Chairman of Anarock Property Consultants, Anuj Puri is of the view that the 2018-19 budgets were balanced but not a boon for real estate.
Joe Verghese, Managing Director of Colliers International India, says the Budget seems to be heading to have minimal direct impact on the real estate industry. This comes as a significant departure from the last three years.
Shishir Baijal, Chairman and Managing Director, Knight Frank India, is of the view that there has been a silence in the budget on stimulating mainstream real estate demand.
“The sector, grappling with the reforms-driven new order, has been bereft of any meaningful interventions that could have been achieved through the budget,” he pointed out.
Ramesh Nair, CEO and Country Head, JLL India, said that no changes in Income Tax slabs or other direct measures that influence the sector were announced. Hence, the demand and supply dynamics of real estate sector got no further intervention.
“The sector was reeling for a while; and was expecting some big ticket announcements to revive it,” he said.
“This was from the perspective that real estate greatly contributes to the three economy (by contributing 7.7 per cent to GVA), employment (15 million job creation over 5 years) and exchequer,” he said.