The largest recipient of donations was the Bharatiya Janata Party, which received over Rs 314 crore; the India National Congress received about Rs 98 crore. More than Rs 90 crore went to BRS, while TMC took home Rs 41 crore.
According to data released by the Election Commission and compiled by the State Bank of India, the top 25 real estate developers have donated more than Rs 630 crore to political parties in the form of electoral bonds, with the Bharatiya Janata Party (BJP) receiving the largest share of Rs 314 crore.
The All India Trinamool Congress (TMC) received Rs 41 crore, the Congress received approximately Rs 98 crore, the Shiv Sena received approximately Rs 87 crore, and Bharat Rashtra Samithi (BRS) received over Rs 90 crore.
With donations from subsidiaries like DLF Commercial Developers Ltd, DLF Luxury Homes Ltd, and DLF Garden City Indore Pvt Ltd, DLF became the largest real estate developer donor to the BJP, giving a total of Rs 180 crore between 2019 and 2023.
In October 2019 and April-July 2023, respectively, Prestige Group and its subsidiaries gave more than Rs 45 crore to the Bharat Rashtra Samithi, the Indian National Congress, and the Bhartiya Janata Party.
Other noteworthy donors include K Raheja Corp Private Ltd, based in Mumbai, which gave the BJP, Shiv Sena, and Bharat Rashtra Samithi a total of Rs 21 crore in April 2019 and October 2021.
In October 2021 and January 2022, Anbee Constructions LLP, connected to Mindspace Business Parks Real Estate Investment Trust, gave over Rs 10 crore to the All India Congress Committee and Bharat Rashtra Samithi.
January-July 2022 and January-November 2023 saw gifts of over Rs 22 crore from commercial real estate developers such as LuLu India and Inorbit Malls to political parties like the BJP, Indian National Congress, and Bharat Rashtra Samithi.
According to data provided by the State Bank of India (SBI) to the Election Commission of India on March 14, the Bharatiya Janata Party was by far the largest beneficiary of the electoral bonds scheme, receiving Rs 6,061 crore in political donations over the last five years.
It represents 48% of all electoral bonds that political parties have cashed since the beginning of 2019-20 before its being declared unconstitutional by the Supreme Court earlier this year.
With Rs 1,610 crore, the Trinamool Congress comes in second, and the Indian National Congress comes in third with Rs 1,422 crore.
Mumbai’s luxury real estate is seeing an annual price increase of 10%, primarily due to wealthy buyers seeking to upgrade their lifestyle.
According to Knight Frank’s Prime Global Cities Index, the average annual price of luxury homes increased in Q4 2023 in Mumbai (10%), Delhi-NCR (4.2%), and Bengaluru (2.2%). New Delhi also saw an increase in luxury home prices.
Mumbai moved up the ranking table five spots to third place from its eighth position in Q4 2022, with the third-highest year-over-year (YoY) growth in prime residential prices in Q4 2023. NCR saw a 4.2% YoY increase, rising from 28th place in Q4 2022 to 16th in Q4 2023. Bengaluru, however, saw a drop in rankings, going from 20th in Q4 2022 to 27th in Q4 2023, despite the city recording a 2.2% YoY increase in residential prices.
Manila took first place in the Knight Frank Prime Global Cities Index Q4 2023, with an annual price increase of 26.3%. The success of the capital city is due to robust inward and outbound investments. Mumbai is ranked third with 10% YoY growth, and Dubai is ranked second with 15.1% YoY growth in the index.
A valuation-based index that tracks changes in prime residential prices in 45 cities across the globe is called the Prime Global Cities Index. In local currency, the index tracks nominal prices.
Throughout the 45 markets, the increase in the global prime residential price index was 3.7% in the year that ended in December 2023. With 82% of cities experiencing annual growth, this is the highest growth rate since Q3 2022.
“The significant increase in prime prices is a direct result of the spike in demand for this residential market in India’s markets. According to Shishir Baijal, Chairman and Managing Director of Knight Frank India, “This segment should likely see price levels continue to elevate in the near term as homebuyers prioritize lifestyle upgrades more and more, bolstered by the nation’s stable economic outlook and positive market sentiment.”
According to Liam Bailey, Global Head of Research at Knight Frank, “Sales volumes have decreased by 10% to 20% in most markets over the last 12 months due to the interest rate tightening cycle.”
As rates increased in 2022, prices began to fall, but as supply became more scarce, prices gradually increased. Rate reductions in the second half of 2024 will give the market even more traction.”
Are you trying to find a project in Gurgaon where convenience and luxury coexist? Visit the brand-new housing community, Smart World Edition, in Sector 66, Gurgaon. Here, you can enjoy quick access to Golf Course Extension Road and rejuvenate your living space with a private jacuzzi deck. Continue reading to learn about the costs, project overview, and payment schedule for Smart World The Edition.
Due to the many benefits of Sector 66’s location, property values there have increased dramatically over the last few years. This sector benefits from excellent connectivity and convenient access to social and retail amenities due to its proximity to Golf Course Extension Road. The demand for real estate in the sector has been rising over the past few years due to several infrastructure developments.
In Sector 66, Gurgaon, several well-known developers have launched residential projects after considering these variables. Smart World Developer’s Edition is one of the most recent additions to the list. By February 2031, the work should have concluded. See the sections below for important project details, including cost, features, floor plan, and neighborhood highlights.
The Edition of Smart World: Project Synopsis
With 956 apartments total, Smart World The Edition is a luxury housing community located in Sector 66 Gurgaon. It sits on an 11-acre plot of land. Three twin towers, each with 42 floors, comprise the society. Starting at Rs 5 crore, the project offers 3 BHK and 4 BHK apartment options. The registration number of the RERA-registered housing society Smart World Edition is GGM/756/488/2023/100.
You can examine the features that make Smart World Edition a desirable choice for end users below.
USPs of Smart World The Edition
Lobby with high ceilings, marble flooring, and chandeliers.
Personal jacuzzi Terrace
Rooftop infinity pool
A club with amenities like a movie lounge and a celebration hall.
Two master suites in luxurious homes
Floor plans and prices for The Smart World Edition
A three-bedroom apartment in Smart World The Edition starts at about Rs 5 crore. On the other hand, the 4 BHK options come with a starting price of Rs 6 crore. These apartments have carpet areas that range from 1600 to 1900 square feet.
Smart World The Edition’s price details
Setups
Highly Congested Area
Beginning Cost
3 BHK
2945 sq ft
Rs 5.74 crore
3 BHK
3005 sq ft
Rs 5.85 crore
3 BHK
3035 sq ft
Rs 5.91 crore
4 BHK
3505 sq ft
Rs 6.83 crore
4 BHK
3660 sq ft
Rs 7.13 crore
The Amenities Edition of Smart World
The movie lounge, rooftop infinity pool, beach park, and business lounge are vital features that elevate Smart World The Edition’s premium character. In addition, the table below allows you to view additional project amenities:
The Edition of Amenities in Smart World
Interior Features
Exterior Features
Squash Court
Tennis Court
Celebration Hall
Jogging Track
Badminton Court
Basketball Court
Sports Bar
Skate Park
Party Hall
Outdoor Gym
Indoor Gym
Yoga Poda
Private Theatre
Kids Play Area
Although Smart World The Edition is a residential project with many must-see amenities, let us
investigate its location. Examining the property in detail will give potential buyers the assurance they need to make a wise choice.
Gurgaon’s Sector 66: Local Highlights
Gurgaon’s Sector 66, located along Golf Course Extension Road, is one of the well-connected sectors. Within a six-kilometer radius, business hubs like JMD Megapolis, AIPL Joy Central, M3M Cosmopolitan, and Vipul Trade Center are easily accessible from this location. Therefore, proximity to corporate hubs makes it a preferred end-user hub. The following represents
the distance between Smart World The Edition in Sector 66, Gurgaon, and important Gurgaon connectivity spots:
Two important routes that provide easy access to Sector 66, Gurgaon, are Sohna-Gurgaon Road and Southern Peripheral Road.
Just eight kilometers away from NH-48, which provides drivers heading to Delhi with a satisfying commute.
The distance to Indira Gandhi International Airport via NH-48 is roughly 25 km.
Gurgaon Railway Station, roughly 12 km away and located on the Delhi-Jaipur Line, is the closest train station to Sector 66, Gurgaon
Gurgaon’s Sector 66: Social facilities
The advantage of Sector 66, Gurgaon, is its strategic proximity to Golf Course Extension Road, which facilitates residents’ easy access to social amenities. The schools, medical facilities, and retail establishments close to Smart World The Edition in Sector 66 Gurgaon are as follows:
Around Smart World The Edition, social amenities
Schooling, (within 2-3 km)
Hospitals, (2-6 km away)
Mall, (2-5 km away)
The DPS International Edge School
Ekta Hospital
Omaxe Celebration Mall
Alpine Convent School
Park Medical Center
City Center Omaxe
Bharti Shiksha Public School
CK Birla Hospital
Sapphire Mall
Ashoka International School
Motherhood Hospital
WorldMark Gurgaon
VIBGYOR High School
Marengo Asia Hospital
Airia Mall
Gurgaon’s Sector 66: Price Trends
Sector 66 is one of Gurgaon’s most prestigious residential neighborhoods; it starts with 3 BHK apartments and progresses to standalone houses or villas. In Sector 66, Gurgaon, the average cost of a property is Rs 14,750 per square foot. While 3 BHK apartments are the most popular unit type in the area, 4 BHK apartments are also in good supply. The average growth in sector property rates over the previous five years appears in the following table:
Property Appreciation in Gurgaon’s Sector 66
Present Value
The last year’s
Past three years
Past five years
Rs 14,750 per sq ft
32%
68%
69%
Gurgaon’s Sector 66: Potential for Investment
As a result of the planned infrastructure upgrades, Sector 66 in Gurgaon is one of the most well-liked areas for investments. These initiatives would significantly raise property values and improve the sector’s liveability index. Some other developments that are either planned or currently under construction are as follows:
A 2 km distance would connect Sector-66 Gurgaon to the Rapid Metro Line’s Vatika Chowk Station.
Plans to rehabilitate the Southern Peripheral Road with flyovers to reduce traffic and facilitate travel to Sector-66 Gurgaon.
Reduce travel time to Faridabad by being close to Vatika Chowk Station on the future Gurgaon-Faridabad Metro Line
It is reasonable to assume that the real estate price trend in Sector 66, Gurgaon, will continue to rise for at least the next few years due to the projected expansion of infrastructure. Social infrastructure and connectivity are the other potential developments that will benefit the industry. As a result, making investments in the area could eventually help you get returns.
In light of this, a customer may want to look into Smart World The Edition for end-use and investment purposes. Nonetheless, it is always a good idea to make several site visits to stay informed about how a project is developing.
On May 10, 2023, the Union Rural Development Ministry (URDM) announced the formation of a task force for land governance in North-Eastern states. On May 3rd, at the Conference “ Land Governance in the Northeastern States” in Guwahati, Assam, Mizoram, Meghalaya, and Tripura all agreed that modernization and digitization of land records are critical to district development. While these initiatives have gained traction in some parts of Assam, others, such as the Karbi Anglong Autonomous District Council, the Bodoland Territorial Council, and the Bodoland Territorial Council, remain behind.
Dharitri Assam Land Records (ধাৰী অসম ভূমি অভিলেখ )
Dharitri Assam Land Records is an online portal that ensures the smooth transfer and registration of all Assam land records processes. The Assam government provides land information, such as mutation, partition, conversion, reclassification of land records, and land revenue collection.
It also ensures that communication with the Revenue Circle, Sub-register, Deputy Commissioners’ offices, and the Directorate of Land Records is as smooth as possible. It will appear in Jamabandi Assam.
Assam Integrated Land Records Management System (ILRMS) Goal
The Assam state government’s Integrated Land Records Management System, or Dharitree (or Dharritri) portal, integrates land-related information. The information it provides is as follows:
Registration and Transference of Land
Periodic updating of Land records, land conversion, and reclassification.
Land tax collection.
What Citizen Services are Available in Dharitree Assam?
Dharitree Assam offers an array of customer-centric services through its online portal, as stated below:
Online property registration eliminates the need to visit a land registration office.
Obtaining a NOC and tracking its status before purchasing a property to make sure there are no legal disputes.
Updating land records online, such as mutation and reclassification, through Dharitri Assam online portal.
This online portal manages the entire land revenue collection process, ensuring maximum security.
How to Look Up Dharitri Assam Land Records Online
The digitization of Dharitree land records has made many things easier. It is now possible to check land records in five simple steps.
Step 1: Go to the official ILRMS website. If the page is in Assamese, you will have the option to translate the page to English if you would like. There was a lot of Assamese on the page.
Step 2: When you arrive at this page, click the “Deposit” or “Jamabandi” button.
Step 3: Once you complete this second step, you will redirect to another page. Now, the next step is to select the district for which you want to pull out the land records.
Step 5: Click a district to go to another page. On this new page, you will identify and select your circle name. It is best to gather this information when your circle is new to you.
Step 5: After you have chosen your circle, you must select a name for your village. After you have chosen your town, you need to select the year for which you want the land record.
The LRMS Land Registration Procedure
The quickest way to register for ILRMS is to download the Dharitree Assam app on your mobile device. To finish the registration process, log in to the app with your ID and password and enter all required information.
How do I Land Records in Assam Offline?
If the name of the Assamese village does not appear in the list on the Dharitree Assam online portal, you must contact the relevant circle office. It is because some land records have yet to be digitized, even though over 26,000 village maps in Assam have made it to the Dharitree Assam portal. To get a paper copy, go to the nearest Circle office and fill out an application.
Assam Dharitree Mobile Application
The Assam Government has launched the Dharitree Assam mobile application to help people easily check their land records. This application aims to provide a wide range of services, such as checking land records, mutation, Panheeyan Property Registration, and generating NOCs.
You can download the application in PDF format as a citizen if you find it on Assam’s digitalized land record. To verify land records on your mobile app, follow the steps below.
Step 1: Download the Dharitree Assam app on your mobile.
Step 2: Launch the app and navigate to Dharitree land records.
Step 3: Select a village, circle, or district. Using the patta number or pattidar name and dag number, find the land records.
Step 4: Fill out the CAPTCHA.
Step 5: After completing these steps, you can view Assam land records through this app. You can also download the information in PDF format for future reference.
Have you recently heard of Freedom Property Investors and want to learn more? Then you’re in the right place.
Let’s begin.
The two founders of this property mentoring service are Scott Kuru and Lianna Pan. I find it impossible to imagine this business running with just one person because they complement each other.
Over the past ten years, they have changed lives as part of their mission to transform society through real estate investing. Their advertisements have started to appear on social media in the last two to three years, sparking an increase in interest from all sides.
Some people have expressed skepticism, especially on Reddit, while others have praised their company. After all, people who paid for their mentoring have left them more than 500 reviews.
You get to see numerous properties that fit into your 10-year property investment plan after paying the purported $3,000 membership fee. You could get discounts and rental guarantees because they are off the beaten path. The Scott Kuru team has carefully chosen these properties, and occasionally they are also making investments.
The entire purpose is to collaborate with you over the long term. The company wants to help regular investors grow their portfolios by using their in-house team to make the procedure as easy as possible. The other option is to travel alone and take care of yourself.
The membership members were what I enjoyed seeing the most. What I liked seeing the most were the membership members. Many of these people have high incomes, are intelligent and educated, and did their research before investing.
How long will it take the property to make a profit? I do have that question, for sure.
I favor producing digital assets. These are websites that make money and generate a ton of cash flow. I’ve even made some impressive profits when selling websites.
Compared to investing in real estate, I was able to replace my income more quickly and lead a nomadic lifestyle. Before the year 2020 even began, I was working from home.
Although mostly inactive, these content websites will take some time to gain popularity. This is related to building a portfolio of physical properties. You must exercise patience and take a long view.
For others, owning property may be too long of a strategy, especially if you aspire to retire overseas or simply retire in Australia over the next few years.
You’ve likely seen a lot of negative comments about Freedom Property Investors online from sites like Property Chat, Reddit, and other places. These guys’ recent explosion hasn’t done their reputation any favors.
When you cast a wide net, you occasionally attract lots of haters. These individuals have a history of hatred or narcissism. Some of these criticisms are reasonable because you can receive constructive criticism.
I advise doing your research and due diligence on real estate investment deals or education businesses that fall under this category, even though they have the best intentions. Even though you might get some incredible deals and fantastic outcomes, especially in these difficult times, you might also end up with a less-than-stellar property.
If you lack the time, the desire, or the confidence to conduct in-depth research on property investing on your own, Freedom Property Investors can be a huge help. Most of these companies have in-house mortgage brokers who can assist.
Compared to a buyer’s agent, who usually charges $ 30,000, they are similar yet distinct. If you’ve done extensive research and it feels right for you, then I’d suggest moving forward with anything.
Through 2022 and beyond, I’d also think about supplemental sources of income, especially if real estate investing might need to take a backseat for a while.
Urban real estate markets have started to prioritize apartments with balconies. The demand for balcony space is constantly increasing, especially in a metropolis like Mumbai, to the degree that it is now necessary. Balconies are a common feature of apartments. The purpose of flats with balconies is to give residents access to a private standard of living and property value.
Some people might hesitate to purchase an apartment building’s top floor, while others may want to live there exclusively. The top floor differs from the lower ones due to how living there feels. It provides fresh air and breathtaking views. The most amount of sunlight strikes it. Additionally, if you are on the top floor, you won’t have to put up with the noise of moving furniture or kids playing above you! Some people choose to stay at the top because they value these advantages.
However, the top floor’s primary drawback is that it is considerably hotter than the other floors. People face many challenges residing on the top floor with private terraces and balconies in cities with extreme summer heat. Also, it is possible to feel water leaks from the roof on the top floors, but builders frequently ignore this. It is due to improper ventilation on the upper floors.
Numerous studies have demonstrated that a residence with a private terrace with a balcony has many advantages and disadvantages. If you prefer views, you will enjoy living on the higher floor. You can see everything clearly if you look at it from above. You can get away from the bustle of the city while still enjoying plenty of daylight and a pleasant breeze.
What is a private terrace?
A terrace is an open space that may connect to or separate from a building. The entrances to a balcony, however, can differ. Most places have terraces where guests can go outside the hotel and get some fresh air. If the dimensions are correct in the new location, it will be possible to relocate the furniture on the terrace.
Outside, you might enjoy drinking coffee or tea while studying for tests. Anytime during the day, you are welcome to unwind and take a nap there. Regarding public open spaces, your terrace offers privacy while still being outside.
Benefits of purchasing a Private Terrace Flat in Mumbai with a Balcony
It allows one to feel more like a part of nature.
You can unwind on a private terrace in a healthier and cozier environment. You can also create a lovely terrace garden to enjoy the outdoors. It will boost your immunity and be advantageous for you. If you have a sizable balcony with plants, your home will be better ventilated and experience a lower summer temperature.
A reviving workplace
Working from the same spot while seated in a living room or bedroom can get boring. It might limit your capacity for originality and creativity. It is especially valid for your lifestyle of working from home or for intense study sessions. You could take advantage of the fresh air by using the natural surroundings close to your house.
A spot to relax and unwind
On the terrace, you might enjoy reading your favorite book or sipping tea in the morning. At any time of the day, you can relax and nap peacefully. Unlike public parks and gardens, your terrace offers privacy while still being outside.
Gardening space
The increased oxygen flow caused by plants contributes to the air’s purification. On your terrace, you can grow visually appealing flowers and indoor plants to add aesthetic value to your house. Outside, you can also grow fruits, herbs, and vegetables.
Pet-friendly area
Experts say an outdoor space is essential for your pets’ happiness and health. Taking your pets for daily walks or runs around your neighborhood, a private terrace may be a great and safe place to get some exercise and fresh air. With less anxiety and hyperactivity, the fresh air may vastly enhance their health. On the terrace, you might erect a small playpen for your pet.
Income from a property that includes any building or land attached to it is taxable under the heading “house property.” House property is divided into three categories to calculate income under this heading: let-out, self-occupied, and deemed let-out house property.
Based on its annual value, a house property’s income is calculated. An annual value is determined by considering a variety of variables, including municipal valuation, fair rent, standard rent, and actual rent. Even if a property isn’t rented out throughout the year, its annual value is calculated on a notional basis and, as a result, taxed. However, the yearly value of any two of these properties is considered “nil” if they are both self-occupied or the owner can’t occupy them because of his employment, business, or profession at another location.
As per Section 14 of the Income Tax Act of 1961, there are several ways through which
a person can earn an income. This income is taxable. For the computation of taxes, these methods are broadly categorized under five heads. Income from house property is one such source.
Self-occupied residential property: In this situation, no income was made.
Let out house property: In this scenario, the income earned is the actual amount of rent received.
How do we determine the income from housing?
To calculate the income from housing, follow these steps:
The gross annual value of the property (how to determine the gross annual value of real estate) – A self-occupied home has no yearly value. It is the income received for a home’s rent from an occupied rental property. After that, the article will respond to a frequently asked query about how to calculate the salary for a self-occupied home.
Reduced Property Tax: The GAV of the property is reduced when a property tax is paid.
Net Annual Value (NAV) = Gross annual value – income tax
Section 24 of the Income Tax Act permits a deduction of 30% of NAV, which can be reduced to the standard of the 30% limit; other costs like painting and fixes are not eligible for tax relief. India has strict case laws governing income from residential property.
Reduce house loan project: Under Section 24, mortgage interest paid during the year is also deductible.
Find your house property income by multiplying the resultant value by 100. This is subject to tax at the appropriate slab rate. A self-occupied house’s annual value fluctuates according to the housing market.
Loss from house property: Since a self-occupied home has no GAV, taking the home loan interest deduction will result in a loss from house property. Carefully calculate the income from a residential property.
How do you figure out a house’s gross annual value?
The amount of money the assessee earned in a given year because of the land the person or she owned is known as income from house property. The gross annual income is calculated differently for each category. The different types are listed below.
Category 1: Residential property leased or rented over the previous 12 months
In the following situations, the gross annual value of a home that was rented out in the previous year is higher:
a. Expected rent, also known as deemed rent, is determined by using the higher of the municipal valuation or the fair rental value.
b. The exact rent amount that the assessee receives from a property that is either entirely or partially rented out.
According to the clause, the amount of rent received must be considered the gross annual value of the real estate if it exceeds the anticipated rent. If the amount of rent collected falls short of what was expected, the anticipated amount is equal to the gross annual value of the real estate.
The higher the expected/deemed rent, the higher the municipal or fair rental value.
Category 2- Residential property partially rented or let out during the year
If a home was rented out for a specific amount of time but is vacant for the remainder of the year, there are two possibilities.
Case 1: Despite the vacant period, the total rent collected is higher than anticipated. In this case, the actual rent paid matches the gross annual value of a house property.
Case 2: Due to the vacant time, the total rent collected is less than the deemed rent. In this case, the actual rent received equals the gross annual value of a house property.
Case 3: A residential property was used as a rental for a portion of the year but was otherwise self-occupied.
In this case, the time the house property was used for the taxpayer’s use is unimportant. The higher the actual rent paid for renting out a property for a specific period or the planned rent for the entire year, the higher the gross annual.
What is self-occupied property?
Self-occupied property is real estate an assessee uses as their primary residence for the entire year. Even if the taxpayer’s spouse, parents, or children live there while the individual is away for personal or professional reasons, it would still be considered self-occupied property.
How is a Self-Occupied house property’s tax liability fixed?
Due to the amount of loan repayment and property tax repayment, the owner of a self-occupied home incurs a loss when there is no income from the property. The tax exemption on home loan interest for a self-occupied property is up to Rs. 2 lakhs under Section 24(b) of the Income Tax Act. Up to Rs. 1.5 lakh of the principal amount of a home loan is exempt from taxes under Section 80(C).
Clear title is a necessary prerequisite and thorough due diligence when purchasing a property: It means when a home with a clear title is transferred to someone else, that person becomes the sole undisputed owner, and no other the party can make any kind of legal claim to its ownership. See the titles of the document of the last 40 years.
No encumbrances or liens: such as taxes and loans: please check that the property has no previous taxes pending or previous unpaid loans.
Make sure that the sale deed includes no conditions: It is important that the the seller clearly states whether or not there are any conditions attached to the sale of the property, such as a no-return policy or other contingencies.
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To make sure that you get a good deal when you buy a property, there are certain factors that you should consider and precautions that you should take. A clear title, along with no encumbrances or liens. To ensure thorough due diligence when purchasing a property, make sure that the sale deed includes no conditions such as restrictions on future mortgage payments or other restrictions on the use of the property.
RBI decided to cut the key policy rates by 0.25%. Welcoming the rate cut, realtors said that this will boost the sector.
Finally the Reserve Bank of India cut the key policy rates. While welcoming the decision of RBI, realtors said that it would boost the sector. RBI cut the repo rate (the rate at which banks borrow from the RBI) by a mere 0.25%.
RBI slightly cut the key rates.
Commenting on the rate cut, realtors said that the interest would have gone down if the reduction rate was further lowered. A further reduction would necessarily boost the home sales. Home loans will be lowered. This will boost the sentiments of the buyers.
Along with the buyers, the builders also will benefit from further rate cuts. If the repo rates are further revised, it will bring the EMIs down.
Speaking on the issue, former CREDAI chief Lalit Kumar Jain said that the common house buyers will benefit from the reduction of repo rate.
The Central Bank of India today cut the repo rate, short-term lending rate, by a mere 0.25%. After the reduction now the repo rate stands at 7.25.
Developers seek more rate cuts from RBI.
The RBI decision was met with mixed response. DLF, one the largest developers in India, said that the rate cut will hardly have any impact on the realty sector. The realty major said that the reduction is too small to leave an impact on the sector.
Rajeev Talwar, Executive Director of DLF Group, demanded further reduction. He opined that only a further reduction will boost both economy as well as realty. Mr. Talwar stated that the rate cut is very so small that it is insufficient to boost either economy or realty.
Assotech MD Sanjeev Srivastva said that the move will boost the sector. He hopes that the rate cut by RBI will be passed on to the customers by the financial institutions.
