Mar 1 2016 | Budget Talk

Deepak Kapoor, President, CREDAI Western U.P

The budget has brought relief to the housing sector; however, overall expectations of the realty sector were high which have not been met. In a move to boost the housing demand, deduction of Rs 50000 has been given on a loan of up to 35 lakhs. There has been allocation of funds for infrastructure development which includes construction of road networks and setting up of 300 urban clusters. Affordable housing has been given a fair share. This would kick start the real estate in Tier 1 and Tier 2 cities along with new mushrooming areas in major cities as well. Direct Dividend Tax (DDT) is now exempt from REITS. This was very much required to make REITS efficiently functional. Much to our disappointment, Industry status and single window clearance system could have been the biggest game changing reforms for real estate sector which were not even mentioned in the budget.

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