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Feb 25, 2013, 08.42 PM IST | Source: CNBC-TV18

Union Budget 2013: Give real estate industry status: Pharande Spaces

Above everything else, we feel that the budget should take into congnizance the fact that Indian real estate is not just another business vertical - it is a vitally important industry.

Anil Pharande
Pharande Spaces

Above everything else, we feel that the budget should take into congnizance the fact that Indian real estate is not just another business vertical - it is a vitally important industry. It should therefore be accorded official status as an industry. This point has been brought up many times before but always ignored.

The Pimpri Chinchwad Municipal Corporation is definitely ahead of the PMC in terms of rational real estate growth and overall infrastructure. However, the high interest rates for home loans have been a hurdle for aspiring home buyers in PCMC as well. Interest rates on home loans need to be brought down sufficiently to re-ignite interest in buying homes. Putting home ownership out of the reach of the common man is simply not the right approach to curbing inflation. We also look forward to special incentives for developers to create more budget housing and rental housing projects.

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