Author
The author is Chairman – JLLR (JLL Residential)
an Indian Millennial often opts for homeownership where his or her global counterparts may happily live their entire lives in rental homes. In India, no single factor conveys a feeling of security and social integration quite as much as a self-owned home does. Buying a home may or may not make the same kind of investment sense as stock market speculation. However, an Indian Millennial is very apt to consider owning a home as an essential and fundamental basis from which to launch the rest of his or her other life plans.
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GST may not be instrumental in bringing down the prices of residential real estate over the short term. However, it will benefit all the stakeholders of the residential real estate sector, as the perception of the sector will improve on the back of a simplified tax structure and accountability being fixed at every stage
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It cannot be said with certainty that the demonetization move has completely eliminated black money from the sector, particularly where money that is already deployed is concerned. However, cash transactions wherein unaccounted or ill-gotten money was being parked in real estate have certainly become exceedingly difficult to execute
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The Budget missed out on giving any additional income tax incentives to first-time home buyers or providing higher tax savings on housing loans and house insurance premiums. Nor did it raise house rent deduction limits.
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