Budget 2020: A positive outlook towards real estate sector By Mr. Madhusudhan G., Chairman and MD, Sumadhura Group

New Delhi, February 02, 2020: We view this budget in positive light. The budget has provided fresh stimulus to the ‘Housing for All’ vision by extending additional corpus of INR 1.5 lakh tax benefit on interest paid on affordable housing loans by one year. Affordable housing projects are given a deduction which adds to a concession for real estate transactions.

The long awaiting single-window clearance and industry status for real estate are not addressed, however the developers expects the National Logistics Policy to be released by the govt soon, to help enable single-window clearance for projects.

The budget has also addressed the liquidity issue by informing that the Govt. will offer support by guaranteeing securities floated to enable liquidity support to NBFCs. A mechanism to provide liquidity to NBFCs and housing finance companies was also proposed.

Corporate Comm India(CCI Newswire)