Investing in real estate is always considered as a risky decision. But, to turn this risky decision into a beneficial one, is in the hands of home buyers. Today, due to MahaRERA, new residential projects in Mumbai have become trustworthy. Hence, many people are looking forward to investing in Mumbai. To ease the process of home buying in Mumbai, we have churned out some great investment options for you.
The Goods and Services Tax (GST) Bill was approved in the Lok Sabha on March 29, 2017 with four supplementary legislations - The Central GST Bill, 2017; The Integrated GST Bill, 2017; The GST (Compensation to States) Bill, 2017; and The Union Territory GST Bill, 2017. The GST will subsume central excise, service tax, VAT and other local levies to create a uniform market. GST is expected to boost GDP growth by about 2 per cent and check tax evasion. The states will have to pass their State GST or SGST law that will allow them to levy sales tax after levies like VAT are subsumed.
Investment in real estate of NRIs has grown drastically over the last couple of years. With the introduction of RERA (Real Estate Regulatory Act) and GST (Goods and Services Tax), and because of the demonetization effect there is a positive sentiment attached to the real estate companies in Mumbai currently. Real estate developers are now more transparent in their business dealings and people are placing their trust with the builders for realizing their dreams of owning a home. This can also be said in terms of NRIs as we are now seeing a growth in the number of NRI investment options in India. There are also quite a few financing options for NRI's. Here’s how NRI’s can invest in Indian real estate.
Mumbai Real Estate - An Overlook
There is no doubt now that between 2016 and 2017, Mumbai's complex real estate landscape has undergone a metamorphosis. This transformation consists in large part of the consequences of close to a decade of unorganized growth, unsystematic business practices, the influx of many low-quality 'developers' and the final tapering off, of increase in real estate prices.
An Introduction to Realty Market and Developers
Mumbai's home buyers can expect, over the next decade, a smaller number of high quality developers, a more gradual increase in property prices, and a more consistent quality in product and buying process.