Expectations from the upcoming Union Budget for real estate

By Madhusudhan G., Chairman and MD, Sumadhura Group

While there are numerous expectations from the upcoming Union Budget, here is a few which we as an industry hope sees the light of day.

1) We hope the budget addresses two of the long-standing demands of the real estate developer community, namely: single-window clearance & industry status for the entire real estate sector. These steps will greatly reduce the project timelines for developers and help them procure funds at a much better rate. In the long-run it will help reduce the input cost of construction involved, thereby making the final product viable for the end consumers.

2)   As the Industry is facing severe liquidity issues, quick steps should be undertaken by the government to ramp up adequate liquidity into the system.

3) Subsuming of stamp duty in GST is another major demand of developers. It is important that government includes stamp duty in the GST purview to boost the demand for housing.

Corporate Comm India(CCI Newswire)