What did Indian Real Estate gained from Union Budget 2020-21 ?

The Indian real estate had a bag full of expectations from Union Budget 2020-21, but FM Nirmala Sitharaman released only a handful of goodies from her bahi-khata for the sector. However, this Union Budget for homebuyers brought some relief. If you are an investor, then you must know what did the Indian real estate gain from the Union Budget 2020.

Expert Opinion:

While understanding the market scenario, buyers’ sentiments and the tabled budget, Mr. Amit Raheja, CMD, Wealth Clinic shared his views, “Though real estate has not got anything directly from this Budget but there are announcements that will indirectly help the sector. The direct benefit will come from the affordable housing tax holiday which has been extended to March 2021 and extension of withholding tax. By extending withholding tax, the developers and buyers will benefit if a developer sells his product at a rate lesser than the circle rate. This happens when there is a slowdown in the market and as an urgency measure someone sells it at a lower price, the transaction in these cases used to become questionable on the pretext that the rest of the amount has been paid in cash. However, real estate will also gain from the tax relief that people have got, which means that the buyer will have more disposable income at hand leading up to more decisions to buy property. Then we have measures taken by the government to boost rural economy and improve infrastructure that will indirectly lead to real estate development.”

Major Support for Affordable Housing

An additional deduction of Rs. 1.5 lakhs for the interest paid on home loan availed to buy an affordable home has been extended for a year and this is a reason to cheer for the home buyers. This announcement in Union budget 2020-21 is going to boost realty business, as more buyers are estimated to approach the property market for buying residential property under the affordable housing segment in the coming financial year.

Earlier to this, the same deduction was offered under Section 80EEA on a home loan up to Rs. 45 lakhs till March 2020. But now, the homebuyers are eligible for the same deduction till March 2021. This is one of the positive moves taken in the second union budget under the regime of PM Narendra Modi.

Increase in Tax Holiday for Developers

To balance the demand for affordable housing, Union FinMin Nirmala Sitharaman announced, tax holiday on the profit generated by the developers on the affordable housing projects that are sanctioned till March 2020. The Union Finance Minister also laid a proposal to extend the date of approval for affordable housing projects to avail this tax holiday by one year. This is going to boost the confidence of realtors by manifolds.

This tax holiday on affordable housing projects is available under Section 80IBA.

Concession on Real Estate Transactions

The Union Budget 2020 also considered the issue of capital gains. While applying the provision to tax, the gap between capital gains or income from other sources is less than the stamp duty value by 5%, then this will be said as income for the property buyer and the seller. Thus, the proposal is tabled in the house to increase this limit from 5% to 10%, as the real estate transactions will be carried out in a transparent manner.

Limit Amendment for Debt Recovery under NBFCs

Union FM Nirmala Sitharaman proposed to limit various NBFCs [Non-Banking Financial Companies] for debt recovery under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002 from Rs. 500 crores assets to Rs. 100 crores or loan amounting from Rs. 1 crore to Rs. 50 lakhs.

Infrastructure, Power & Energy

While tabling the Union Budget 2020, FM Nirmala Sitharaman announced that the country will have 100 new airports by 2025. She informed the house about allocating Rs. 1.7 lakh crores for transport infrastructure in the new financial year that will begin from 01st April 2020 and will conclude on 31st March 2021.

Similarly, the Finance Minister also proposed an expenditure of Rs. 22,000 crores on various power and renewable energy projects in the financial year 2020-21. She also announced the expansion of the natural gas pipeline from 16,000 kms to 27,000 Kms.

All this is going to positively impact the Indian real estate as the homebuyers prefer to buy a residential property that offers seamless connectivity to airport and highway. Along with this, the home buyers focus on buying housing units enabled with clean gas supply and solar panels.

New Tax Slabs for Individuals

The new tax slabs are an option for the individual taxpayers if they don’t wish to follow the old tax slabs. The Narendra Modi-led Union Government has given the taxpayers a chance to avail tax rebates either under the new provision or according to the older version whichever suits the person as per his/her annual income and investments. So, here are the new tax slabs as announced in the Union Budget 2020-21:

Annual Income (Rs.)                                Tax Slab
Upto Rs. 2.5 Lakh                                                    Nil
From Rs. 2,50,001 –  Rs. 5,00,000                           5%
From Rs. 5,00,001  – Rs. 7,50,001                           10%
From Rs. 7,50,001  – Rs. 10,00,000                         15%
From Rs. 10,00,001– Rs. 12,50,000                         20%
From Rs. 12,50,001 – Rs. 15,00,000                        25%
Above Rs. 15,00,001                                                30%

*Cess and Surcharge remains unchanged in the new financial year.

The Union Budget 2020 has tried to boost the confidence of home buyers, investors and realtors on a whole by offering various rebates and relaxations. The proposed infrastructure projects will also help in the revival of the realty market. But, the no-move attitude on issues like industry status to Indian real estate, one-time disbursal of loan and structuring of Alternate Investment Funds can pull off the property business from the track.

Migsun Group - All Residential and Commercial Projects

Migsun Group is a reputed realtor from Ghaziabad and is known to deliver what they promise. The company is an extended part of the Migsun group, as the organization has a bunch of ventures that cater to all sections of the society.

Mr. Yash Miglani helm the Migsun Group presently and is working actively to take the company to new heights. The Migsun Group firmly believes in the 3Ts that are Teamwork, Transparency, and Tenacity. The 3Ts empower the organization to develop and deliver the best-in-class realty projects in the residential and commercial segments.

The Migsun Group in Ghaziabad is a name to trust upon as the company has successfully delivered several projects in hospitality and retail business from the past three decades. The organization is one big family that works in a disciplined manner to construct and transform the lives of people belonging to every section of society.

The Ghaziabad-based Migsun Group has successfully delivered over ten residential and commercial projects while a couple of more realty projects are under construction. Since its establishment in 1992, the company has continuously introduced new practices to transform the property market and this can be sensed from the success that the Migsun Group has achieved in this long and successful journey.

The company is developing several residential and commercial projects like Migsun Vilaasa, Migsun Wynn, Migsun Ultimo, Migsun Migente, Migsun Atharva and Migsun Roof. All these projects are planned in the Raj Nagar Extension and Greater Noida. The Migsun Group firmly believes in working according to the guidelines laid under the RERA Act 2016.

Hence, the Migsun Group has registered all its projects under UPRERA and mention them clearly where ever they are required to be shown.

Migsun Atharva in Raj Nagar Extension is a premium residential project by the Migsun Group. The project is registered under UPRERA and is designed to have 3BHK and 4BHK apartments. The township has various amenities such as dedicated Kids play area, high-street double-height retail shops along with various fun and food activities. This premium residential project by the Migsun Group in Raj Nagar Extension has 3-side connectivity and the proposed 6-lane expressway that will connect NH-58 with Meerut and Dehradun to make traveling a hassle-free experience in the coming time.

The Migsun Vilaasa in ETA II, Greater Noida is a premium project with a starting price of Rs.15 Lacs that goes up to Rs. 74 Lacs. The Migsun Vilaasa in Greater Noida is designed to have 2BHK, 3BHK and 4BHK residential apartments in different sizes of 660 sqft, 860 sqft, 1075 sqft, 1375 sqft, 1925 sqft, 2740 sqft and 3520 sqft. This premium residential project in Greater Noida is enabled with various modern-day amenities like 24x7 Power Backup, Open Lawns, Badminton Court, Lifts and more. Migsun Vilaasa is close to the proposed Jewar International Airport, Gautam Buddha University, Greater Noida Expressway and the Buddha International Circuit.

Migsun Wynn is another premium project in ETA II, Greater Noida and is designed over 8.5 acres of land. This residential project in Greater Noida is an address to luxurious living and high-end amenities such as the Gymnasium, Clubhouse, Dedicated Kids Play area, CCTV Camera and more ensures safe and secure living. Migsun Wynn in Greater Noida shares proximity with the Aqua line metro, proposed Jewar International Airport, Buddha International F1 Racing Circuit and Amity University.

The Migsun Group has two more residential projects named Migsun Roof in Raj Nagar Extension and Migsun Ultimo in Greater Noida.

For more details call us now: +91-08929999246

Website -  https://www.migsun-group.com/

Wealth Clinic launched its most successful Property Parade

Wealth Clinic for the first time ever organised a 2 days mega property expo ‘’Property Parade’’- Property ka Maha Collection at hotel Radisson Blu, sector 18 Noida on 30th November and 1st December.

Property Parade showcased handpicked properties across NCR from prestigious developers like Migsun, Supertech, Rise, Godrej, CRC, TATA, ATS, Urbtech, Mahagun, Urbtech, Paras, ABA Corp, WTC, Omaxe, Ambience, Stellar and Eldeco that actively participating in this event. 

This Property Parade in Noida showcased a wide range of commercial and residential projects to attract potential customers.

These projects are mostly located at the prime location of Delhi NCR and are best in infrastructure and amenities. The sole purpose behind this event was to bridge the gap between the buyers and the developers by offering top-notch properties at an affordable price with exclusive deals. The event witnessed an overwhelming response by more than 3000 property seekers who actively participated in the event. By successfully selling more than 100 properties during the event, Wealth Clinic recorded over ₹ 1.85 Crore sale. 

Many of the offerings at the Property Parade Event were under the PMAY scheme, which will further attract the property seekers and also promote the PMAY scheme. This event focused on offering exciting deals on top-notch properties by prestigious developers.

This mega property expo featured major developers, magnificent properties and magical deals everything under one single roof. Most of these projects are located in the prime locations of

Noida, Greater Noida, Noida Extension, Ghaziabad and other adjoining areas of NCR. 

Moreover, the prospective clients also got an opportunity to meet the leading

Developers showcasing their finest properties at the property event. The property parade event featured an array of offers that included free Vastu consultancy, loan assistance and special discounts on properties upto to 15 Lacs with assured gifts on every booking. They also conducted a lucky draw contest for the property seekers who attended the event. The property parade event was one of the biggest property expos in NCR that witnessed a heavy footfall. The event was well-organized by Wealth Clinic that turned out to be a grand success.

For more details call us now: +91-08929999246

Website - https://www.propertyparade.in/

Express Zenith - 2 & 3 BHK Ready to Move in Project

Express Zenith is a residential project featuring 2/3 BHK ready-move-in apartments and penthouses nestled in sector 77, Noida. Express Zenith Noida is a grand residential complex sprawling over an area of 5.5 acres of land with each unit meticulously planned in a way that allows ample sunlight and fresh air, thus making the rooms airy. Express Zenith Floor Plan is comprising of spacious and well-ventilated rooms with flats opened from all the three sides for better cross-ventilation throughout the home. 

With 450 families already residing, the project plan has been sanctioned by Noida Authority. Express Zenith Sector-77 Noida is boasting of beautifully landscaped gardens and state-of-the-art amenities that include an exclusive clubhouse, squash court, indoor & outdoor games, sports facility, children’s play area, etc. Every unit here is meticulously designed, thus making the rooms spacious and airy. The project boasts of 75% lush green surroundings with beautifully landscaped gardens and water fountains. Speaking about the amenities, Express Zenith is the perfect combination of luxury and comfort, with more than 450+ families already residing. The project also boasts of ample green area and separate playing area for kids where your little ones can play and the elders can relax during the leisure time. The project has its commercial complex that has the presence of pharmacies, grocery stores, parlour and local eating joints for the day to day needs of the residents. The round the clock security and top-notch maintenance facilities make it the perfect paradise for the property seekers who desire to live an opulent lifestyle at the most bustling locality of NCR. 

Sector 77 is a fast-developing locality of NCR that has drastically witnessed rapid development in the last few years. Moreover, with the commencement of the new Aqua metro line, the locality prices have been appreciated and the connectivity has further improved. The project also comes to Adjoining Noida Authority Sports City on one side and the Authority Golf course and Commercial Hub on the other side. This is probably the right time to invest in this project if you want to reap benefits in the long term. Moreover, since the locality is in its development phase, the property rates are not that high compared to the other developed localities of NCR.  

The Developer holds a good soundtrack record in terms of construction quality and timely delivery and has also successfully delivered several residential and commercial projects across India. 

Book Site Visit For Express Zenith  – Call 8929999246

Website – https://www.express-zenith.in/

Urbtech Hilston Sector 79 Noida - Sports City Noida

Urbtech Hilston is a residential project featuring 2BHK and 3BHK apartments nestled in sector 79 Noida. Urbtech Hilston sector 79 Noida, has beautifully designed and well-structured buildings sprawling over 6 acres of land. The project boasts of luxurious amenities that include a swimming pool, kid’s play area, cricket stadium, health center, and 9 hole golf course. Every unit is constructed and designed here on eco-friendly concept thereby reducing cost. The project has lush green surroundings comprising of landscaped gardens and playgrounds for elders and kids, where one can rejuvenate oneself during leisure time. If you want to find out the project price and other related details, then you can go through Urbtech Hilston price list, floor plan and brochure to get an insight into the project. The airy balconies and the double heightened lobbies allow easy cross ventilation across the rooms. Every unit here is spaciously and aesthetically designed for the utmost comfort of the residence. Sector 79 is developing at a fast pace with the presence of residential projects, well-structured roads, good social infrastructure and excellent road connectivity that makes it a preferred locality in Noida. 

This project is strategically located in proximity to Noida Expressway and is easily accessible by a 45-meter-wide road. Noida Expressway has the presence of prominent schools, universities and educational institutes and various other civic utilities like hospitals, health centers, business, and IT hubs. 

Urbtech Hilston is well connected to prominent localities of Noida that include Knowledge Park II & III, DND Expressway, Pari Chowk. Another USP of this project is its proximity to Aqua Line metro station that will be a bliss for those who plan to reside in this project as it saves traveling time of the daily commuters who have their offices located in and around Greater Noida. Furthermore, you can easily get private cabs, auto-rickshaws and various other transports for commutation to the neighboring localities. This sector stands high on connectivity and social infrastructure that makes it a tempting prospect for the property seekers.

Urbtech India is a growing real estate company, that has an excellent presence in NCR and has been in the real estate industry for the last 7.5 years. The builder has successfully delivered residential projects and is also coming up with new projects that are expected to be completed soon. So far the builder holds a good reputation in the market for the successful completion and timely delivery of projects. 

Book Site Visit For Urbtech Hilston  – Call 8929999246

Website – https://www.urbtech-hilston.in/

Migsun Migente High Street Mall in Raj Nagar Extension, Ghaziabad

Migsun Migente is a new commercial project nestled at NH 58, Raj Nagar Extension constructed by Migsun Group, which is a renowned developer in India. Every shop in Migsun Migente is meticulously designed which is opened from three sides thus making them spacious enough with ample walkable space with contemporary amenities. Migsun Migente floor plan and price list comprise of retail shops varying in price and sizes. 

                                   

Migsun Migente is a high street mall in Raj Nagar Extension, Ghaziabad which is first of its kind mixed-use development project in Raj Nagar Extension complemented with popular fashion brands to keep you in style. This is a complete entertainment package featuring gaming zones, multiplexes and high-end restaurants. Migsun Migente Mall also encompasses an array of leisure activities to keep you and your family entertained especially on weekends. This commercial project is also loaded with entertainment options for kids and families in a booming locality like Raj Nagar Extension.  

                                 

This commercial establishment is the perfect amalgamation of commercial shops, retail spaces, dining spaces and multiplexes with kids’ zone and tech zone. Surrounded by over 1,00,000 families, this commercial space guarantees to offer you high footfall. This is the best entertainment, dining and retail experience in Raj Nagar Extension, which will be a boon for the people who otherwise had to travel to Delhi for shopping or parties. This one-stop shopping destination is the ultimate entertainment zone where you can rejuvenate yourself from the hustle and bustle of city life. Migsun Migente is a project by the builder Migsun Group who is a leading real estate developer in NCR and is also coming up with residential and commercial projects in Noida Extension and Raj Nagar Extension. Migsun Builder is offering projects under the PMAY scheme to promote affordable housing. 

This project is strategically located in Raj Nagar Extension on the Delhi-Meerut Road (NH-58) in Ghaziabad. This is a rapidly developing locality with a plethora of social amenities that include reputable schools, hospitals and retail stores. Raj Nagar Extension is an end-user market due to the availability of prominent residential projects and developed physical infrastructure. If you plan to invest here in the residential project you can expect a good rental income as the area is surrounded by many educational institutes. Moreover, due to the presence of around 1,00,000 families already residing in the vicinity investing in a commercial project will turn out to be a lucrative investment for you.  

Website - https://www.migsun-migente-ghaziabad.in/

For more info please contact us @ +91-8929999246

Rise Resort Residences - The key to your Happy Nest

Experience a ravishing and exotic lifestyle with the Rise Resort Residences nestled in Techzone 4, Greater Noida West.  Rise resort is offering luxury villas?

At the Rise Resort Residence, the end user will get an opportunity to experience a lifestyle of living in a resort . The plan accommodates for 4 BHK, 5 BHK, 6 BHK villas and only provides for a minimum of 7-8 villas per acre of 100 acres of sprawl.
There is a powerhouse of sports facilities with the 13 centralized AC and 9 outdoor sports courts like cricket stadium & academy, tennis centre, basketball court, golf course, etc

There is a powerhouse of sports facilities with the 13 centralized AC and 9 outdoor sports courts like cricket stadium & academy, tennis centre, basketball court, golf course, etc. The rise resort residence also has a large clubhouse with temperature regulated swimming pool & 2-4 personal car parking area, other than gymnasium, yoga and meditation center.

The rise resort residence Greater Noida, also accommodate jogging track, forest walk, and buggy path outside the villas. The residents may enjoy their personalized masseur for spa service, golf cart services, chef and gardener just a phone call away within the villa itself. Moreover, the project has a personal party hall, a creative loft at the terrace to explore your creativities like painting, dancing, music etc. Furthermore, the rise resort residences project also features a 180-degree airy view for all its villas giving a pollution free environment to its residents.

Rise Resort Residences floor plan is configured in a manner to provide for seven types of villas with a carpet area of approx. 3000 to 8200 sq ft.. Moreover, the project also enjoys a standard locational advantage, that is it's near to sector-79 Noida, connected with an under-construction loop road, just a few minutes away from the proposed metro station, seamless connectivity from NH-24, Ghaziabad, and Noida. Many social amenities are in close vicinity like schools, colleges, hospitals, malls etc.

After all, these elite and exclusive amenities and preferences, the rise resort residences price list is very moderate, starting from Rs 5000/ sq ft with a convenient payment plan.

Rise Resort Residences Greater Noida would be the best nest for you to pursue a smooth and luxurious lifestyle and transfer this great legacy to your loved ones.

Website - www.wealth-clinic.com/project/detail/rise-resort-residences

For more info please contact us @ +91 8929999246