Realty champions’ reaction to budget 2016-17

From ET Realty

Budget 2016 is well aligned to PM’s Make in India plan: Vipin Sondhi, JCB India
The budget is constructive and will be instrumental in laying the foundations for long-term sustainable growth fueled by domestic demand

Sops on construction material to boost low-cost housing: Anil Kumar Sharma, Amrapali Group

Finance Minister is thinking for the long term prospective to increase the revenue and to establish the strong economy of country

Housing Industry is finally being recognised: Rajesh Prajapati, MD, Prajapati Constructions

It is probably the first time that affordable housing has been defined in terms of size and not the value of flat

REITs set to bring in a lot investments in real estate: Shrikant Joshi, L&T Realty

Withdrawal of will finally pave the way for the introduction of REITs in India

Exemption in DDT on REIT will help developers raise funds: Sandeep Ahuja, Richa Realtors

Service tax exemption and additional deduction of 50,000 on income tax in case of first property will add to the overall demand in affordable housing

Budget provides long stimulus needed to drive growth: Sriram Mahadevan, Mahindra Lifespaces
The government has taken cognizance of the importance of the Affordable Housing segment towards making housing for all a possibility

Finance Minister could not have done more than this: Irfan Razack, Prestige Group
Particularly for the Real Estate industry, the emphasis has been on affordable housing and the Prime Minister’s desire of ‘Housing For All

Budget subdued, misses out on industry status for real estate: Atithi Patel, Ariisto Realtors
One segment that would be instigated because of the Budget is definitely the affordable housing segment which shall pave way to the new home buyers who have for long been playing wait and watch game

Budget is in line with PM’s housing for all vision: Sanjaya Gupta, MD, PNB Housing Finance
Tax reforms made by the government are indicative of centre’s seriousness towards giving a much required fillip to the housing sector

Dream budget for affordable housing sector: Gagan Banga, Indiabulls Housing Finance
100% tax deduction against profits and full waiver of service tax on affordable housing projects will result in creation of large affordable housing stock and also lower costs

Conducive environment for REITs & InVITs will help attract long term capital: Gaurav Rakyan, Rising Straits
From the perspective of attracting long term capital to the country, the Government should focus on clear definitions and provisions on taxation of foreign capital and ease of business.

Decision to exempt REITS from DDT is encouraging: Deo Shankar Tripathi, Aadhar Housing Finance
The move shows government’s commitment to give boost to real estate sector which is currently witnessing slowdown

DDT exemption will put REIT structure in India at par with global standards: Surendra Hiranandani, House of Hiranandani
Industry status to the real estate sector, single window clearance, tax concessions on home insurance premiums are some of the measures that could have significantly boosted the sentiments in the sector

Cement industry congratulates Arun Jaitley for announcing a growth-oriented budget: Shailendra Chouksey, JK Lakshmi Cement
From the industry’s perception the budget has been very demand oriented as it has emphasised on two major segments of cement consumption, viz. housing and the infrastructure

Housing sector has turned out to be the primary beneficiary of Budget: J C Sharma, Sobha Limited
This budget presents a balanced picture overall and its growth orientation offers immense capacity to unlock various initiatives taken by this Government

Budget 2016-17 looks well for the real estate and sanitary ware industry: Pau Abello, Roca Bathrooms
Rs 9,000 crore for the Swachh Bharat campaign should accelerate the growth of sanitary ware industry

Real estate did not get most of expected positives: Niranjan Hiranandani, Hiranandani Group
Removing the Dividend Distribution Tax on REITs is a welcome measure, which will help boost inflow of funds in India’s real estate sector

Real estate funds will lend to developers with focus on affordable housing: Rubi Arya, Milestone Capital Advisors
Computation of (LTCG) Long term Capital Gain on unlisted companies reduced from 3 years to 2 years. This will assist the investment by private equity funds in unlisted SPV’s of developers and result in lower tax in the hands of its investors

Budget offers good encouragement to the first time home buyers: Kamal Khetan, CMD, Sunteck Realty
It will have a two-fold impact – one – it will lead to additional sources of capital for developers and two – it will allow various stakeholders to participate in the real estate growth story of the country by unlocking value

Digitization of land records will help in more transparent market-based pricing: Brotin Banerjee, Tata Housing
Greater outlay for construction of road and highways is a definite positive

Leave a Reply

Your email address will not be published. Required fields are marked *