Realty savings from hybrid, remote work 1/3rd of markets’ estimates: Report
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While evaluating emerging workplace trends and the projected impact of Covid-induced strategies on achievable real estate savings, CBRE found that achievable medium-term real estate savings attributable to hybrid or remote working could be one-third of the market estimates.
Agencies
CBRE is of the view that from a workplace strategy perspective, the relevance of physical space will continue, however, the intended purpose of office is likely to be gradually redefined over a period of time; the findings said.
Cost savings from adoption of hybrid or remote working models are unlikely to match the expectation of companies and would offer only one-third estimated benefits, showed a CBRE South Asia report.
The government s decision to extend additional tax deduction of Rs 1.5 lakh on home loan interest till March 2022 and tax holidays on affordable housing projects in the Budget will boost demand for residential properties, according to real estate developers and consultants. However, builders were disappointed as the finance minister did not consider many demands, including industry/infrastructure status, single-window approval for projects, input tax credit on GST and extra allocation in stress fund. The chairman of realtors apex body CREDAI, Jaxay Shah, said this will boost overall demand for affordable housing, the fastest growing segment for the real estate sector. The proposed amendments to allow debt funding through REITs would help in attracting more investments in real estate sector, CREDAI President Satish Magar said, adding that the proposal to make dividend payments to REIT exempt from TDS would encourage retail investors to explore investment opportunities in REITs
Budget 2021: Impetus to affordable housing welcome, more needs to be done, say realtors
Even as government announces measures to generate demand for affordable housing among first time buyers, real estate sector demands urgent attention on GST issue, liquidity for the industry
Rukmini Rao | February 1, 2021 | Updated 22:42 IST
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With the government s aim to provide affordable housing to the urban poor by 2022, Finance Minister Nirmala Sitharaman in this year s Budget has extended the eligibility for availing an additional deduction of interest. The current exemption of additional interest of up to Rs 1.5 lakh for loan taken to purchase an affordable house has been extended by one more year. This means the additional deduction of Rs 1.5 lakh will also be applicable to all housing loans taken up till March 31, 2022, for the purchase of an affordable house. Also in order to improve the supply of affordable houses, realty players can avail the tax holiday for