Budget Reaction from Mr. Arjunpreet Singh Sahni, Executive Director, Solitaire Group

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New Delhi, July 06, 2019: “Budget 2019 has turned out to be a morale booster for all the stakeholders of the real estate industry with its intent to continue the ongoing infrastructure restructuring process that will give the much required boost to the development of housing projects across the country. With its provision of PSU bank of Rs 70000 crore to improve financing, the industry is expected to come out of the ongoing liquidity crisis situation. The government’s commitment to increase Foreign Portfolio Investors (FPI) in REITs is another important announcement made in this budget which will also spur the fund flow in the industry. In view of rapid urbanisation, the government’s renewed focus on achieving the objective of Pradhan Mantri Awas Yojana (Urban) is also an important step taken forward in this budget.  The additional tax deduction on home loans offered in this budget is also a commendable announcement that will improve sales in affordable housing segment and help bring the industry back on high growth trajectory.”

Corporate Comm India (CCI Newswire)