Views on Pre Budget expectation for Real Estate 2020 | Arkade

New Delhi, January 15, 2019: “With a lot of talk about the current Indian economy, slowing GDP, Increasing the Standard Deduction with Income Slab and not Fixed slab, reduction of tax burden, restructuring of tax slabs or removing the surcharges for the middle class will help in boosting consumption.The industry hopes that the government take some initiatives to provide stimulus and promote the buying sentiment in the market for instance, a Hike of Rs 2 Lakh refund on housing loan interest rate would help increase demand for housing especially in mid-segment and affordable housing categories. Government should also look at including Input Tax Credit benefit in GST or rationalise GST on Steel and Cement. Also, providing incentives for private sector in affordable housing will help developers to get funding from NBFCs or financial institutes at lower interest rates.The Real Estate and Infrastructure is the second Largest contributor to GDP after Agriculture industry is in a need of revival and the builder community is looking forward to receiving the fillip from the government in the upcoming union budget 2020”