Grasp the myriad implications for your home purchase
A look at how RERA’S implementation has affected various stakeholder segments from builders to buyers
Accordingly, the ‘Pradhan Mantri Awas Yojana’ or the ‘Housing for All 2022’ scheme that was announced in June 2015 is a strident move towards providing affordable housing for the urban poor. At the same time, such schemes and Article 21 of the Indian Constitution are rendered futile or even unconstitutional if they are exploited for commercial gains.
Lucrative investment For many buyers, houses are more than homes. These real estate purchases are regarded as lucrative investment tools. A clear distinction must be made about the purpose of the real estate investment, and duties and surcharges levied accordingly to prevent such misuse.
For most home buyers, two properties will suffice their basic needs. If any buyer has already purchased two residential properties, the third purchase must be treated as a commercial property and stamp duty levied accordingly. This will ensure that the government’s measures to provide quality housing for all benefit their intended recipients more effectively.