Budget 2019 : Delhi-Ncr industrialists having raising hope in real-estate and infrastructure
Greater noida: Delhi-Ncr industrialists having raising hope in real-estate and infrastructure. Modi goverment-2.0 presents budget 2019 on which commentary of industrialists of Delhi-Ncr showing raising hope in their business. FM presents the model of ease of housing and looking for the house for everyone in urban areas as well as rural area, which shows a positive hope for real-estate industry. In Delhi-Ncr specially Greater Noida and Gurugram having emerging culture to explore the business of infrastructure.
Few comments of Industrialists:
Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE
“The government has announced a progressive budget which will go a long way in creation of a well-balanced and empowered economy.The allocation of Rs 100 lakh crores for infrastructure development in the next five years is a move in the positive direction.On the housing front, an additional deduction of Rs 1.5 lakh has been proposed on interest paid for affordable housing loans till March 2020.Other key steps such as easing sourcing norms for single brand retail, enablers for start-ups, proposed revision of labour laws, enhancing FDI limits for sectors such as aviation, promoting skill upgradation and focusing on the improvement of foreign investor confidence will strengthen both ease of doing business and ease of living in the country.”
Mr. Madhusudhan G., Chairman and MD, Sumadhura Group
“The Union Budget successfully portrayed the government’s continued efforts to achieve ‘housing for all’ by 2022 with over 80 lakh houses being sanctioned under this initiative. issues like single window clearance and Input Tax Credits (ITC) benefits in GST weren’t addressed, multiple pro-industry reforms majorly outweigh the few misses.”
Bhairav Dalal, Partner & Leader – Real Estate Tax, PwC India
“Overall, a forward-looking Budget for the real estate sector. Laying down a roadmap for Rental Housing is a step in right direction to align with global trends of co-living spaces, given the changing demographics in the country. The increased thrust on education is likely to boost the Student Housing asset class. Aligning the affordable housing definition with GST and may lead to certain ‘under planning’ project developers to go back to the drawing board.”
Sandeep Dave, Partner, Cyril Amarchand Mangaldas.
“The new budget proposes to return the regulatory mantle over the housing finance companies from the National Housing Bank to the RBI. This proposal is expected to further strengthen the regulatory control over the HFCs ”
Abhilash Pillai, Partner, Cyril Amarchand Mangaldas.
“If the strategic sale of PSU’s is materialised, a massive land bank owned by them can be monetised. This institutional developers and global real estate players will be interested to acquire these assets sicne these land parcles would be relatively free from title issues and encumbrances “