As per the source saying at the www.propertykhazana.com the realty marketers in the country are looking forward on reasonable houses, so as to be out of the present turmoil that has worsened with a slow down in demand from the IT region. CREDAI which is the Realty Estate’s Association of the builders and having around 3500 members in its hold has requested for certain reliefs like tax etc, from the government when the Union Budget is going to be presented. The association feels that these reprieves may be useful for them to make reasonable housing segments, as it would be a sort of boost for bringing up more of such projects .
The Chairman of CREDAI says at the www.propertykhazana.com that rates for reasonable residential segment could be around Rs. 2500 Sq.ft. which may also include the cost for the area, construction activity and such other allied services. The Chairman also states that “if houses of around 350 to 450 sq. ft can be built at a low rate, it may boost up the people’s confidence to purchase such houses”.
The Realty’s confederation having requested for certain reliefs for houses for around 900 sq. ft wants to have a sort for developing infrastructure with a exceptional residential area on around some 20 or more acres for funds to be made available, added the source at www.propertykhazana.com. The increase in tax relief has given morale boost and has also made a commendable response. The CREDAI President states that the IT segments growth decline can be attributed to one of the main reason for the slump in the realty segment , but some positive approach were observed during the last two months with an increase in demand for office space from the telecom company.
The CREDAI president further continued to state that the rates for the estate properties were reasonably quoted and to selling the same was not a difficult task. If right prices are to be got, the government should cut down the stamp duty which is said to be highest in Kerala at 15 % or so where a national level it is only 8 to 10%. As such, the National Housing Policy requests the states to cut it down by 4 to 5%. For more and latest realty updates follow www.propertykhazana.com.
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