Budget 2018 for real estate focussed on the persons belonging to the poor & middle class. These are: 1. Reduced interest rates on the housing schemes. 2. There will be a dedicated affordable housing fund. The Central Government wants to envision "Housing for all by 2022" by making an appropriate policy which helps to achieve the goal. The Government Housing schemes for the poor and the middle class will make the private real estate players across the country to develop more projects in the affordable segment. Thus, there will be a fewer number of ultra-luxury & luxury projects coming years down the line in the top-notch cities of India. Real estate sector should work in the model of Public-Private Partnership for developing affordable housing projects for people under PMAY-CLSS schemes and various other housing schemes made by the Government to fulfil its mission of Housing for all by 2022. The government should come up with more flexible tax subsidy schemes to attract private real estate players for its housing projects. Already there is a Public-Private partnership model for the construction of highways in India. The Budget 2018 highlighted that a sum of Rs 50 lakh crore needed for World class infrastructure in India. The Budget 2018 also highlighted the Smart City programmes for the selected 99 cites in India & has allocated a sum of Rs 2.09 lakh for it, which will give more opportunities to the private real estate players in the coming years down the line. Budget 2018 for Real Estate Sector.
Courtesy/By: Rakesh G.
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02 Feb 2018
