The Impact on Real Estate of Kerala Budget 2020
The Kerala budget has come as a severe blow to the real estate sector in Kerala as the Government of Kerala has jacked up fair value of land by 10 percent while it will be 30 percent for notified areas near large scale projects. This has been done targeting more revenue from stamp duty. Real estate Industry experts observe that the decision to hike fair value is a step backward further pulling down the industry. As such the real estate sector in Kerala has been struggling for the past two years due to the employment crisis in the Middle East, Demonetisation & the recent floods. The Kerala Budget 2020 was presented by the Finance Minister of Kerala Dr Thomas Isaac in the Legislative Assembly on the 31st of January 2019. Luxurykeralaflats.com invites you to have a look at how it will impact land transactions and residential construction. Increase in Fair value of Land The Kerala Budget 2019-20 proposes a 10% incremen...