With higher rates of service tax and excise duties your dream home may now cost more. Thanks to Union Budget 2012. The Property in Delhi would be dearer for middle-income group. Similarly properties in Ghaziabad may cost nearly 20% more, internal committee of the board has recommended a raise of 5%-25% in the land cost in various schemes across Uttar Pradesh.
The hike in service tax and excise duties, State government agency increasing land cost will lead to an increase of 10%-16%. But for areas around Delhi, the rise could be more, sources said.
The latest report from CRISIL Research states that new home prices in Mumbai are unlikely to decline in 2012. CRISIL Research expects a 7-9 per cent increase in costs of key inputs in 2012, following a 25 per cent increase in these costs the year before. Recent amendments in the DCR will increase costs for builders further by 15 per cent, on an average.
Source: www.commonfloor.com/stories/