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Cosmos is a progressive, forward-looking company that brings to you an array of services, bound to make your life an occasion to rejoice.

We, at Cosmos, are engaged in an array of activities bound together by a common philosophy and goal. 

Our integrated services include Construction, Interiors Design and Event Managements.


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JImpact of Union Budget 2013-14 on Real Estate Sector

Impact of Union Budget 2013-14 on Real Estate Sector

Though Finance minister announced a number of sops for affordable housing sector in the Union Budget for 2013-14, he increased the tax burden for the affluent class in acquiring a house. Experts and developers feel that these measures will increase the cost of houses in the metro cities. In order to promote home ownership, the finance minister allowed an additional deduction of interest up to Rs 1,00,000/- from the taxable income if a person buys his first home, by taking a loan of up to Rs 25 lakh from a bank. The value of the property should not exceed Rs 40 lakh, and should be his first house.

This additional deduction of Rs 1 lakh will reduce the interest burden substantially. This facility will remain applicable for financial year 2013-14 only. The rate of abatement on 2000 square feet plus apartments or houses costing Rs 1 crore and above has been reduced by 5 percent to 70 percent. This translates into an increase in service tax outflow, making luxury homes more expensive. Moreover, for homes costing above Rs 50 lakh, tax deducted at source (TDS) of 1 percent will be charged on the transfer of immovable properties.