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A lot of developers will be selling unsold units to their entities but this time, instead of paying 15%, they will be paying 25%.
While it is a good move, I would have loved if the government had also increased the qualifying certificate extension quantum as well - perhaps 6% more for each tranche.
The problem is that the developers who are bidding up these properties are mainly from Asian Economies who are currently doing their own forms of monetary easing. So it is better to hit them hard so that when their central banks tighten up, we will not be hit by the contagion.
While it is a good move, I would have loved if the government had also increased the qualifying certificate extension quantum as well - perhaps 6% more for each tranche.
The problem is that the developers who are bidding up these properties are mainly from Asian Economies who are currently doing their own forms of monetary easing. So it is better to hit them hard so that when their central banks tighten up, we will not be hit by the contagion.