Budget 2018: Expectations From The Real Estate Sector

By Staff
Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    The year 2017 was marked by GST and RERA. The twin policy, besides lingering effects of demonetisation, had an adverse impact, in the short run, on real estate sales and overall economy. However, they also brought about consolidation and transparency in the sector. Budget 2018, possibly being the last full Budget before the General Elections, we are hopeful that the Budget will, after granting infrastructure status to affordable housing, will also spread this benefit to the entire real estate sector. Besides, considering the cost of homes in cities, the rebate on home loans must be increased and tax exemptions be given. On the supply side, the government must incentivise builders to undertake more projects in the affordable housing segment.

    Budget 2018: Expectations From The Real Estate Sector

    PMAY provides that if a Private developer on their own land promote the affordable housing then the allottee should get all the benefits prescribed in the scheme. However, other segments like grant to the individual houses in un-planned settlements and grants to the local bodies in upgrading the units are considered and local bodies are made to promote such projects the main area being the affordable housing which may boost the supply line in the housing market has been almost ignored so far. The resources of the vast workplace of disciplined private developers need to be better utilized by making the process liberal and free from bureaucratic complexities.

    Presently, the complete absence of the private sector from this segment is a worrying sign. The real estate creates a multiplier effect on the economy and for the economy to create jobs; the real estate sector must take the lead.

    The above article is written by Shri P.N.Misra, CMD, Paarth Infrabuild Pvt. Ltd

    Story first published: Wednesday, January 24, 2018, 15:06 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more