Budget 2013 was expected to be a real estate friendly budget due to many reasons. Crushing the hopes of builders and realty players the Budget 2013 remain tepid to the sector.
Budget 2013 holds nothing special to the realty sector
The first time home buyers will be benefitting from this budget as the Budget 2013 has proposed Rs.1 lakh additional deduction to them. As per the proposal of the budget the home buyers will be given Rs.1 Lakh deduction for the loans up to Rs.25 lakh and Rs.1.5 lakh for the loans above Rs.25 lakh.
By raising the tax deduction limit by Rs.1 lakh, finance minister P Chidambaram aims to promote the housing sector.
Anuj Puri, Chairman Jones Lang LaSalle India, said that the Budget 2013 is not realistic as it was expected to be. In the opinion of Mr. Puri though the Budget 2013 as an overall level is a moderate one it was not so useful to the real estate sector.