The real estate industry is very optimistic about the coming budget 2012 as the budget may bring a sheer relief for the affordable housing buyers.
Real estate industry generates countless jobs across its various verticals and also the sector is a major driver for economic growth so it is hoping to get an industry status.
To improve the significance of the housing sector sufficient steps were not taken in the Budget 2011-12 which in return gave very less to the developers and customers.
Shailesh Sanghvi, Director, Sanghvi Group of Companies said that,”We expect revision in tax for affordable housing projects in order to address the acute housing shortage in the country.”
The priority must be given to the banks who in return offer concessional costs to the common man and also affordable housing should be considered important .
The interest subvention of 1% on home loans could be raised from Rs 20 lakh to 30 lakh.
In addition Ajmera also said that “The budget should look forward to extending the existing benefit of Section 80 IB(10) of the IT Act for developing affordable housing as the country is still in a huge shortage of tenement.”
Government must take steps which in return would be beneficial to both developers and also buyers. Real Estate sector is hoping the best from the Budget 2012.
As per the developers, Pranab Mukherjee, must present such a Budget that should bring happiness,joy and comfort to every sector.