Real Estate Industry: India Budget 2019 Reactions
The interim budget proves to be positive for the affordable real estate market. The benefits under Section 80-IBA of the Income Tax Act is being extended for one more year to the housing projects approved till 31st March 2020 for making more homes available under affordable housing. This will be a major relief for both the buyers and developers like us. However, we are waiting for the decision of the GST committee.
Mr.Ramesh Sanghvi, CMD of Sanghvi Parrsssva group of companies
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The interim budget is a boon to the Indian middle-class segment. The initiatives mentioned in this budget is very encouraging for the affordable housing market. Now more and more developers will show interest in the affordable housing segment, in turn, benefitting the buyers. We are hoping for the GST committee to come up with a GST rate that would be beneficial for buyers which will help the real estate sector to boost.
Mr. Punit Agarwal, C.E.O, Nirvana Realty
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The interim budget has provided relief to affordable house developers. The announcement made by the ministry of finance about the GST rate reduction proposal has encouraged buyers to invest in the real estate sector helping in strengthen the market.
Mr. Amit Haware, CEO and joint MD Haware Properties
