Things to Consider Before Buying a House in India

November 16, 2023 in Property Guide

Artistic ImpressionThings to Consider Before Buying a House in India

Decisions give you quite a hard time. Taking the correct decision, even after considering a lot of strategies and analysis could result in a setback and at the same time, certain decisions taken at the spur of the moment could turn out to be successful. So, if you are yet to invest in real estate in 2018, you are at the right place. Let's understand some of the most promising things to remember before purchasing a home in 2018 that will help you achieve your property investment goals and give you major returns with minor costs involved.

Important Guidelines

  • Real Estate Regulation and Development Act (RERA) has definitely made a positive impact on the real estate market.
  • It has brought about a proper regulation in this market, which was earlier considered unregulated.
  • This promotes transparency and credibility of the industry. This act majorly governs the fact that all the money invested is put into proper use and the property is delivered at the end of the estimated period.

Goods and Service Tax

  • Goods and Service Tax (GST) has been one of the major things that have determined the progress of this industry. With a higher slab rate in the earlier period, after the introduction of GST, there are higher chances of the eradication of dual taxation.
  • GST, being the major tax reform after the post-independence period, has been reduced to a 12 % tax rate on under-construction projects.
  • After this implementation, it is quite noticeable that the flats in Ahmedabad, which are considered to be the one-stop destination of real estate properties, have been subjected to reduced tax compliance.
  • For those looking to acquire Flats in Gurgaon, they are undergoing a similar scenario.

Aadhar Linkage

  • Aadhar card linkage has been a major reforming step for the Indian economy too, with regards to black money.
  • With the property transactions involving Aadhar card linkage, benami property can be tracked, and the land records could be made transparent.
  • More technological infrastructure in Indian properties would be a lucrative reason for investing in this industry.
  • For instance, Apartments in Ahmedabad are mostly surrounded by growing and developing infrastructure. Therefore, this place has a higher probability of being considered for investment in the property industry.
  • Adani realty in Ahmedabad makes sure to provide its customers with the best consultancy solutions for the real estate market.
  • There's nothing more exciting than seeing an apartment constructed as per your investment plans for a higher return.

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