Overall the direction that the budget has taken is positive with several macro factors making way for a better economic regime. However, with three consecutive bad years for real estate that left developers and other stakeholders gasping for fresh air, the expectations were only building up by the minute for the last couple of months.
Unfortunately, the budget has not given them anything to cheer about. Although the initial part of the budget did mention housing for all, it did not have a game-plan attached to it. Additionally, no sops or exemptions for homebuyers have been addressed. There is little on easing liquidity for real estate with only partial relief to REITs. All in all, there is practically no silver lining for stakeholders. With plugging of loopholes in the Benami properties act, stakeholders who used to rely upon it to make money will have a lot to worry about. An already comatose industry will have to wait a bit longer for succor.
