Why 2020 is the best time to buy an affordable house in Gurugram


Buying a house is not easy, especially if you’re aiming a city bubbling with MNC’s and technology. A lot of people plan to buy a house in Gurgaon but stop in the middle because of low finances, trouble in getting a home loan, price range, etc. Here are some reasons for you to buy your dream house in 2020:

RERA – Real Estate Regulation and Development Act, 2016

  • With the introduction of RERA in the real estate market transparency and accountability on both the sides – buyer and seller – has increased which has transformed the marketplace. This move has urged developers in Gurgaon to reassess their business models and complete the project within the stipulated time. This act has increased the trust of people who are looking to buy a house.

Deen Dayal Jan Awas Yojna

To cope with the challenges government of Haryana came up with Deen Dayal Jan Awas Yojna, under the centre’s assistance of Prime Minister Awas Yojana. Under the policy, people looking for a house can avail certain benefits like:

  • For making more homes affordable government has decided to extend benefits under section 80 – IBA of the Income Tax Act to projects approved till 31st March 2020.
  • Up to 100% home loans on construction and up to 80% on a plot
  • All projects under the policy are certified
  • Basic amenities like community complex, 9-meters road, etc.

Increased Tax Savings

  • Potential buyers can save tax on capital earning by owning two houses; this applies only to a taxpayer having capital gains up to 2 crores. Earlier taxpayers were permitted to invest in only one property after selling one.This benefit can be availed once in a lifetime. This move is hailed by the real estate industry.

All these surges in the policies have made houses more affordable for people who are looking to buy a house.

Under the provisions of Section 9A of the Haryana Development and Regulation of Urban Areas Act, 1975, Haryana Govt. has launched Deen Dayal Jan Awas Yojna – an Affordable Plotted Housing Policy for Low and Medium Potential Towns of Haryana. This policy is intended to encourage the development of high density plotted colonies. Haryana Govt. has specified the area parameters like Floor Area Ratio, plot area and much more for developers to construct the projects. MRG World is developing projects with a plethora of amenities gym, a community center being a few of them, and promises an impeccable blend of a healthier lifestyle and modern urban living. Located just off the Dwarka Expressway, only 15 minutes from Delhi, IGI Airport and major business hubs including Cybercity making MRG World, the most desired destination of the region.

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