhubaneswar, can be revived with government intervention.

Broadly, oversupply in the mid and premium segments may still take years to narrow. However, the big areas of growth in realty could come from low-cost housing, smart cities, and commercial realty. Let us look at some interesting future trends for realty in India.

There are some positive developments in low-cost housing and apartments in Bhubaneswar, Mumbai and other regions which have launched nearly 1,04,000 units with an investment of Rs15,576cr, while Gujarat and the NCR region will put up another 70,000 units with a similar investment.

Under the Smart Cities program, a total of 100 cities will see the program positively impacting the lives of nearly 9.95cr dwellers with high-quality core infrastructure and a more sustainable quality of life.

Total Views: 232Word Count: 371See All articles From Author

General Articles

1. 5 Benefits Of Buying Indian Bridal Hair Accessories From Online Shopping Website
Author: One Mela

2. Got Great App? Make It Visible To The World With Marketing Experts…
Author: zainexx

3. Best Bridesmaid Gifts For A Rustic Wedding
Author: Ben Alford

4. China Animal Silage Fodder Cutter Crop Straw Crusher
Author: yang huimin

5. Seeking Sweet And Simply Southern Style? Find It And So Much More At Girls ‘round Here
Author: Ben Alford

6. Know What Problems Can Be Fixed Using Astrology By Our Top Astrologer In Brooklyn
Author: ssrastrologer

7. Are You Looking For A Letting In Edinburgh?
Author: Andrew whitmey

8. Characteristics Of Numerical Control Special Machining Technology
Author: Madhavachar Rangnekadr

9. Waking The Dead Anger Management
Author: free

10. Global Telecommunication Market
Author: jayashree

11. How To Do Keyword Research For Seo And It’s Benefits.
Author: Ananth parsad

12. Show Your Creativeness With Bespoke Leather Jackets!
Author: Akash Sharma

13. Make Your Day More Fashionable With The Varieties Of Hippie Clothing For Women
Author: Anika Jonas

14. Attractive Opportunities In The Hydrogen Generation Market During The Forecast Period 2018-2023
Author: MarketsandMarkets™ INC.

15. How Good Is Your Water Treated- Find Sure Results With Water Softeners Nz
Author: Rabin Ryan

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: