Budget 2017 – 18: overall Budget has had good incentives for the real estate
Mr. Vidip Jatia,
Director, Belmac on Union Budget 17-18 and impact on real estate sector,
"The overall
Budget has had good incentives for the real estate sector. Increase in
government spending on infrastructure to 65,000 cr will boost real estate space
in metro and rural india. 2,000 km of coastal roads will decongest metros and
improve connectivity. The focus of our government on infrastructure will give a
boost to the realty space in India.
The Budget 2017 has
been a boost for the real estate space. Our Hon. Finance Minister Mr. Arun
Jaitley continuously emphasised on the importance of infrastructure to drive
demand in the country. The continued focus of increasing the connectivity via
new road, metro and coastal road projects will not only improve congestions in
metros but will also have a positive impact on going the periphery parts of the
metros.
Income tax reductions
from 10% to 5% for individuals earning between 2.5lakhs to 5lakhs per annum
will help in financial inclusion in the system thus increasing the demand in
the realty space. This will have a cascading impact to boost demand in the
sector. Individuals who were outside the banking system earlier will all be
included in the system thus increasing consumerism in the country.
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| Vidip Jatia, Director, Belmac |
The government is
focused on its target of Housing for all by 2022. Various incentives such as
prolonging capital gains tax for developers, income tax incentives, interest
subvention schemes, etc. by the government will help drive demand for
homes."
-by Mr. Vidip Jatia,
Director, Belmac
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