Jitesh Lalwani, President, HomeSync Real Estate Advisory on the recent union budget
Looking at the medium and long-term goal for the overall economy, it seems a desirable budget
”Finance Minister Nirmala Sitharaman presented a growth-oriented Budget by hosting several measures to encourage leading sectors of the economy. Looking at the medium and long-term goal for the overall economy, it seems a desirable budget where the efforts will be made to increase private capital in the infrastructure sector.
The announcement of 25000 kms of new highways along with Gati Shakti Masterplan for Expressways will pull forward the economy and will lead to more jobs and opportunities for the youth. In a boost to affordable housing, FM announced Rs 48,000 crore towards the Affordable Housing Scheme (PMAY) and will build 80 lakh homes for identified eligible beneficiaries, and identify eligible beneficiaries for 60,000 houses under PMAY in rural and urban areas that will directly support the Government’s mission of Housing For All.
Although, the real estate sector was further eyeing sops such as relaxation in GST on under-construction properties, a reduction of GST on key raw materials, a higher interest exemption for homebuyers and above all, the long-awaited demand of granting ‘infra’ status to the sector; there were a few big announcements which will augur growth across the major sectors of the country.”
