GOOD NEWS ABOUT BUYING NEW HOME

Good day is coming for home buyers. Once the apartment is ready, the government will make it mandatory to sell it within a year.

According to the sources, if the builder does not sell flat in one year of the occupancy certificate (OC), he will have to pay 10% of the total value to the Acquisition Department as tax.

Currently 4.5 lakh flats are unskilled in the country and the builders will now be required to sell the flats sooner. It is believed that the price of flat prices will still be reduced.

Another expert said that this step by the government's builders is in trouble, but this is a good news for home buyers. Because the builder will no longer be able to sell the project anyway. Thus, property prices may fall in the next one to two years.

The Government is aiming to reduce the cost of flats for those unable to purchase households behind this step to realize the dream of this. Builder side sells flats in the hope of higher prices and on the other hand buyers avoid purchasing them due to high prices. This is because of the increase in the number of non-sold flats.

Sources further said that the builder will have to pay 30% of the rental value for the flat not sold. When the flats do not sell for a long time, they will have to pay 10 percent of their total pricing.