Governments decision for 100% property tax waiver on 500 sq ft

By Mr Arvind Nanadan , Executive Director of Research at Knight Frank India.

” The decision is a good move which can boost property buying decisions. The outflows for houses with smaller configuration such as 1 bhk, 1.5 bhk or in some cases even 2 bhk will come down. This will also help existing owners keep their expenses towards the housing in check. In Mumbai, property prices are high, leading to higher EMI on bank loans than other locations of India. This decision will ease the burden of monthly outflow for homeowners. The biggest challenge for the developers in the last few years has been to bring the real demand back to the market. This decision would also support Government’s initiative to provide ‘Housing for All by 2022’.”

Corporate Comm India (CCI Newswire)