Echoes: Union Budget and Real Estate

With Budget 2009 concluded and with little respite given to the real estate sector, we ask how it may affect the sector in the future

By Ubaid Parkar


Dharmesh Jain, CMD, Nirmal Lifestyles
There were quite a few issues that were raised. We are happy with the decisions taken on the infrastructure part. We will try and push and see what we can obtain from the Government in the coming months. The interest rates limit could have been looked at. We were also hoping for Section 80 IB to be considered. As an overall perspective, there should have more emphasis on the Real Estate sector really.

Sonesh Dedhia, Director, Dedhia Group
The Real Estate sector was overlooked I believe. There was nothing special in the budget for us. We were focused on many parameters like the rate of interest on capital, income tax benefits, reduction of excise duty on steel and cement. The infrastructure development is definitely important and we hope to capitalize on that. It would most definitely help but general expectations for the real estate sector were not met.

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