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Gera in News
 
 
 

Affordable homes more difficult to buy

The Times Of India - page 16 - 1 March, 2012

Pune: City-based real estate sector players said the Budget had ignored the need to make homes affordable. Union finance minister Pranab Mukherjee’s leaving the cap on interest deduction of Rs 1.5 lakh untouched and retaining the limit on loan amount eligible for 1 per cent central interest subvention has disappointed many. Liberalizing both provisions would boost to buyer interest, they said. Lalit Kumar Jain, National President of Credai said the industry had expected a big boost from the budget for affordable housing through special schemes, an interest subvention of 5 to 7 % for LIG and economically weaker sections housing and promotion of rental housing through tax exemption. Rohit Gera, vice president of Credai Pune Metro, called the budget a no-show for real estate sector. Rise in excise duty and service tax favour neither the construction industry nor home buyers. The selling cost will increase leading to costlier homes. “The Government has allowed external commercial borrowings for low- cost affordable housing projects. It can provide affordable housing. The service tax exemption on rental homes is a good move. Also, continuation of 1 % interest rate subsidy on loans of Rs 15 lakh for a house of Rs. 25 lakh is welcome.” Anuj Puri, chairman and country head of real estate advisory Jones Lang LaSalle India, said Indian real estate sector does not have much to cheer about in this budget. “Exempting proceeds from sale of residential property from capital gains tax if they are invested in equity or equipment of an SME provides home owners with more reinvestment options. Currently, the only route for exemption was purchase of another property or tax-saving bonds,” he added. “The budget has encouraged affordable housing sector in the form of enhanced budgetary support and institutional support by creating a Credit Guarantee Trust fund and allowance of ECB in affordable housing,” Anurag Mathur, managing director, Cushman & Wakefield India, said.

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Testimonials

First of all I would like to thank  you  and the Gera team for organizing different workshops at our doorstep.
The best thing I have done to my kids is that I  took a right decision to buy a flat in Gera.
Because of this decision , Vishnu could attend  the development workshops that were conducted.
Vishnu was a shy child who didn't like to participate in any of the programmes.
As far as Dale Carnegie workshops is concerned   it  has given him a lot of confidence and was presenting things in a much better way and I can see a lot of improvement in him.In simple words u made a person(..

My son Tattva had been enrolled in the intermediate level and has been coached by the Vishwanathan Anand Chess Academy coach . Tattva has made remarkable strides and will be on his way to get his FIDE rating in November. A lot of credit goes to the mentor for his unique way of handling his students. He has been very patient while working with Tattva on his areas of improvement. In addition before the tournament the coach had voluntarily added additional classes and doubled his efforts to get a better performance out of Tattva. He has shown complete ownership which is commendable. I hope he continues to develop more and more chess players in the coming days.

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It's a wonderful experience with the tennis academy and my daughter liked it. Also she is getting good training and love for the game.
The coaches are good and we would continue using their expertise for Nishita going onwards. We are also looking forward for signing (actually instrument) and dancing coaching too.

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This is to share with you that both my little girls (Aditi Anisha) are really enjoying their Tennis classes at the Mahesh Bhupathi Tennis Academy.
I always find them very excited whenever there is TENNIS CLASS, and this excitement matters to both of us, as the kids seems to be interested.
It’s nice to see them constructively engaged, and coming home happy and having felt productive in their own child little way. It’s a great way for them to bond with other young ones and feel belonged to a larger community.
Thanks to You, Gera Developments and MBTA for giving our young ones, an opportunity for a wonderful learning experience.
Now they are looking forwar..

Regarding the workshops & different academy sessions, it has been wonderful experience so far for Shlok and we’re looking forward for the new opportunities.
It’s absolutely fantastic to have all these academies in the premises, and that too from the renowned personalities, so we can send kids without worrying about other factors like safety & all.
And most importantly, a big thanks to you for the lovely follow-ups & timely updates about the upcoming/ongoing sessions.

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