The real estate sector sees India’s Union Budget 2018 as a balanced one with the focus on affordable housing. The mission of building smart city is another step in the right direction, say analysts.
The real estate sector sees Union Budget presented by Finance Minister Arun Jaitley as a balanced one with the focus on affordable housing.
However, some analysts say it would not have any direct impact on the sector as the expectations of concessional GST for the housing sector overall was not met.
The view of Parth Mehta, Managing Director, Paradigm Realty, was different from a majority view. He said the budget was completely skewed towards agriculture, health and education.
“Real estate was a no-show on the budget as none of the expectations of concessional GST for the housing sector overall, stamp duty regularisation to 3 % overall or change in capital gain tax window on REIT, change in income tax slabs got covered.”
On the positive side he said as the salaried class significantly contributes to the industry, the standard deduction will be a breather to the potential buyers and will endow them with higher purchasing power when it comes to real estate investment.
Conventions pertaining to digitalised transactions will also provide transparency in the ambit of Indian real estate. This will facilitate fair play for organised players and will also curb the fraudulent practices at the same time”, Mehta said.