Budget Expectation from Real Estate Developers

New Delhi, January 31, 2017

Pankaj Bansal, Director M3M Group

“Budget 2017 will be keenly watched for varied reasons. The overall economic conditions at present are sluggish and needs a booster dose of tax incentives to drive economy back on track. People have lot of expectation from current government and timely rationalization measures will encourage people to adopt digitization, declare higher income and move towards cashless and transparent economy. From the Real Estate perspective, a tax-friendly budget, an increased capital base complemented by recently announced interest rate cuts means growth as it will trigger consumption demand in a big way. This high purchasing power will result in people opting for real estate as an avenue for returns, as interest rates on deposits are expected to decrease thus making them less lucrative.”

Vineet Taing, President, Vatika Business Centre

‘ The 2017 budget should bring in large benefits to the real estate industry. The roadmap of implementation of the GST bill can be a game changer. It is expected to lower the construction cost and in turn pass on the benefits to buyers. Tax incentives for business houses and entrepreneurs using rental space could also be an add-on.’

Manav Gopal, Head Sales and Marketing, MAPSKO.

” The next budget is likely to highlight few aspects which can auger real Estate sector. After the demonetization move, more cash flowing in banks will surely pressurize banking sector to reduce loan lending rates, further reducing rate of interest.Allocation of funds for serious infrastructure development is very likely after extra cash reserves with government.7th pay commission has already made government sector employees richer and with more money being pumped in the markets, private sector will certainly see employees growth and hence extra reserves with individuals.The government push for FDI in various sectors has historically boosted real Estate.With RERA becoming a reality, real Estate sector is likely to get industrial status and making banking loan easier for developers and hence boosting real Estate sector.”

Akash Kapoor, Director, Elan Group

“We are pinning lot of hopes on the upcoming Budget 2017, The real estate’s had a mixed response in 2016. This year we are eagerly waiting for single window clearance system so that approvals are given in a pre-defined time line moreover bringing transparency in the overall working system. Real Estate Regulatory Bill and GST are also one of the Key areas where budget needs to focus. Simplification of taxes are also expected”.

Corporate Comm India(CCI Newswire)