CREDAI View of Mr. Satish Magar, President, CREDAI National around announcement of `Union Budget 2020-21

New Delhi, February 02, 2020: “Budget 2020 has not been encouraging for the Indian real estate sector which needs immediate attention from the government. No sector specific measures were announced for real estate and as an industry we expected more bolder steps from the government to  revive the ailing  sector such as providing more liquidity for the sector, onetime restructuring of loans, and tax deductions on home loans to give impetus to buyer sentiment. Unfortunately none of these issues have been addressed, except providing tax holiday for one more year for to affordable housing developers and loan sanctioning- which was due for some time. Budget 2020 needed steady fiscal invigorating measures, focusing on demand creation. The only way in which this budget can boost real estate sector is by accelerating growth to 6.5% in 2020-21 from 5% at present, boosting income and thereby inducing demand for new homes.”

Corporate Comm India(CCI Newswire)