“The Budget’s focus on improving infrastructure through PPP projects and interest free loan to States for capital expenditure, setting up an Urban Challenge Fund of Rs 1 lakh crore for rejuvenation of Indian cities will improve the real estate activity in metro and tier 2 cities by encouraging developers to invest and partake in the development.
The announcement of zero tax for income up to 12 lakh under the new tax regime will give a big boost to consumption including spurring demand for homes.
SWAMIH 2.0 with an allocation of Rs 15,000 crore is a small yet welcome move considering that the government is targeting to complete 1 lakh units. The government must come up with simplified mechanism to allow bigger developers to take over these stalled units so as to expedite the completion of over 5 lakh units currently stalled.”
*According to PropEquity, close to 2000 housing projects across 42 cities comprising 5.08 lakh units have been stalled. 1,636 projects totalling 4,31,946 units in 14 tier I cities and 345 projects totalling 76,256 units in 28 tier II cities have been stalled.
– Mr. Samir Jasuja, Founder, PropEquity
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