Unlike the other fields of profession, the realty arcade has always felt like the unwelcome guest, being constantly denied of its recognition.
Do you know exactly why? Because real estate in India is still not an industry.
However, things are looking up.
You must have noticed your daily newspaper splashing all kinds of celebratory news about how this year’s budget did an amazing job at acknowledging the property business. However, for people who have no idea as to what Budget 2019 has in store for the Indian real estate market, this informational blog is the perfect solution to your curiosity.
Mentioned below are all the ways that the real estate business gained from Budget 2019. For the love of that dreamy 2 BHK flat in Noida that you have your eyes on, please have a look!
1. The Clause of Tax Exemption
What if I told you that you were exempted from paying income tax, now? Obviously, you’d be filled with immense joy, so much that you’d want to dance in a pool of colourful confetti.
However, hold your horses, before you carry on with all of that. Tax exemption is great news for those whose annual salary/income is at most ₹5 lakhs only. For people whose annual income is beyond ₹5 lakhs, will have to pay comply with the rules of taxation, by the book.
Why do you think the government must have done this?
The national government wants to increase your disposable income. If you have more expendable income, you’re bound to consider investing in flats in Noida or other investable NCR regions.
2. Tax is Relieved on Notional Rent
For instance, suppose you own a property in Greater Noida and another one in Delhi. One of those is self-occupied, at the same time as the other one being vacant. You haven’t actually let it out on rent, or getting any rental income out of that vacant apartment. But you have to pay a tax on that notional rent anyway.
Isn’t that unfair to you?
Well, not anymore! Budget 2019 proposes to exempt charge of income tax on notional rent on a second self-occupied house. This implies that you can capitalise your hard-earned money on another property in Noida or any other beautiful part of the country.
3. Notional Tax on Unsold Property
The finance minister has recommended to prolong the period of freedom from taxation on notional rent, on unsold property, from one year to two years, starting from the end of the year, in which the project has been finished.
So if you’re a real estate developer with a property in Noida Extension (or anywhere else for that matter), which has just completed its construction, and has a lot of unsold inventory; rest assured, you don’t have to pay notional tax on it.
4. Capital Gains of Up to ₹2 Crores
Here’s another benefit that can be availed, if only once in a lifetime.
Under Section 54 of the Income Tax Act, the capital gains will be elevated from investment in one residential house to two residential houses, for a tax payer. This variety of capital gains will be up to ₹2 crore, and can be availed once in a lifetime.
Well, how about that? Who knew the National Budget could sweeten your life, in blink of an eye. Hell, you must not have even given two hoots about Budget 2019, before this moment. But now that you have, it’s never too late.
Conclusion: Invest in Real Estate, for your Monetary Welfare.
With all these changes and benefits coming into the picture, the government wants you to understand that you’re not going to be spending money on real estate, anymore. Rather, every penny that you’ll put into this sector, will be a wonderful investment.
So, presenting one of the finest flats in Noida Extension, especially for you!
Welcome to RG Luxury Homes, where Exclusivity has a New Address.
When it comes to investing in appreciating assets, this residential property in Noida (Extension) is definitely the one to watch out for. Because RG Luxury Homes is positioned in one of the most sought-after locations in NCR region. From your affluent suburban crowd in the vicinity to proposed metro station at only 2 minutes walking distance, everything about this establishment’s location is prestigious.
And do you know what great things does Google has to say, about the term “prestigious”?
Prestigious (adj.): inspiring respect and admiration; having high status.
With a status that high and exclusive, why on God’s green earth, wouldn’t you want to invest in RG Luxury Homes?