Budget Expectations Quote from Mr. Avneesh Sood, Director, EROS Group

New Delhi, June 27, 2019:“The real estate industry is one of the foremost contributors to the GDP growth and hence it can assist the govt in determining the shortfall in employment generation, it is likely that the upcoming budget will help the industry. Furthermore, the usual demand for single-window clearance and industry position for real estate projects, which should preferably be incorporated in the budget are more tax break to homebuyers as well as investors. Both can help out the sector pull through from its liquidity woes to a large extent. Also from the builder viewpoint, the funding problem needs serious attention.

While the provisional budget in February did try to encourage investors and buyers, the upcoming budget should contemplate the introduction of housing bonds for the developer; provide low-interest rate construction funds, at least for affordable housing projects, for middle and economic class. Special status should be granted to HFCs to bring them at par with the banking sector for their sustained viability in the market to invest in the sector. They should be allowed to raise funds so that they can offer incentives in the form of lower interest rate to the borrowers”.

Corporate Comm India(CCI Newswire)