What does the RE (real estate) industry want from the finance ministry? I mean..will they ever, ever stop asking for favors?

My view:

  1. the government should scrap section 24 – interest on money borrowed to buy a house should not be allowed as a deduction. Period.
  2. 80C should be made more crowded – allow repayment of loans – under sec 80c
  3. Builders should be fined for delaying property hand overs
  4. allow house rent deduction for salaried persons / unsalaried persons doing own business upto Rs. 25,000 per month
  5. create infra in the outskirts of every city and start developing them fast
  6. bring in a regulator quickly
  7. put a ceiling for the cost of the flat to allow the interest as an expense – RIGHT NOW IT IS UNLIMITED…NO upper limit for the second house
  8. implement the wealth tax act strictly and levy wealth tax on the second house whether rented or not
  9. bring Reverse mortgage quickly by giving incentives
  10. compel buildings over 50 years of age under wealth tax and revoke income tax deductions..

enjoy…very different from what the industry has asked for…

 

http://www.business-standard.com/article/companies/the-real-estate-sector-s-key-expectations-from-union-budget-2016-116012700477_1.html

 

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  1. sir just removing income tax saving due to home loan will make all the people buying house to stop

    2 main brainy reasons people buy house is saying why pay rent and you can save huge tax

  2. Subra, economic will crash like anything if these suggestions are implemented. Real estate sector of any country is itself alone is powerful enough to drown the economy of that country.

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