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Mar 16, 2012, 06.52 PM IST | Source: Moneycontrol.com

Budget Reactions: Supertech says real estate sector has few positives

By R K Arora, CMD, Supertech

R K Arora, CMD, Supertech
By R K Arora, CMD, Supertech

“The overall budget for the real estate sector is not a very welcoming one. There are some positives but it again has not addressed some of the long pending demands of this sector. The Proposed Budget 2012-13 has allowed borrowing from overseas for affordable housing projects is a welcome step. It will definitely bring fund flow and can also boost the affordable housing segment.
 
The extension of interest subsidy of 1% on housing loans of up to 15 lakh is a positive step but an increase on housing loans of up to 25 Lakh will further boost the demand for low-cost housing and will help buyers at large.The increase of service tax and the excise duty would directly make an impact on real estate sector which ultimately have an impact on the price of the properties and will affect the customers. Also our long pending demand to give industry status to real estate sector once again has not been addressed".

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