Based on the close evaluation of the budget we can say that some of the tax standard rates have been hiked. Also the cement and other raw materials like plywood, ceramic tiles and granite price is increasing day by day which can cause the construction industry very badly.

In the 2019 Budget, there is a major change in the taxation of the luxury residential area. Previously, all residential construction greater than 3000 Sqft has imposed a tax amount of Rs.4000. This taxation has its own fault as everyone can see that whether it is 3100 Sqft or 5000 Sqft, all are required to pay the same amount. This has been now changed and the state government has imposed different slabs based on the square feet area.

Those are listed below:

Primarily the Kerala Budget 2019 has been focused on Nava Kerala Nirmithi but ironically hiking the price of basic raw materials like cement would largely impact this project as well as the other construction projects.

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Kerala is experiencing a significant change in its weather and economic position. The scientists have reported adrift in weather condition in god’s own country after the great flood. As a part of the global and national economy, any changes in the economic conditions both in domestic and international will indirectly affect the economy of Kerala. From tech giants to SME’s, Kerala has a wide variety of business and these businesses have their shares on the economic conditions of Kerala.

Civil Construction field is also one of the key factors of our economic growth. After the great flood one can see a drastic slowdown in the construction field which directly influenced lots of workgroups and small medium enterprises. Prior to the flood, the economy is crawling its way back to normal due to the effect of demonetization. Especially in the construction field where day to day works relay on paper currencies, the demonetization has impacted a great slap on the income of the workforce. One can easily say that the common people have been damaged on a great scale by these natural and manmade “Disasters”.

As every year passes, we invite the new year with a lot of hope and plans in our mind and 2019 is not an exception. So the question is:

Does 2019 is the best year for constructing your dream home?

Well, the answer depends on a lot of factors. Some of them are listed below:

1. Economic Reforms in the center as well as the state governments
2. The after effect of demonetization
3. The introduction of GST
4. The aftermath of great flood and weather change
5. The growing NPA’s in the Banking Sector
6. Introduction of new schemes under PM’s Office

And there is many more factors and key influencer which directly and indirectly contribute their share regarding this topic.

To a certain extent, anyone can think that one should wait until the economy is on track. The effect of the demonetization should only be overcome with great economic reforms and the common man should wait until these reforms take effect in our economy.

But are you sure that there is going to be a great reform in the economic status of our country which is capable of taping all the irregularities in our economy and leading it to the best performance if that so how long does it take effect in our life?

The banking sector is also greatly impacted due to the ever-accumulating NPA’s both from private and public sector companies in our country. But now the RBI has come across various norms and regulation to curb all these accounts. Our banking industry has now learned a lot from this NPA or being forced to do so. Now all the banks whether it is public sector or private sector are moving forward with great caution and trying their best to regain the momentum.

During the tenure of the new government, we have witnessed the introduction of new schemes such as Pradhan Mantri Awas Yojana where the eligible groups can avail concession in interest up to a certain amount which is a huge relief for common people. Also, the local government is providing funds to the eligible individuals and families as part of creating a better environment for living and as a relief to the flood victims.

Almost all major cities and land have been hit by the great flood exposing the weak area. Some of the places where largely hit due to improper intervention on buildings and structures.

So in general 2019 is not at all a bad year for creating your dream home. By using the governmental service effectively and availing the service of a good bank anyone can build their dream home this year. Besides the construction field is well equipped and made necessary changes to the techniques and designs.

RK Builders and Developers as top construction companies in Thrissur has been in the industry for more than 10 years and our designing and architectural teams have already studied these effects and made adjustments to their strategy.

Our integration with leading banks will also help you to get the financial help needed as fast as they could. Besides being in the industry for more than 10 years we can easily notify you about the changes and new information in the construction industry.

Give us a call or Quote to know more about our services.

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