Reaction of Union Budget 2020 for Real Estate

Honeyy Katiyal, Founder of Investors Clinic

“Allocation of 103 lakh crore for infrastructure is a welcome and much needed move by the government. Infusion of funds into infrastructure will surely boost employment in the country which is required to accelerate today’s economy. Covering 6500 projects across 18 states and union territories will also help in improving housing real estate sector.”

Investment of INR 16 lakh crores will definitely boost up market sentiments towards affordable housing. Allocation of Rs 3.6 lakh crore towards piped water supply to households and along with the vision for five new smart cities will invariably help in building consumer faith towards affordable housing. The government needs to focus on the proper implementation and de-centralization of the funds for a holistic real estate development. Affordable housing needs exclusive attention from the government and developers today as it is one the key building blocks in today’s real estate”

Sakshee Katiyal, CEO of Home&Soul

“With the announcement of income tax reforms, the finance minister has been able to nail the important issue of negative sentiment amongst the middle class. This will help bring back the animal spirit amongst the buyers of the mid-housing segment for sure. I must say despite the drop in revenue collection the government has been able to deliver a master act.”

Sunny Katyal, Co-Founder, Investors Clinic

“Government’s announcement to extend INR 1.5 lakh tax benefit on affordable housing loans will offer relief to consumers. The date of approval of affordable housing projects for availing tax holiday on profit earned by developers by one year will help in minimizing challenges faced by the developers across the country. Increasing the transaction limit in real estate and concessions in real estate transactions will also boost affordable housing segments. Government has taken steps in the right direction to boost affordable housing in the country, we welcome the announcements and look forward towards working together for implementation of these announcements to boost housing for all.”

About Neel Achary 19308 Articles
Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.