Union Budget 2013-14: Developers Seeking To Build Feasible Housing

Noida, February 16, 2013: The Delhi property price of the upmarket residential areas has drop down by 20-30%, affecting the sales by lowering down the the graph. The developers are seen to offer the freebies amounting 5-8% of the property value. According to the Delhi based property broking firm IndiaHomes, over the last six months, among the 368 apartments in South Delhi about one-sixth of the them are sold out compelling the price lowered by 15-20%. With the successive increase in the property price, affordability has become major concern in the city Delhi. According to the Union Budget 2013-14 approaches, the developers have affixed their hopes for the affordable housing to be pick up in the city

From the next fiscal year, the people residing in New Delhi Municipal Council areas may end up by paying double of the property tax along with the civic body proposing 3% hike and increase in the value of property. With the divulging budget proposals for 2013-14, PK Gupta, a NDMC Commissioner announced that in the next fiscal year there will be a 3% hike in the property tax, generating an extra income of Rs 200 crore.

The extension of the elevated Barapullah road in the east Delhi will follow several environmentally tenable engineering concepts. The PWD has thus finalized an elaborated plan to model on the lines of this project. According to the Delhi Development authority officials, nearly 60% of the flats are new construction while the rest are noticed to include flats that are being allocated to the government.

For More information Visit: http://www.proptiger.com/property-in-delhi-real-estate.php

Or click on Property in Delhi