Feb 15 2017 | Budget Talk

BUDGET REACTION | Srinivasan Gopalan,Group CEO, Ozone Group

“Overall I feel that this is a positive budget for housing and rural development. Affordable housing is set to have a huge advantage, with it being given infrastructure status. This effectively means access to other benefits that come with infrastructure status including easier availability of loans and investments from insurance companies, who incidentally are mandated to make 25% investment in the infrastructure segment. There will also be the multiplier effect on allied industries including steel and cement which will consequently prove to be a boost for the real estate sector. The decrease in the income tax percentage from 10% to 5%, for individual tax payers upto Rs. 5 lakhs per annum, is seen as welcome benefit to the middle class. This will increase the disposable income and increase the spending power. This combined with attractive housing loan interests rate will have a positive impact on Real Estate sector. I was hoping for a single window clearances for new projects and a reduction in stamp duties, which would have lent further impetus to the ailing Real Estate sector. There is no mention of this in the budget.”

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