Investment trade body Asia-Pacific Real Estate Association (APREA) has approached the Reserve Bank of India to allow overseas funds to invest in debt securities issued by Real Estate Investment Trusts (REITs) and Infrastructure investment trusts (InvITs).

It is a thoughtful Budget, which has taken into account realities of global and Indian conditions. The focus on rural economy will help rekindle demand in rural India

We would like to congratulate the Finance Minister in presenting a budget that promises economic growth through digitization, rural and skill development and heavy expenditure on infrastructure.

Union Budget 2016-17 is a mixed bag for the real estate sector. We are pleased to see that the government has stuck to the 3.5 per cent fiscal target as this will give head room for the reduction in interest rates

The budget has brought relief to the housing sector; however, overall expectations of the realty sector were high which have not been met.

The approval couldn’t have come at a better time keeping in mind the prevailing paucity of funds coupled with an economy that is on the verge of reaching the takeoff stage.

Anil Kothuri, President & Head, Retail Finance, Edelweiss - Budget provides thrust to Housing and Infrastructure While it is a placeholder till a full budget is presented in February next year, the budget establishes the intent of the government to kickstart the economy and lays down the foundation for its economic agenda

These include the development of satellite cities, incentives for REITs, an increase in allocation for Rural Housing to the NHB and an increase in the tax exemption for interest paid on home loans.

The REITS platform provides an attractive option to exit some investments and will give developers a new avenue to raise funds and conduct development activities in the country.