What is realty sector expecting from upcoming Union Budget?

Ajay Jain, Executive Director ,  Centrum Capital

1. Offer financial protection from project delays to home buyers & tax benefit on interest payment from date of purchase instead of date of possession.

2. Provide more tax deduction limit on housing. The current limit of Rs 2 lakh is insignificant given the ticket sizes in cities like Mumbai, where most houses are priced at Rs 1 crore and above

3. Raise house rent deduction limit further & also to extend benefit to self- employed persons.

4. Make additional allocation for infrastructure development in peripheral areas of metros. Without this, it would be difficult to provide affordable housing in the cities.

5. Single window clearance: single window clearance to project will save lot time and money for developers & end customers.

6. Fast implementation of Real Estate Regulatory Bill: it will not only protect the consumer but also encourage the individual buyer to invest in the real estate market. Hence, speed up implementation of RERA in each state.

7. To remove policy constraint for REIT implementation. largely tax hurdle.

8. Clarity on GST and its smooth implementation.

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