The monetary
authorities have already embarked on the right path by taking steps to increase
liquidity in the system by reducing the CRR (Cash Reserve Ratio) as well as
repo rates and bank lending rates.
Low Cost Housing and
ECB..!
This can boost investment
volumes & general growth. What the real estate sector needs from the
upcoming Budget 2013 - 14 is increased provisions for external
commercial borrowings (ECBs) for
low-cost housing, tangible income tax relief for individuals, and a greater
investment in infrastructure.
An amplification of
sops for loans low cost housing would have a significant bearing on the Pune
real estate market.
Unlike in
neighbouring Mumbai, budget housing is still a very real concept in this Pune
city.
Incentivizing the
development & purchase of affordable housing can make a big difference
here.
 |
Mr. Sanjay Bajaj |
Increased
infrastructure allocations would help the property markets in Pune’s peripheral
areas to develop faster, thereby providing more low-cost options to home
buyers.
Individual Income
Tax.!
Relief in terms of
individual income tax also has notable implications for a city like Pune.
Buying a house is
still the highest on every Punekar’s priority list, as is evidenced by the
excellent performance of Pune’s residential market in 2012.
Increased spending
power will have a direct effect on the Pune city’s residential property market
by fuelling demand for & purchase of
houses. This will lead to more supply, which in turn can help in keeping prices
rational.
About the author..
Mr.
Sanjay Bajaj is Managing Director (Pune) at Jones Lang LaSalle India
Reach at +91 20 4019
6100, sanjay.bajaj@ap.jll.com
Media Contact..!
Mr. Arun Chitnis,
Assistant Vice President, Marketing
Jones Lang Lasalle
India, Level 6, Amar Avinash Corporate Plaza
Bund Garden Road,
Pune - 411001.
Tel: (020) 30930441
Fax: (020) 40196101, Mob: 9322738464,
9657129999
Blog:
www.joneslanglasalleblog.com/realestatecompass
Website: www.joneslanglasalle.co.in
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