As per and after the positioning of the latest House Price Index (HPI) in Reserve Bank of India, the real estate home prices in India have continued to increase.

By the end of last year, the overall index had risen to 2.2%. RBI had kept a check on 10 cities and 7 out of them witnessed a rise in home prices.

House price index is used to calculate the levels of home prices across India. HPI was 234.9 in September 2016, which increased to 240.2 in December, 2016. The increase was from 60 basis points to 8.3% if we consider the all-India HPI annual growth. Although, it was lower than the value recorded in the earlier year which was 9.7%.

RBI’s HPI has also noticed an immense dissimilarity in the movement of home prices in India across various cities.

If the metro cities are considered, they have seen a rise in home prices on a Year-to-Year Basis. Although Chennai was an exception, as it saw some control in the last two quarters.

Forged rent receipts from parents and relatives have been a very common easy concept to reduce the burden of tax, since a long time now. This dismissive ignorance towards the taxation policies was neglected by the taxmen and also the employers, as they considered it a minor offence. But now, it will not be the case.

The income tax department has now taken it upon themselves to ask for proper proof from the person who wants to avail the rebate on tax on home rent. The proof should clearly show that the taxpayer is an authentic tenant who actually lives in the property concerned.

Earlier, salaried employees who received ‘house rent allowance’ were able to dodge paying tax on 60% of the amount through showing forged rent receipts.

But now, the officer concerned can officially ask the taxpayer to show a proof (for example, license agreement, electricity bill etc.) if his income is being lowered on account of house rent. This step is bound is bound to make people follow the rules and regulation. They will not get indulged in forging rent receipts under income tax.

If the taxpayer is forging rent receipts under income tax then the documents which are needed for proof will not be available to him. He may not be actually paying the rent from his pocket as he may be staying with his parents or in his ancestral home. Another case is when the person is actually an authentic tenant but he may increase the amount of rent paid in the fake receipt. This will not create an issue until the landlord receiving the rent doesn’t come under the tax net.

It still remains uncertain whether the tax officials will actually make the efforts required to interrogate the salaried employees because the concept of paying tax on home rent on only a slight portion of HRA is very common.

But, Income Tax Appellate Tribunal has made it easier for the officials by introducing technological measures for strict reporting systems.

According to the sources, BPTP, a realty developer, is planning to sell its land present on Dwarka Expressway.

The 15-acre land on Dwarka Expressway owned by BPTP Realty Developers is in talks to be sold off to Shapoorji Pallonji Real Estate for Rs.200 crore.

The proposed deal has been prepared with the term sheet for it being signed too. The buyer, Shapoorji Pallonji Real Estate, is currently evaluating the potential of the property. This proposed deal is likely to be executed in the coming few weeks.

Shapoorji Pallonji is a realty developer based in Mumbai and is planning to construct a mid-income residential project in Dwarka, of two million square feet on the proposed land. Some area of this land on Dwarka Expressway is also likely to come under the government’s policy of transport-oriented development and will benefit from it.

The construction under the Transit-Oriented Development (TOD) Zone is being encouraged by the authorities by issuing higher ration of floor area. This step will be very useful to solve the problem of land scarcity as it will allow vertical construction in this residential project in Dwarka.

With Real estate becoming a sought-after option for investors, it also assures better returns over other financial instruments including bonds and securities. This is the reason why most of people now-a-days prefer to invest in property over bank or insurance. But investing in real estate are also governed by the factors mentioned below:

Flexibility: Buying a property ensures multiple options including renting, leasing, selling etc. Chances are higher that the cost of purchased property goes up in the near future and you may chunk out huge profits on its sale. And till the time, you can dig on its rent.

Tangibility: Property is considered as one of the most profitable tangible asset if you invest in real estate segment judicially. Various factors say location, civic utilities etc also effect the quantum of profits you can derive from your purchased property.

Safe Investment: With more and more incentives provided by government to make affordable housing available to all and post-demonetization, investors have greater interest in real estate segment. Thus, investing in property is now a safer option in terms of liquidity as well to an extent.

Safer Investment: Although investing in Banks and Insurance are quite safe as it involves implied guarantee by government, investing in property is also Safe if done with due diligence. All you need to do is to focus on the proper documentation at the time of cracking deal and it will turn out safest investment which can yield highest returns.

Unparalleled benefits: Investing in property not only yields a regular returns in terms of rent and higher returns on its sale but also ensures numerous other benefits including various tax deductions as well as tax free profits. You shall also be eligible for bailouts if you can handle the mortgage.

All these factors make real estate investment more lucrative over other financial instruments. So, if you are planning to invest your hard earned money, consider these factors to make a sensible decision!

This Navratri, not merely the electronics and gadgets will witness the sales elevation but real estate sales are also expected to get boosted. Not to deny the fact, festive season is the best time to allure customers with attractive offers and schemes. And thus, the real estate developers, builders as well as brokers are proffering lucrative offers for homebuyers on purchase of the residential properties in NCR and other regions.

Various products like LED TV, iPhone, refrigerators, sofa sets, furniture etc. free on on every booking; stamp duty free; free registration fee; tax free registration and other likewise offers have been attracting homebuyers to buy home during festive season. Navratri is the festival when people pray and  goddess to fulfil their dreams. Buying a dream house is certainly one of them.

Let’s have a look at the offers that most of the renowned builders have offered :-

Offers from Mahagun GroupsMahagun Groups has offered attractive deal for homebuyers to buy dream home during the festive season. The renowned builder of NCR has offered many freebies, such as LED TV, modular kitchen, AC in every room, and furniture sets for free at booking of its apartments in Greater Noida, Crossing Republik, and Greater Noida West.

Offer By Ajnara GroupsAjnara, on the other hand, is pulling homebuyers’ attention by offering free iPhone 7 at every property booking during Navratri.  The offer is open with its Le-Garden project in Greater Noida West.

Antriksh India OffersThe builder is offering several add-on luxury stuffs to the homebuyers booking home this Navratri season. AC, Washing machine, Refrigerator, LCD TV,  4 -burner stove and microwave are few to be named amongst  freebies offered by Ajnara Groups.

Nirala World’s Great Offer

Surely, Nirala World is not to stay behind. The famous builder of Delhi-NCR is working on scheme where in homebuyers will be exempted of several duties such as Stamp Duty, Registration Fee, and Service Tax etc. Besides, over 17 products are being availed for free  with booking of home during Navratri.

RG Group’s Grand OfferSurprising other builders and homebuyers, RG Group is giving out 8gm gold coin plus ticket to Bangkok trip; and 10 gm Gold coin plus ticket to Singapore trip on every purchase of RG Group’s 2/3BHK Luxury flat in Greater Noida West Sector 16B. And the list continues with other freebies to add on the luxuries in the apartment.

Tulip InfratechKeeping in mind the auspiciousness of Navratri , Tulip Infratech is offering a discount of 10% on the cost price for all the homebuyers who want to buy homes during the festive season. They are offering this lucrative discount to homebuyers as they know people save and prefer buying homes during the festive period.

Paramount GroupParamount group, staying true to its huge reputation in the market, is offering numerous benefits to homebuyers during this festive season. They have put forward an innovative ‘12 benefits scheme’ which gives various benefits. Relief from stamp duty, guaranteed price till possession, free modular kitchen, penalty charge, if possession is delayed are some of the many benefits offered.

Ansal HousingWith its projects like Ansal Highland Park along the expressway in Dwarka and the Ansal Tower in Alwar, Ansal Housing is offering a free parking space for one vehicle along with return of 10% per annum.

Saya Group

In this festive season, saya group has come with a payment which will be customised for various homebuyers. They have also brushed aside the processing fee on home loan and the first transfer will be free.