‘Owners with single home should be given tax relaxation’
New Delhi: The Real Estate Association President Rohit Gera has asked the government to give tax relaxation to single home owners in coming budget.
The Indian real estate industry has been under stress for over the past year. Real estate development is a highly capital intensive business and for the most part, the residential segment is funded through customer sales proceeds. Developers therefore do their budgeting with this assumption and therefore, for the most part, finance costs on construction of the project are not factored in the proforma profit calculations.
As a result, when sales are slow as they have been, developers (who have access to construction finance) are forced to borrow and the interest costs eat into profitability. This gets further compounded when construction costs rise more than the increases in the sale prices of the apartments. This is the scenario the real estate industry has found itself in over the last year. Costs are up, sales are down. This has led to stress for the real estate developers. In 2009, in spite of the continuing negative sentiment based on the global meltdown, the UPA re-election led to an instant impact to the stock and real estate markets. This time however, even though the mandate has been far more decisive, the real estate segment has not seen the turn in customer sentiment and purchase. I believe this is because people are waiting to actually see the benefits to their pockets of the “ache din” promise by the government. Once this happens, the existing need for homes will translate into demand.
It has been a wonderful experience in owning a commercial space at Gera's latest offering in Goa GERA GRAND.
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My experience has been excellent. I have purchased an office in Gera’s Imperium 2 and a s..
Having a commercial space in and around Panjim was our long desire and this could be possible with Gera’s.
Patto Plaza has ..
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...